STANBIC Bank has launched an entrepreneur grant meant to foster and grow Tanzanian businesses as it celebrates its 25th anniversary.
The contest dubbed ‘Stanbic Entrepreneurship Challenge’ will run from today to 11th June where five entrepre- neurs will bag 10m/-each.
Stanbic Head of Marketing, Desideria Mwegelo said the country’s SME sector consists of more than 3 million enterprises; Their stability and growth are crucial to the economy.
“Contributing to the financial success of SMEs is core to our mission and over the years, we have hosted several forums where entrepreneurs have benefited through learning, networking and coaching sessions,” Ms Mwegelo said.
The ‘Stanbic Entrepreneurship Challenge’ is targeted at entrepreneurs who are working hard to fulfil their entrepreneurial ambitions through projects that have a social impact on health, education, environment, technology as well as food and manufac- turing.
Among the qualifying criteria, the prospective can- didates must be based in Dar es Salaam, Mbeya, Arusha, Mwanza, Moshi and Dodoma, and all entry instructions are available on the bank’s social media channels and website.
“I encourage entrepre- neurs to submit their applica- tions and make this the year of fulfilling their dreams– whether it is taking the leap to grow their business or simply to recover from any effect Co- vid-19 might have had on their business,” she added.
Apart from funding the five finalists will also gain ac- cess to financial advisory and mentorship and the bank’s cor- porate clients who are looking to partner with SMEs as sup- pliers or as part of their enterprise supplier development programmes.