Number and Employment of Startups in Tanzania Up by 15% in 2022
The report highlights the major trends and developments that have shaped the industry over the past year and provides an overview of the major startup hubs around the country, including key statistics on funding, investment trends, characteristics of founders and startup activity. It also examines the key challenges facing startups, such as access to funding, investments, talent, support, and regulatory barriers
Key findings reveal a 15% increase in the number of known startups, growing from 587 in 2021 to 673 in 2022. This substantial growth can be attributed to several factors, such as an extended government hiring freeze that led many young professionals, including recent graduates, to explore self-employment and entrepreneurship opportunities. Also, expanding internet access and digital technology in Tanzania have enabled more individuals to launch and scale their businesses.
