Bank M chairman Nimrod Mkono (centre) shakes hands with KPMG Tanzania Country Leader David Gachewa after the bank was introduced as the main sponsor of the Tanzania Top 100 Mid-Sized Companies Survey for the next three years in Dar es Salaam yesterday. Looking on is Mwananchi Communications Limited Chief Operating Officer Francis Nanai.

Dar es Salaam. The fourth edition of the Top 100 Mid-Sized Companies Survey officially kicked off yesterday in Dar es Salaam with the introduction of a new sponsor.

Bank M (Tanzania) Limited will sponsor the event in the next three years (2014, 2015 and 2016) to the tune of Sh480 million ($300,000).

Present at the launch were Bank M Chairman Nimrod Mkono, Mwananchi Communication Limited (MCL) Chief Operating Officer Francis Nanai, MCL Executive Editor Bakari Machumu and KPMG Tanzania Country Leader David Gachewa.

Mr Gachewa thanked the management of Bank M for sponsoring the survey, adding that the organisers, MCL and KPMG, were looking forward to working together to bring out the best in the business community. “We believe Bank M will enjoy being a part of this exciting initiative,” he said.

Bank M replaces the National Bank of Commerce (NBC) as the main sponsor. NBC supported the survey for three years.

Bank M joins the Dar es Salaam Stock Exchange (DSE), which is sponsoring the survey for the second consecutive year.

The survey seeks to identify Tanzania’s fastest growing medium-sized companies in order to showcase business excellence and highlight some of the most successful entrepreneurship stories.

The survey seeks to identify companies that progressively grow their market shares in their respective sectors.

“This growth has translated into both returns for its shareholders and a fairly sound financial position,” Mr Gachewa said.

He added that the survey sought to create, among other things, databases that will enable medium-sized companies to benchmark themselves against their peers and highlight to policy-makers their contribution to economic growth.

For his part, Mr Mkono said Bank M’s decision to sponsor the survey marks an important partnership with KPMG and the Nation Media Group.

He said Bank M already had a partnership with NMG in the Bank M East African CSR Awards which recognise the best practices in corporate social responsibility across the region.