Business
The Tanzanian is economy one of the fastest growing economies in Africa. The things that make Tanzania unique and able to grow at a rapid pace are the wide array of natural resources as well as the geographic location ideal for importing and exporting goods. Below we have listed just a few of the most income- generating entrepreneurial business opportunities that you could invest in, but don’t forget to explore and formulate other ideas around the needs of the people. We have also included links and general information on the service that the government provides to get your business set up.
Some questions to ask yourself when thinking of investment opportunities in Tanzania:
What are your investment goals?
You can invest for personal sustainability and financial gain, or you can invest with the purpose of creating a service to local people. Both can be very rewarding, but you should have this in mind when scoping out opportunities.
What Are the needs of the people / community?
Is there a need for specialized training in a certain area? How about education in craftsmanship or a specific trade? When you figure out the needs of the people, you will always see your market clearly. Provide a service that people need, and you will always have customers.
What are the cultural and societal norms when it comes to business in TZ?
Tanzania is a very unique country in how they handle business matters. Are you up for the challenge? You must ask yourself if you have the willingness and the patience to understand the government and the how people do business here.
How Much Capital Will I need?
The answer to this question will greatly depend upon the type of business you’re starting, and the route in which you will be starting it. Will it be with the help of a local Tanzanian? Or will you register it as your own? You must factor in licensing, acquisition of land, building materials, renting and other things needed.
A good amount to have as your initial starting capital is about $10K. This should cover your certificates, permits, and government registration fees. Please note that this will not include your actual start up costs and materials.
Here are a list of the government agencies, and a small run- down of what their role is in business here in Tanzania.
BRELA - Business Registrations and Licensing Agency - BRELA is responsible for getting your actual business registered and your licensing together. ind out more information about BRELA here: https://www.brela.go.tz/
TRA - Tanzania Revenue Authority - The Tanzania Revenue Authority is a semi-autonomous Government Agency of the United Republic of Tanzania. It was established by the Tanzania Revenue Act, CAP. 339 in 1995 and started its operations on the 1st of July 1996. This is the government agency responsible for taxes and income. Find out more information about TRA here: https://www.tra.go.tz/index.php
Immigration Services - Immigration handles your residency, citizenship, and other types of visa required to do business here in TZ. Visit the website for more information: https://www.immigration.go.tz/#
TIC - Tanzanian Investment Centre - The TIC is an organization that helps facilitate different investment opportunities in Tanzania. For more information on becoming a member, click here: https://www.tic.go.tz/
ZIPA - Zanzibar Investment Promotion Authority (ZIPA) is a semi autonomous government institution operating under the Zanzibar Investment Promotion and Protection Authority Act No. 14 of 2018. ZIPA is the main Government Institution responsible for promotion and facilitation of investment in Zanzibar. Click here for more info on business operation in Zanzibar, click here: https://www.zipa.go.tz/mission-vision/
a few Investment ideas
Agriculture & Agribusiness
Here in Tanzania there are opportunities in the agriculture sector from horticulture, livestock, tea, coffee, food processing, tobacco, sugar, exotic fruits and vegetables, imports and export, plus more. Visit this link for more information: Agriculture in Tanzania
Construction & Real Estate
Construction encompasses everything from real estate to civil engineering. Small- scale and larger industrial projects are on the scope of possibilities due to the abundance of land and affordable building materials. Visit this link for more information: Construction in Tanzania
Mining
Tanzania is one of the richest countries on the African continent and in the world when it comes to minerals. Just a few naturally occurring resources that are found here include: Tanzanite, gold, uranium, diamonds, and other precious metals, gemstones and minerals. Tanzania’s mining sector is rapidly growing and always in need of investors. Visit this link for more information: Mining in Tanzania
Tourism
Tanzania is the 7th most visited country in Sub- Saharan Africa after South Africa. From wildlife safaris, historical ancient tours, to beach get- aways, Tanzania has it all. Investing in tourism here in Tanzania can be a highly profitable source of income because of the volume of tourists that enter the country each year. Visit this link for more information: Tourism in Tanzania
Textiles, Fabrics and Cotton
Approximately 40% of Tanzania’s population relies on cotton for income. Tanzania is the fourth biggest global producer of organic cotton after Turkey, Syria and India. The making and exportation of Kitenge and Batik fabrics and completed products are on the rise every year, with some of Tanzania’s biggest markets being South Africa, India, China and Democratic Republic of Congo. Visit this link for more information: Cotton & Textile Production in Tanzania
Opening your own restaurant or bar in Tanzania can be very affordable. With an abundance of organic produce, you can bring something healthy and unique to the table.