Access to finance

Tanzania is set towards becoming a middle-income country as the economy grew by an average of 6.5% per year in the past decade. The “Tanzania Development Vision (TDV) 2025” highlighted small and medium-sized enterprises (SME) sector as one important contributor to the country’s long-term development. It is estimated that Tanzania’s SME sector consists of more than 3 million enterprises which contribute to 27% of overall GDP.  Most of them are in the agricultural sector, and more than half are owned by women. However, key constraints remain for SME development. This includes unfavorable legal and regulatory frameworks, undeveloped infrastructure, poor business development services, limited access to financing, and ineffective and poorly coordinated institutional support framework. Among these constraints, access to finance is the most critical one. As such, the government of Tanzania is currently working with the WB... —