Would you like to start a business in Tanzania? If so, here are the top 5 investment opportunities for small business ideas in Tanzania.
Tanzania is an African country located in the east of the African continent. The capital and seat of power of Tanzania is called Dodoma, but the largest city and center of commerce is still Dar es Salaam. The official languages of Tanzania are Swahili and English. Tanzania became independent from the United Kingdom.
Tanzania’s economy is based on the agricultural sector, the telecommunications sector, the tourism sector, the banking sector and the mining sector. The country’s agricultural sector is notable for growing crops such as maize, cassava, sweet potatoes, beans, bananas, millet, tobacco, coffee, tea and cotton et al. Tanzania is also known for its exports of gold, diamonds, silver, copper, gypsum and graphite.
The tourism sector is one of the fastest growing sectors in Tanzania. In fact, travel and tourism employs over 10% of Tanzania’s total workforce. The country’s main tourist sites are Mount Kilimanjaro (Africa’s highest mountain), Lake Manyara National Park, Tarangire National Park, the Ngorongoro Conservation Area and Zanziba (Serengeti National Park).
In addition, the Tanzanian economy is considered to be a mediocre economy, but with hope for growth if natural resources are well exploited and policies are in place to support entrepreneurs. In essence, Tanzania can be considered a green field for investors, as almost every sector in the country is still very much open.
See also: Tanzania EOR
So, if you are an investor looking to invest on the African continent, then you should consider investing in Tanzania. The top 5 business opportunities available to investors in Tanzania are as follows:
Top 5 Small Business Investment Opportunities in Tanzania
- Aviation company
Although road transport is responsible for 80% of passenger transport, another simply because the aviation industry is still growing. Tanzania has 4 international airports and 5 airlines.
If you are a qualified investor wishing to invest in Africa, you would be well advised to establish your own airline in Tanzania. There is no doubt that setting up an airline is expensive, but the truth is that it is a very profitable business and the Tanzanian government is ready to grant licenses to investors willing to have the necessary investments in this sector.
- Tobacco manufacturing company
Tanzania is noted for growing large quantities of tobacco. If you are thinking of starting a manufacturing business in Tanzania, you should consider establishing your own tobacco manufacturing company. The truth is that if you establish this type of business in Tanzania, you will have access to cheap raw materials and inexpensive labor. The international market for tobacco manufactured in Tanzania is indeed encouraging.
- Tea and Coffee Production Company
The soil composition and climatic conditions in Tanzania are ideal for growing tea and coffee. If you are thinking of starting a business in Tanzania, it would cost you to start your own tea and coffee production business. The truth is that you would have a lot of weight, from arable land for tea and coffee growing to cheap labor.
Another positive asset for you when setting up your tea and coffee manufacturing company in Tanzania is that you will not have to struggle to sell your products as there is a big international market for tea and coffee produced in Tanzania. All you need to do is to explore the international market if you really want to succeed with this type of business.
- Food Processing Business
Tanzania’s agricultural sector boasts major crops such as maize, cassava, sweet potatoes, beans, bananas, millet, tobacco, coffee and tea, but the main challenge in this sector is the preservation of this crop. If you have the capacity to establish a food processing plant in Tanzania, you will get a good return on investment, especially when your product is cheaper than those imported from other countries.
- Travel and Tourism
Tanzania is a major tourist destination in Africa.The travel and tourism sector employs more than 10% of the country’s workforce. Currently, the travel and tourism sector is considered the fastest growing sector in Tanzania and remains very open to investors. So if you are thinking of starting your own business in Tanzania, you should consider starting your own travel and tourism business.
Here you have it; the top 5 business opportunities available in Tanzania. It’s an African country that can guarantee good returns on your profits when you invest there.