The Tanzania Startup Association (TSA) has today officially launched the Tanzania Startup Ecosystem Status Report 2024, offering a detailed analysis of the country’s rapidly expanding startup landscape.

The report showcases the sector’s impressive growth, highlights emerging trends, and provides actionable insights for stakeholders committed to fostering innovation and driving sustainable economic development in Tanzania.

Developed in collaboration with government ministries, development partners, investors, academia, and ecosystem enablers, the report tracks key indicators such as funding trends, job creation, sectoral performance, and policy developments. It serves as an essential tool for informed decision-making and strategic planning across the ecosystem.

The 2024 findings reveal significant progress: the number of active startups rose by 24%, reaching 1,041 ventures. These startups have become major contributors to employment, creating over 138,453 jobs — a 23% increase compared to the previous year.

Investment into the ecosystem also surged. Foreign Direct Investment (FDI) more than doubled, reaching $53 million (a 112% increase), while Domestic Direct Investment (DDI) grew by 85.5%, totaling $43.4 million. FinTech emerged as the leading sector, attracting $41.4 million — accounting for 78.3% of the total FDI — with AgriTech also maintaining a strong presence.

The report also points to positive developments in gender inclusivity, with the proportion of female-led startups increasing to 16%. Additionally, Tanzanian startups continue to align their efforts with the Sustainable Development Goals (SDGs), particularly SDG 8: Decent Work and Economic Growth.

"This report reflects our continued commitment to supporting Tanzania's entrepreneurial journey," said Zahoro Muhaji, CEO of the Tanzania Startup Association.

 "We hope the findings will assist all those working to support and promote the growth of Tanzania’s startup ecosystem, and we look forward to strengthening these efforts in the years ahead."

The Tanzania Startup Ecosystem Status Report 2024 offers valuable, data-driven insights and strategic recommendations for policymakers, investors, entrepreneurs, and ecosystem support organizations aiming to contribute to Tanzania’s dynamic and thriving startup scene.