Tanzania promotes startup policies and agribusiness investment

Tanzanian Vice President Deogratius Ndejembi has directed the Ministry of Industry and Trade to develop a specific startup policy within six months. The policy aims to provide youth with access to capital, markets, and investment opportunities as part of the National Development Vision 2050. During Startups Week in Dar es Salaam, Ndejembi called on financial institutions to create more accessible capital systems and instructed the establishment of a joint Innovation Centre to connect young entrepreneurs with domestic and international investors.

In a separate development, Prime Minister Mwigulu Nchemba highlighted Tanzania’s vast agribusiness potential during the Borlaug Dialogue in the United States. He noted that while the country possesses 44 million hectares of arable land, only 10.8 million are currently utilized. Nchemba invited investors to participate in crop processing, packaging, cold storage, and digital financial services, emphasizing that the Tanzanian market provides access to approximately 170 million people within the East and Central African region. The Prime Minister also noted government investments in irrigation schemes and tax incentives to attract private sector partnership in food security and value addition.