Entrepreneurship and Competitiveness Centre Officially Launched InTanzania
Tanzania officially launched the
Tanzania Entrepreneurship and Competitiveness Centre (TECC) to promote
entrepreneurial innovation and competitiveness in the country.
TECC aims to
promote entrepreneurship and competitiveness in Small and Medium Enterprises
(SMEs) in Tanzania through:
Skills development in
entrepreneurship, innovation and competitiveness Promoting local economic
development using the triple helix cluster approach
(university-industry-government relationships for innovation) Providing
business intelligence through studies and advisory services Jenista Mhagama,
Minister of State in Tanzania’s Prime Minister’s Office responsible for Policy,
Parliamentary Affairs, Labor, Employment, Youth and the Disabled, said that the
Government supports the private sector in SMEs promotion and urged companies
and institutions to assist TECC. TECC was founded by the Tanzania Private
Sector Foundation (TPSF), the National Economic Empowerment Council (NEEC), and
the Commission for Science and Technology (COSTECH). The establishment of TECC
is part of Tanzania’s Private Sector Competitiveness Project (PSCP).
The International Development Agency
(IDA) and other bilateral donors funded and initiated the project in 2005 to
make the Tanzanian private sector more competitive and to create sustainable
conditions for enterprise creation and growth. This will be achieved by
increasing the capacity of the local private sector to participate in domestic
and international markets, and to access financial services.
In Tanzania, 95% of the businesses
are SMEs, and they represent about 35% of the country’s GDP, according to the
Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA).
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