Tanzania Promotes its SMEs

The Tanzania Startup Association has launched, bringing into existence an umbrella organisation to help promote the interests of the local ecosystem. Formed by various stakeholders within the startup ecosystem in Tanzania, including early-stage businesses, innovation hubs, social enterprises, venture capital, and private equity firms, the association has been launched in a bid to promote positive changes to existing policy and legal frameworks for startups in Tanzania. The Tanzania Startup Association launches with the support from the Tanzanian government, which has pledged its support to the local startup sector due to its increasing importance to the economy, said the executive secretary of the Tanzania National Business Council Goodwill Wanga. Association chairperson Paul Makanza said startups offered enormous opportunities for wealth and employment creation in the country and recognised the government’s support in showing political will to allow and facilitate the growth of the private sector in Tanzania.