Tanzania boasts of a thriving technology sector, with talented individuals and innovators who are consistently pushing the boundaries of innovation. Although mostly under the radar, they are making a significant impact in the industry. According to Disrupt Africa, African tech startups raised $2.7 billion in funding in the first three quarters of 2022, which is a 30% increase from the $2.1 billion raised in 2021. Despite the global decline in funding last year, Africa saw an upward trend, with $4.8 billion raised by the end of December.
However, Tanzania has yet to fully tap into this investment and falls behind its peers in attracting tech investors. The Ministry of Information, Communication, and Information Technology is working closely with the Tanzania Communications Regulatory Authority (TCRA) to make Tanzania Africa’s online business hub, offering exciting prospects for both local players and foreign investors looking to invest in technology in the country.
The CEO of the Tanzania Startup Association (TSA), Zahoro Muhaji, has noted that some young innovators attract millions of dollars in investment, but they choose to keep their success private. However, there are established and emerging tech players who are working to change this narrative by showcasing the growth and investment potential of the local tech sector.
In this feature, The Citizen Tanzania Top Tech Billionaires, we shed light on the achievements of the key players and stakeholders in Tanzania and offer a roadmap for better awareness, understanding, infrastructure, policy amendments, and opportunities for young people in the tech and innovation space. According to Murtaza Ebrahim, CEO and founder of Imperial Innovation, and Godfrey Magila, CEO and Founder of MagilaTech, the challenges in the industry are significant. However, Edwin Bruno, CEO and founder of Smart Africa Group (SAG), remains an advocate for creating opportunities for young people.
Faith Pella, CEO of Y9 and co-founder of KilimoFresh, believes that technology should be accessible from an early age and taught in schools. Iain Usiri, CEO of Ramani, believes that technology can create a community that understands the importance of a sustainable value chain. Princely Glorious, co-founder of OnaStories, highlights the importance of focusing on the digitized world and finding ways to leverage tech disruption in the industry.
In conclusion, these tech billionaires run businesses worth billions of shillings in assets and projects, demonstrating the mastery of commercializing technology. They offer valuable insights into the path to success in the tech industry in Tanzania.
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Tanzania is a country in East Africa, bordered by Kenya and Uganda to the north, Rwanda, Burundi and the Democratic Republic of the Congo to the west, and Zambia, Malawi and Mozambique to the south. It is located on the African Great Lakes region and is home to Mount Kilimanjaro, the highest mountain in Africa. The capital city of Tanzania is Dodoma, while its largest city and former capital is Dar es Salaam. The country has a population of approximately 61 million people and is known for its wildlife, beaches, and cultural heritage.