How to Get Business Ideas 💡 In Tanzania How to Get Business Ideas 💡 In Tanzania
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While I was thinking about which topics to write about this week, I found myself thinking about random topics in business and investment opportunities in Tanzania. I tried to imagine how many people are struggling to look for opportunities and where they can get information. I believe most of us know that business opportunities can be generated from social challenges or economic challenges but the question comes how do we find out the social challenges or economic challenges? If you want to find out how hard it is, just ask yourself why your lecturer or most of them are not entrepreneurs ?. I am sure a financial matter comes to your mind as the main reason but how will you understand how much you need to start your business if you don’t have sufficient information ?. I believe people in Tanzania fail to start a business for many reasons but l think lack of enough information is the number one for most Tanzanians. 

In this post, I am happy to share with you where and how you can find business and investment opportunities in Tanzania. First of all, I would like to bring to your attention-

Tanzania investment centre.

This is a government agency in Tanzania that specialized in researching, exploring all business opportunities in Tanzania. Each year the agency publishes all business opportunities in Tanzania. I am pretty sure you won’t be disappointed to read their business opportunities reports. They didn’t leave behind any region in Tanzania, all business opportunities in Tanzania in each region are written in their reports. For example, We all know that avocados from Tanzania are getting popular abroad but have you asked yourself what opportunities are available in the avocados business? According to the Tanzania investment centre, there are the following opportunities.

Firstly, Investment opportunity in processing the avocados.

Secondly, investment opportunity in Opening large plantations for producing avocados.

Thirdly, Investment opportunity in supplying avocados inputs such as seeds.

Tanzania investment centre can make your life easy to find out all business opportunities in Tanzania from all sectors you know. They are allocated at Post and to get information is free of charge.

Another way of getting business ideas in Tanzania, which I found very useful are:

1- Read ANNUAL SURVEY OF INDUSTRIAL PRODUCTION in Tanzania

2- Read WORLD BANK And IMF reports about business in Tanzania

3- Read quarterly and annual reports from BOT ( Central bank of Tanzania)

4- Read TANZANIA INDUSTRIAL COMPETITIVENESS REPORT 


5- Read NATIONAL FIVE YEAR DEVELOPMENT PLAN 2021/22 - 2025/26

There are many types of such reports online. If you're looking for specific information, let’s say about Agriculture or trade. Kindly, go to the website of concerned ministries and click their publication. After that, You'll get what you're looking for.

Do you have to read a whole report?

I would recommend you do it to understand in details because many of the reports will talk about the legal framework, partners and even other regulations issues. Knowing all the details will help you to understand the laws and regulations requirements, but if you are lazy to read it all, you can start with the challenges, after that  read the solutionst government suggested. For example, last Sunday I was scrolling down my Instagram and I found the news about

“Tanzania lost Sh 2016 billion by exporting RawCashew Nuts in the season 2020/2021” ( The citizen, Sunday 21).

Immediately I got excited to know who reported it and how I can get more information. To be honest until now I am thinking about how I can seize a business opportunity of Sh 2016 or just half of it.

Anyways, that Research information was given by the “National Postharvest Management Strategy” 

which is also one of the government agency’s related to “Tanzania National Food Security”. In a report, I found out that Tanzania lost a lot of money from Post-harvest losses. Post-harvest losses are defined as a loss that occurred after harvest. For example, lack of processing, poor transportation, poor production quality. According to that report losses of grains alone exceed USD 4 billion. A report also suggests the measure to reduce Post-harvest losses. One of them, the government encourage the private sector to invest in STORAGE FACILITIES, WIREHOUSE. This is how you can also find business opportunities in other reports

Conclusion

Always remember that you can have a very good business idea but not all business ideas are business opportunities. I encourage you to read the source of information I shared with you to understand what the market needs.

Good luck !!! 

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M.k Butinini
Written by

M.k Butinini

Multiple knowledge in the financial market and investment opportunities.

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