Twenty new ride-hailing startups have applied for licenses to operate in Tanzania, according to the Land Transport Regulatory Authority (LATRA). This is a major increase from only 3 companies (Twende, Uber, and Taxify, which rebranded to Bolt) when the market first opened in 2017. LATRA has already granted licenses to 19 of the new startups after they met legal requirements and paid fees. Increased competition in the ride-hailing market could lead to lower fares and more choices for different types of consumers. The growing ride-hailing industry suggests a positive investment climate for technology companies in Tanzania.
The Tanzania Fintech Association (TAFINA) officially launched on March 1. TAFINA’s ten founding members in 2022 were founders and operators from AzamPay, Swahilies, Selcom, NALA, Tunzaa, Cellulant, Kilimo Fresh, MFS Africa, and SmartPay. The launch event included a panel discussion on the role of partnerships in financial inclusion. TAFINA is currently hiring an engagement manager and administration officer who will work closely with the executive committee.
TanzMED, a company developing health information and decision-making tools, received admission into the 2024 HealthTech Hub Accelerator (HTHA) Program. It’s one of only 21 chosen startups. The HTHA provides both a physical co-working space in Kigali and a virtual community for participating startups. Global drug manufacturer Novartis founded the Novartis Foundation, which launched HTHA in 2022. Partners include the Norrsken Foundation, Villgro Africa, Jhpiego, the Global Fund, and over a dozen other innovation and development organizations.
Ookla (a US-based connectivity insights provider) recognized Tigo Tanzania as the "Fastest Mobile Network" in Tanzania for 2023 at the Mobile World Congress (MWC) in Barcelona. Based on Ookla's 2024 speed tests, Tigo achieved the highest median download speed of 25.6 Mbps on mobile devices. While Tigo also operates the country's only 5G network, reaching speeds of 1 Gbps, the technology is currently only accessible to a small portion (2%) of Tigo subscribers due to limited phone compatibility. Other telco operators, Vodacom, Airtel, and Halotel, achieved median speeds of 25.07 Mbps, 19.76 Mbps, and 15.6 Mbps, respectively.
BizyTech, which develops digital agricultural solutions, has been awarded funding by the GSMA Innovation Fund for Climate Resilience and Adaptation 2.0. BizyTech's platform, 'KILIMO BaNDO', offers a suite of digital tools dedicated to empowering farmers. These solutions promote sustainable practices, boost productivity, improve food security, and increase farmer income. KILIMO BaNDO services range from savings (Kilimo Akiba) and insurance (Kilimo Bima) to agronomic advice (Kilimo Bora), loans (Kilimo Mkopo), and a market access offering.