Why Tanzania? A Blueprint for Innovative Companies

Kirjoittanut Rawlexx79

Tanzania presents an array of viable business opportunities for Innovative Companies. The country adopts a market-based economy that represents the second largest economy in the East African Community (EAC). Of importance, the country’s Growth Domestic Product (GDP) is projected to remain robust at 6.7% in 2018 – and 6.9% in 2019, representing one of the best performances within the EAC. Associated benefits for innovative companies that both operate and are considering to establish their business activities, within the Tanzanian marketplace include: (1) Economic Stability & High Growth Potential, (2) Rich Natural Resources, (3) Strategic Location and (4) Political Stability. Correspondingly, the associated challenges for innovative companies that both operate and are considering to establish their business activities, within the Tanzanian marketplace include: (1) Poor Infrastructure, (2) Skilled Labour Shortages and (3) Corruption. Nonetheless, in spite of the highlighted overall challenges of doing business in Tanzania, the overall benefits are more pronounced, therein.

The following highly productive industries provide viable business opportunities for Innovative Companies: Agribusiness, Renewable Energy, Health Care, FinTech, Information & Communications Technology (ICT), Education, Manufacturing and Building & Construction. Correspondingly, the following ideal entry mode strategies will ensure the long-term success of Innovative Companies that both operate and are considering to establish their business activities, within the Tanzanian marketplace: (1) Direct Exporting, (2) Official Distributor, (3) Official Agency and (4) Joint Venturing.

Author(s) & Contributor(s): ASV, Client Relations

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