To celebrate its 25th anniversary, Stanbic Bank has launched an entrepreneur grant meant to foster and grow Tanzanian businesses.
The contest dubbed ‘Stanbic Entrepreneurship Challenge’ will run from May 28th to 11th June 2020–five entrepreneurs will bag TZS 10 million each.
“Tanzania’s SME sector consists of more than three 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,” said Stanbic Head of Marketing Desideria Mwegelo.
The ‘Stanbic Entrepreneurship Challenge’ is targeted at entrepreneurs who are working hard to fulfill their entrepreneurial ambitions through projects that have a social impact on health, education, environment, technology as well as food and manufacturing.
Among the qualifying criteria, the prospective candidates 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 entrepreneurs to submit their applications 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 COVID-19 might have had on their business,” she added.
Apart from funding the five finalists will also gain access to financial advisory and mentorship and the bank’s corporate clients who are looking to partner with SMEs as suppliers or as part of their enterprise supplier development programmes.
Stanbic Bank Tanzania is part of the Standard Bank Group, Africa’s largest bank by assets. The Bank provides a full spectrum of financial services.
The Personal and Business Banking unit (PBB) offers banking and other financial services to individuals and small-to-medium enterprises.
PBB serves the increasing need among Africa’s small business and individual customers for banking products that can meet their shifting expectations and growing wealth.