Tanzania, East Africa’s next startup powerhouse, is heating up
- Tanzania raised nearly $300 million for startups since 2019, becoming one of the top 10 investment destinations in Africa.
- In 2024, Tanzania's startup funding totaled $53 million, marking a significant increase from $25 million in 2023.
- The number of startups in Tanzania grew from 842 in 2023 to 1,041 in 2024, reflecting a 24% growth.
Tanzania's rise in the startup ecosystem is commendable, but it must continue to address challenges such as regulatory bottlenecks and the talent exodus to maintain its growth trajectory. The government's commitment to supporting startups through initiatives like the Startup Act is a positive step, but ongoing efforts are needed to attract and retain talent and investment.
