This Week In Tanzanian Startup 🔥🔥

EU Invests €15 Million Grant To Tanzanian SME’s

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In a game-changing move for Tanzania's Small and Medium-Sized Enterprises (SMEs), the European Union (EU) has allocated a substantial grant of €15 million (approximately Sh43 billion). This funding, combined with loans from the European Investment Bank (EIB), aims to enable access to finance for SMEs, a vital component of Tanzania's economy.

The announcement came after a five-day visit by EIB Vice-President Thomas Östros and Emilio Rossetti, Deputy Ambassador of the European Union to Tanzania. On July 5, 2024, the two officials signed a statement of intent, heralding a new era in EU-Tanzania relations under the EU Global Gateway strategy.

"This grant will finance advisory services and technical assistance at the early stages of financing, preparing businesses for subsequent commercial investment," said Mr. Östros. He highlighted that the funding will help de-risk lending by local banks, making it easier for SMEs to secure much-needed capital.

This initiative is set to transform the landscape for Tanzanian SMEs, providing them with the financial support and resources they need to scale and thrive. It underscores the EU's commitment to fostering sustainable economic growth and strengthening the SME sector in Tanzania.

Let’s Unpack

  • 95% of the businesses in Tanzania are SMEs.

  • SMEs generate between 60% to 70% of employment,

  • About 1/3 of the country's GDP comes from SMEs.

  • Most SMEs are in the agricultural sector.

  • More than half of SMEs are owned by women.

Four Tanzanian Startups Shine in 2024 GoGettaz Agripreneur Prize Competition

Four Tanzanian startups have made it to the prestigious top 60 agripreneurs in the 2024 GoGettaz Agripreneur Prize Competition. The selected startups are Ecomilk Technologies, Freshpack Technologies, KCG Aquatec Fish Farming Consultancy Company Ltd, and Mrembo Naturals Limited. Their innovative solutions address various agricultural challenges, including mastitis in dairy cows, post-harvest losses, fish farming, and organic hair care.

The GoGettaz Agripreneur Prize Competition is an annual flagship event by GoGettaz Africa, aimed at recognizing and rewarding innovative agri-food entrepreneurs aged between 18 and 35. The competition awards a $50,000 grand cash prize to two standout entrepreneurs, one male and one female. Beyond the cash prize, the winners also receive mentorship and training from experienced agripreneurs. The competition is open to entrepreneurs representing legally registered ventures from African Union member countries.

This year, an additional $60,000 Impact Award has been introduced to support businesses with significant social and environmental impact. From the top 60 agripreneurs, 10 finalists will be selected to attend a live pitching event at the annual Africa Food Systems Summit in Kigali, in September 2024.

For more information about the competition, please visit GoGettaz Agripreneur Prize Competition

Afya Intelligence wins the HealthTech Hub Innovation Challenge 2024

Afya Intelligence, a Tanzania-based healthtech startup, has been named one of the six winners of the HealthTech Hub Innovation Challenge 2024. This prestigious recognition was announced at the 4th Africa Digital Health Summit held in Lagos. Afya Intelligence leverages data, innovation, and partnerships to deliver modern healthcare services across Africa.

The HealthTech Hub Innovation Challenge, an annual event sponsored by the Novartis Foundation and the Global Fund, supports healthtech startups affiliated with HealthTech Hub Africa. These startups are eligible to apply for up to $100,000 in funding to scale their solutions addressing public health issues in Africa.

Alongside Afya Intelligence, this year’s winners include Helium Health (Nigeria), Emergency Response Africa (Nigeria), eFiche (Rwanda), MedTrack (Ghana), and Aurora Health Systems (Kenya).

For more information about the challenge, please visit HealthTech Hub Innovation Challenge

Tanzanian women-led startup Healthy Seaweed Co. Limited “the Best Pitcher Award” in Blue Communities.

From July 3rd to 4th 2024, the European Commission brought together African blue startups through a BlueInvest Africa conference aimed for enterprises promoting development in the blue communities.

The conference aimed to facilitate meetings between African entrepreneurs seeking financing and international investors scouting for opportunities, all centred around projects capable of propelling Africa’s blue economy forward.

The focus for 2024 was to spotlight transformative projects within maritime and coastal sectors and interior waters, emphasizing sustainable innovation, job creation, and marine ecosystem preservation. Also, provide a platform for African-based companies and global investors to forge strategic alliances, exchange knowledge, and propel the blue economy to unprecedented heights.

Healthy Seaweed Co. Limited, a Tanzanian and women-led startup, was among the “blue” startups selected to pitch their blue solutions. Represented by the company’s co-founding partner, Ms. Fatuma Mang’ena, in the pitching session across blue stakeholders, the company was named for the Best Pitcher Award in Blue Communities.

Healthy seaweed cafe is a social enterprise that deals with seaweed value addition for food to champion healthy lives through local consumption of seaweed by creating diverse seaweed-based foods such as salad, juice, paddings, smoothies, candies and spices as well as increasing income generation channels for women seaweed farmers in Tanzania.

The blue economy is one of the potential areas requiring innovative solutions and ideas to foster the sector’s development. Looking for a space to bring solution in? Consider the blue economy.

Photo credit: Healthy Seaweed Co. Limited

Tanzanian Startups Showcase Innovation in Germany

In an inspiring showcase of East African innovation, a delegation of young entrepreneurs and startups from Tanzania, Kenya, and Uganda recently visited NRW.Global Business in Germany. These high-potential individuals represent the forefront of East Africa's tech scene, bringing fresh ideas and groundbreaking solutions to the global stage.

Photo Credit : NRW Global Business

Among the participants were:

  • Agness Mollel (MipangoApp): Co-founded a personal finance application that demystifies personal finance, particularly empowering young adults and women.

  • Carol Ndosi (The Launchpad Tanzania): Founder of an NGO promoting youth and gender equality through the acquisition of digital skills.

  • Joseph Paul, MD (Dawa Mkononi): CEO of a pioneering e-pharmacy platform revolutionizing healthcare access across Tanzania

  • Kusiluka Aginiwe Justice (Smartdarasa): Drives the strategic vision for this innovative ed-tech company, utilizing cutting-edge 2D, 3D, and AR technologies to make learning fun, practical, and accessible.

  • Asorael Ayo (Dawa Mkononi): Developed a mobile application for pharmaceutical ordering and delivery, serving healthcare facilities in Tanzania.

Funding opportunities 🎇🎇🎇

D-Prize Grant

The startup grants of up to $20,000 are awarded to entrepreneurs launching new organizations. The Grant is driven by the belief that the world needs more social impact organizations, and they seed for-profit ventures, NGOs, and charities. Organizations in any low-or-middle income country where extreme poverty still exists are supported.

For women-owned or led businesses that re social enterprises supporting women’s economic empowerment, climate resilience, or both, and have at least $20K in income. Deadline: August 15, 2024.

Derived from Harambee — Swahili for working together towards a common purpose — the Harambe Entrepreneur Alliance got its start in 2008. Harambeans are African innovators who have pledged “to work together as one” to unlock the potential of Africa and over the last decade, they have spawned a series of tech-enabled ventures. Deadline: September 30, 2024

The 2nd edition of the SDG Digital GameChangers Award is here to honor organizations making strides towards rescuing the Global Goals through digital innovation. The award ceremony will take place during SDG Digital Futures on 20 September 2024.

This is an exciting opportunity for non-profits and social enterprises across Africa to showcase their innovative solutions leveraging technology and digital tools to create social change.

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