Tanzania’s top tech players share pathways to success
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Loading... - Joanita Candiru
- 27 Jan 2023
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Tanzania’s technology space is replete with talent and innovators that are breaking new ground every day, but mostly under the radar.
According to Disrupt Africa, African tech startups raised $2.7 billion in total funding in the first three quarters of 2022, almost 30 percent more than the $2.1 billion banked in the entirety of 2021.
While startups around the globe recorded a significant decline in funding last year, Africa continued its upward trend with $4.8 billion raised by the end of December.
However, despite these positive figures and a promising outlook, Tanzania has not fully tapped into this investor cash and continues to lag behind its peers in terms of attracting tech financiers. But this does not mean that the local tech space is without lucrative projects and prospects. More so, the current focus by the Ministry of Information, Communication, and Information Technology, working closely with the Tanzania Communications Regulatory Authority (TCRA), to make Tanzania Africa’s online business hub, means there’s more to look forward to for local players and foreign investors looking to invest in technology in the country.
CEO of the Tanzania Startup Association (TSA), Zahoro Muhaji, once said that there are young innovators who attract millions of dollars in investment but choose not to publicise their wins. “I met a young startup duo that had scored $500,000 (Sh1.15 billion) in investment, but they were not enthusiastic about making the news public for various reasons,” Zahoro said.
But despite the fear of making tech wins known on the local scene, Tanzania has a growing list of established and new tech players who want to change the narrative by showing that the local techsphere is growing and attracting investors. However, for Tanzania to fully maximize its tech potential, they share some insights on what should be done. Read More…
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