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United Republic of Tanzania  
 
  • Mwl. Julius K. Nyerere
  • Mh. Amani Abeid Karume
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GOVERNMENT OFFICE RESPONSIBLE
Property and Business Formalisation Programme - MKURABITA

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Property and Business Formalization Program (MKURABITA) is a facility to empower Tanzanians economically by using their talent, resources and legally recognized businesses to get capital. The aim of building the capacity of the targeted people includes making them know:

i. How to keep records of their business,

ii. How to prepare a business plan,

iii. Loan procedures of financial institutions,

iv. To open and maintain accounts in financial institutions.

Activities Undertaken

MKURABITA in cooperation with Local Government Authorities, financial institutions and the respective Councils conduct public and various stake holders’ awareness to ensure the following is implemented:

i. Build the capacity of business entrepreneurs,

ii. To connect property owners with financial institutions, crop boards and  social security funds,

iii. To build the capacity of property owners,

iv. To build the capacity of business and farmers associations including VIBINDO, VICOBA and ITOA,

v.  To simplify availability of loans services, agriculture inputs and consultancy,

vi. To give training related to:

vii. Banking services

  • Keeping of accounts
  • Issuing and payment of loans
  • Sending money inside and outside the country
  • Payment of bills
  • Property evaluation
  • Managing Official Business 
    • Keeping business financial records
    • Preparing business plan
    • Preparing a cash flow plan  
  • Getting and increasing capital
    • Identifying opportunities for getting and expanding capital
    • Identifying and getting partners  
    • Renting of legitimate property
    • Getting an investor
    • Selling property profitably 

Benefits

i. The process of building capacity of property owners and businesses is participatory.

ii. It brings together formalized properties and economic opportunities.

iii. People who have formalized their properties have started benefiting from the acquisition of capital.

iv. This social and economic participatory process has been received favorably and accepted by various stakeholders who have started cooperating with MKURABITA and local councils. 

Source: Government Portal Content Team, Last Reviewed on: 31-10-2018
 
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