AECF BP Workshop in Tanzania by Finance Knowledge Network

In December 2015, AECF opened a window for Tanzania SMEs.  Four AAA (TZ) members were privileged to be coached by AAA Finance Leader Mr. Kang’ara in Arusha Tanzania. The coaching started online where all members sent their Business Plans to the AAA Coaches before the one on one coaching. On 9th December Mr. Kang’ara met members from Dar es Salaam and Arusha BC for a thorough coaching and review of their Business Plans. Other members, who could not make it to Arusha, from Mbeya BC, were coached online.  All four members were able to submit their BP to the AECF by 15th December 2015.

Tanzania Bc Leaders gets an insight of trainings offered by Finance KN

The KN Finance Leader also attended the BC leaders planning workshop on 11th December at Snow Crest Hotel Arusha. Present was Mr. Chacha, AAA Tanzania Chapter Chairman, Mr. Kitigwa, BC Leader Dodoma, Mr. Godfrey Mosha, BC Leader Dar es Salaam , Mr. Mutisya, BC Leader Arusha, and Mr. Gerald Mgaya (BC Leader  Mbeya). Mr. Kangara explained to the BC leaders that there are a lot of opportunities that members can get through KN Finance. He listed the training /services that members are offered, including:

  1. Keys to success Finance

A training that helps members to understand what is needed before requesting for finances and how best they can request or apply for finance from different funders, as each funder has their own requirements.

  1. Financial management

One of the important tools for any member who wants to have the financial records well kept.

  1. BP writing

Assisting members on developing the best bankable business plans. This plan can be specific to a certain fund provider or for a member who wants to “shop” for a financier (e.g. banks, foundations or competitive funding association). AAA coach sits with members and has a one on one couching until their Business Plan is in place.

  1. Link to financiers

The KN Finance leader explained that, AAA has been working on finding potential funders for members. Apart from the well known AECF, Mr. Kang’ara mentioned that Rabo foundation is looking forward on receiving Business Plans from AAA members. This is after seeing some BP from AAA members in Kenya who are now waiting to receive some funds. Another listed potential financier is the Mango fund in Uganda.

He elaborated that there are some financiers who are willing to fund members at different levels of financial needs, however members should make sure their “house” is in order, that is, members should make sure they have a clear and organized financial system as well as the financial records.

This was very useful information for the Tanzania BC Leader as it came right on the planning time. It really helped in fine tuning the BC plans for 2016.