By Orton Kiishweko
Investment and Empowerment State minister Mary Nagu has said that one of the barriers in establishing businesses currently is the inability to secure credit from financial institutions.
"We have prioritised those highlighted areas, but financial institutions should also broaden their reach in giving out credit to our brave entrepreneurs," she said.
She said this in reaction to the newly released ' Business leader perceptions of the investment climate in Tanzania – 2011' report which cites access to finance as a challenge to starting or running business in the country.
University of Dar es salaam economist Dr Lenny Kasonga praised the findings noting that it was prudent for 2012/2013 to focus on the areas highlighted as impending business growth.
"We don't exactly have the best roads and if roads and communication structures are in place, they can cut down on the cost of operations ," he said.
He added, "We should engage the private sector and our government to ensure that these barriers are removed to improve the business climate."
Investment and Empowerment State minister Mary Nagu has said that one of the barriers in establishing businesses currently is the inability to secure credit from financial institutions.
"We have prioritised those highlighted areas, but financial institutions should also broaden their reach in giving out credit to our brave entrepreneurs," she said.
She said this in reaction to the newly released ' Business leader perceptions of the investment climate in Tanzania – 2011' report which cites access to finance as a challenge to starting or running business in the country.
University of Dar es salaam economist Dr Lenny Kasonga praised the findings noting that it was prudent for 2012/2013 to focus on the areas highlighted as impending business growth.
"We don't exactly have the best roads and if roads and communication structures are in place, they can cut down on the cost of operations ," he said.
He added, "We should engage the private sector and our government to ensure that these barriers are removed to improve the business climate."