Did you know that many Tanzanian businesses lack proper funding and mentoring capabilities? Earlier this year, the Mo Dewji Foundation set out on a mission to help out and empower young entrepreneurs across Tanzania. That is where the idea of the Mo Entrepreneurs was derived from and along with the collaboration of Darecha Limited and Problem Solved Limited the competition was established.
Applications from all over Tanzania were brought in and it was a difficult procedure to decide on just 4 businesses when over 300 applications from various businesses all over Tanzania were sent in. On Wednesday 21st December 2016 the Foundation officially announced the following winners to the press:
The four exceptional winners of the competition were previously awarded a TZS 10 million interest free loan to better their business endeavors and also a 1 year subscription to Minishop software courtesy of Problem solved. Since then they have all experienced an astounding growth in their profits and working capital.
“The loan has helped me ..increase my capital greatly.” – Khadija Liganga, Mo Entrepreneur Winner 2016
Khadija Liganga from Dida Vitenge wear remarked during the press event that “the loan has helped me acknowledge various things and increase my capital greatly.” She has had an increased rate in profit and also hopes to expand her business by investing the creation of reusable and recyclable materials to be produced and consumed in Tanzania. Over the following years the foundation plans to continue enriching the lives of young business owners through the Mo entrepreneur competition.