DEPUTY Speaker of the National Assembly Mussa Azzan Zungu has urged Micro, Small and Medium-sized Enterprises (MSMEs) to embrace digital transformation to remain competitive in the global economy.

Speaking at Kariakoo Festival in Dar es Salaam yesterday, Zungu emphasized the vital role of innovation and digital transformation in Tanzania’s economic future.

“In today's rapidly evolving global environment, adopting digitization and digitalization is essential for unlocking business potential. One doesn't need to visit Kariakoo market physically to make a purchase; this can now be done online hassle-free. The Kariakoo business community must embrace new digital tools to enhance efficiency and productivity,” he said.

“When ride-hailing business first entered the Tanzanian market years ago, there were fears it would kill the taxi industry but that has not been the case.”

During the festival which was sponsored by NMB Bank, Zungu encouraged MSMEs to focus on providing quality goods and services, stating that this would give them a competitive edge.

Seka Urio, the bank's Dar es Salaam Zonal Manager, reiterated the commitment to enhancing financial inclusion and bridging the gap for the unbanked.

“Apart from sponsoring this festival, we are here to offer seamless digital services to MSMEs and provide financial literacy for effective financial management,” he said.

Urio noted that the bank will continue to lead the country’s transition to a cashless society by introducing innovative digital products and solutions.

“Our digital payment systems, including QR codes, have simplified payment processes between buyers and sellers while providing secure payment options. I encourage MSMEs to adopt digital payment solutions as they significantly enhance operational efficiency,” he said.