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Saturday, 04 December 2010 12:22

Business Community Hails Top 100 Companies Survey

By Polycarp Machira

DAR ES SALAAM, Tanzania, December 4, 2010 (The Citizen) -  The business community has welcomed the first ever medium-sized companies' survey in the country, saying it has the potential to change the fortunes of small and medium scale enterprises (SMEs) in various ways.

The "Top 100 Mid-Sized Companies" survey, an initiative of KPMG and the Mwananchi Communications Limited (MCL) through one of its brands, The Citizen newspaper, seeks to identify Tanzania's fastest growing medium sized companies in order to showcase business excellence and highlight some of the country's most successful entrepreneurship stories.

Speaking at the launch of the survey in Dar es Salaam, the stakeholders were of the opinion that the survey will also benefit the entire private sector and even the country as a whole on its completion.

The Tanzania Investment Centre (TIC) executive director, Mr Emmanuel Ole Naiko, commended the initiative, saying the survey would help the establishment of a special SME dialogue forum with the government.

He said the initiative is critically important to the national economy as the country is still in transition from largely public sector economy of which the private sector has been invited and facilitated to take a leading role. The Confederation of Tanzania Industries (CTI) executive director, Ms Christine Kilindu, said the survey will promote company to company partnerships.

She noted that the leading 100 companies will be able to learn from one another following track record built through the ranking, thus advance market network.

Mr Ali Mufuruki, CEO and executive chairman, InfoTech Investment Group Ltd, concurred with his colleagues, saying the Top 100 will become a mark of excellence for the mid-sized companies in the country.

"There will be increased brand recognition and improved perception by various stakeholders of the small and mid-sized companies," he said.

Addressing the gathering, MCL Group managing editor, Mr Theophil Makunga, said the winning companies would be those which rank ahead of their peers in terms of revenue growth, profit growth, returns to shareholders, and cash generation and liquidity.

"The Survey will culminate in a gala dinner for the Top 100 mid-sized companies in May next year. A conference and exhibition, which will provide networking, marketing and educational opportunities, would also be held in the same period," he said.



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