Are you interested in starting a business in Tanzania? If Yes, here are the top 10 best small business ideas & investment opportunities in Tanzania.
Tanzania is an African Country and it is located in the Eastern part of the African Continent. The capital city and seat of power of Tanzania is called Dodoma, but the largest city and center of commerce still remains Dar es Salam. The official languages of Tanzania are Swahili and English language. Tanzania gained independent from the United Kingdom.
The economy of Tanzania is sustained by the agriculture sector, the telecommunications sector, the tourism sector, the banking sector and the mining industry. The country’s agriculture sector is notable for the cultivation of crops like corn, cassava, sweet potatoes, beans, bananas, millet, tobacco, coffee, tea and cotton et al. Tanzania is also notable for the export of gold, diamonds, Silver, copper, gypsum and graphite.
One of the fastest growing sectors in Tanzania is the tourism sector. As a matter of fact, travel and tourism employs over 10 percent of the total work force of Tanzania. The country’s major tourist sites are Mount Kilimanjaro (Africa’s highest mountain), Lake Manyara National Park, Tarangire National Park, the Ngorongoro Conservative Area, and Zanziba (Serengeti National Park).
Over and above, the economy of Tanzania is rated as a poor economy but with hope of growth if the natural resources are well harnessed and if policies are but in place to support entrepreneurs. In essence Tanzania can be considered as a green field for investors because almost all the sectors in the country are still very much open.
So if you are an investor looking towards investing in the African continent, then you should consider investing in Tanzania. Below are the top 10 business opportunities that are available for investors in Tanzania:
Top 10 Small Business Investment Opportunities in Tanzania
1. Aviation Company
Although, road transportation is responsible for 80 percent of the transportation of passengers off from spot to another simply because the aviation industry is still a growing one. Tanzania has 4 international airports and 5 airline companies.
If you are an accredited investor looking towards investing in Africa, it would pay you to establish your own airline company in Tanzania. No doubt it is expensive to start an Airline Company, but the truth is that it is a highly profitable business enterprise and the government of Tanzania is ready to issue license to investors that are willing and have what it takes to invest in this sector.
2. Tobacco Manufacturing Company
Tanzania is notable for the cultivation of large quantities of tobacco. If you are looking towards starting a manufacturing company in Tanzania, you should consider starting your own tobacco manufacturing company. The truth is that if you establish this kind of business in Tanzania, you will have access to cheap raw materials and also cheap labor. The international market for tobacco manufactured in Tanzania is indeed encouraging.
The soil composition and climatic condition in Tanzania is highly suitable for the cultivation of tea and coffee. If you intend starting a business in Tanzania, it would pay you to establish your own tea and coffee production company. The truth is that you would have a lot of leverage ranging from arable land for the cultivation of tea and coffee, to cheap labor.
Another positive you stand to enjoy when you establish your tea and coffee manufacturing company in Tanzania is that you won’t have to struggle to sell your products because there are large international market for tea and coffee produced in Tanzania. All that is expected from you is to explore international market if you truly want to make it big with this kind of business.
Tanzania’s agric sector can boast of large cultivation of crops like corn, cassava, sweet potatoes, beans, bananas, millet, tobacco, coffee, and tea but the major challenge that this sector is facing is the preservation of this crop. If you have the capacity to establish a food processing plant in Tanzania, you would definitely reap good returns on your investment especially when your commodity is cheaper than the ones imported from other countries.
Tanzania is a major tourist destination in Africa. The travel and tourism sector is responsible for the employment of over 10 percent of the country’s labor force. Presently, the travel and tourism industry is considered to be the fastest growing sector in Tanzania and it is still very much open to investors. So if you are looking towards establishing your own business in Tanzania, then you should consider starting your own Travels and Tourism Company.
Tanzania is rated as an under developed country and it lacks many basic infrastructure. If you are an accredited investor with interest in the African continent, it would pay you a great deal to establish a construction company in Tanzania. There are loads of construction jobs to be done in Tanzania and the construction companies available in Tanzania aren’t empowered enough to handle most of the jobs.
7. Mechanized Farming
Tanzania can boast of vast arable land, good climatic condition and cheap labor force. If you are interested in the Agric sector in Tanzania, you would be rated above loads of farmers if you engage in mechanized farming. Although you would require high capital for the purchase and maintenance of your tractors and heavy duty farming machines, but the truth is that you will indeed reap good returns on your investment in the long run.
By all indices, the average Tanzanian is living below the poverty line and they will be willing to pay less to get the basic things they need. If you open your consignment shop in any of the towns or cities in Tanzania, you will have high patronage. Just ensure that you have stuffs like clothes, shoes, toys, electronics, bags, electric stoves, fridge, clippers etc.
9. Water Refill Station-: The government of Tanzania is still grappling with providing clean and portable water to its citizens. If you are thinking of starting a business in Tanzania, then you should consider opening a water refill station. It is a very profitable venture in Tanzania.
10. Rental Services-: Rental service is another thriving business in Tanzania. If you open your rental services and you rent public address system, chairs and tables, canopies, etc. You can boast to have loads of people patronizing you on a regular basis.
There you have it; the top 10 business opportunities available in Tanzania. This is one African country that can guarantee good returns on your profit when you invest there.