First National Bank Tanzania Launches Workshop for SMEs

First National Bank Tanzania (FNB Tanzania) underscored the need to impart financial management skills to small and medium business owners for sustainable business growth.

FNB Senior Manager SME, Mr Frederick Lutindi, said in Dar es Salaam on Friday at a one day workshop for SMEs in line with FNB’s philosophy of providing finance for SMEs to take off and at the same time help them manage their businesses to bring productive entrepreneurs into play.

The workshop covered opportunities and challenges that SMEs face as well as issues about taxation, insurance, business plans together with products and services offered.

About 100 SMEs attended the workshop and had the opportunity to learn how they can expand their businesses sustainably in light of the high foreign and local investment currently being witnessed in Tanzania.

Lutindi cemented that, it is not the first time FNB is conducting training for SMEs and these workshops are a testament of FNB’s commitment to SME growth and development so that they can grow and be able to compete on the international stage with foreign businessmen in China, India, Kenya and Arab countries.

“FNB realises that SMEs are an essential component of the country’s economic growth and therefore we are committed to organise events and workshops to support their growth and development, in addition to providing them with comprehensive banking and technology solutions.”

The workshop focused on tax consultation whereby industry experts shared knowledge on how best SMEs can manage their tax compliance issues and be able to run sustainable businesses.

A wide range of other business topics including the importance of insurance covers for businesses and drafting of business plans were covered.

Lutindi advised participants on the various services and facilities available to SMEs at First National Bank. He said the bank offers a wide range of financial services to support SME customers.

“FNB is dedicated to encouraging entrepreneurial success; therefore the bank provides a range of tailor made products and services under the umbrella of SME business unit that caters specifically to SMEs,” said Lutindi.

FNB frequently holds such workshops to endow SMEs with the knowledge to help them grow and succeed within their respective industries, because the bank believes SMEs are driving the growth wave in Tanzania.

Originally published on DailyNews Tanzania