Advancements in technology have been a driving force for young people to grow their small and medium enterprises (SMEs) thanks to business digital tools that simplify communication and transactions between customers and sellers.

Along with government efforts to create a favorable environment for technology growth through sound investment policies and encouraging Public Private Partnerships (PPP), Fintechs have been at the forefront of emerging innovations that create trust and promote integrity that attracts society to believe in selling and buying online.

Victor Chedi, a user of smart business services, says that he has become self-employed in the innovation industry with three products that he delivers to his customers through technology.

“IT solutions have come to simplify doing business by creating an environment for sellers and buyers. Through the development of technology, a young person like me has been able to start an online shipping service company – BodaFasta,” says Chedi.

Helman Mwageni, CEO and Founder Peculiar Enterprises Ltd invented a SmartBusiness application two years ago that is meant to enable SMEs to manage sales records and make timely financial decisions.

Mwageni said in an interview at the weekend that SmartBusiness app was invented two year ago and has managed to make a breakthrough in Tanzania and several countries with over 18,000 subscribers.

 According to him, the app has become an online smart business solution that far from record-keeping it provides insights that helps SMEs with real-time sales and market trends.

“The digital business doing solution has received a welcoming sight for SMEs with 4,569 subscribers in Tanzania while Kenya leads with 5,755 users. SmartBusiness is also used by SMEs in Zambia, Ghana, South Africa and Uganda,” said Mwageni.

He asserted that his company foresees a bright future with the SmartBusiness solution as new marketing intelligence features are underway.

“The government’s dedicated efforts in mainstreaming FinTech and ICT solutions are largely impacting youths-led businesses. Going forward the purpose is to enable SMEs to turn data into useful decision-making tools with new innovations such as AI-powered analysis and a smart business digital store,’ said Mwageni.

The Tanzania Business Report 2024/25 high[1]lights that the ICT sector is projected to grow by 13.5 percent by 2026, further solidifying its role as a key driver of economic growth;

The ICT sector’s growth is part of a larger trend of positive economic performance in Tanzania, with a projected GDP growth of six percent in 2025.

On the other hand, the Tanzania Start-ups Ecosystem Report 2022 shows that employment opportunities created by the ICT and innovation sectors grew by 14.65 percent creating 89,509 direct and indirect jobs. Known licensed Start-ups increased to 673 at the end of 2022 from 587 at the end of 2020.