Global Brands Magazine has recognized Bolt as the 'Best Ride-Hailing Platform, East Africa 2024'. In Tanzania alone, Bolt has outperformed Uber and 19 other new mobility startups that received licenses from LATRA last month. By August 2023, Bolt had over 50 million rides booked in Tanzania through its app.
Huawei’s digital power subsidiary held its first-ever African summit in Dar es Salaam. It emphasized that declining costs and improved efficiency are making solar energy—combined with battery storage—the most affordable and accessible energy solution. Such photovoltaic systems convert sunlight directly into electricity. And they are scalable for applications ranging from individual homes to large power plants. That’s why the company is leveraging its capabilities in power electronics, thermal management, and AI/cloud integration to drive innovation in the solar market.
The Bank of Tanzania (BoT) Governor announced that 70% of the country's financial sector is privately owned, a trend he attributes to the pro-business policies of the current presidency. Why? The banking sector generated USD 1.1 billion in profit in the quarter ending December 2023, with total assets of USD 140 billion. Also, non-performing loans (NPLs) decreased to 4.3% from 8% in December 2022. The presence of many private banks and financial institutions suggests diverse collaboration opportunities for fintech startups in Tanzania.
Culture and Development East Africa (CDEA), in collaboration with Voice (a global organization that funds civil society groups), recently held their annual awards ceremony. Princely Glorious, cofounder of the AI/VR studio OnaStories, received the Creative Economy category award. Interactive learning startup Smartdarasa was the runner-up in the girls' and women's education category, while Tai Plus took home the top prize for its impactful 3D animations and documentaries.
The Land Transport Regulatory Authority (LATRA) and the Tanzania Revenue Authority (TRA) are partnering to implement an e-ticketing system for public buses. This system aims to promote cashless payments, improve efficiency, and enhance revenue collection.
Tanzania has launched the Personal Data Protection Commission (PDPC), along with a new system for registering data controllers and processors. Going forward, businesses handling personal data will need to register with the PDPC and adhere to data protection regulations. In addition, the PDPC may offer opportunities for collaboration with tech startups developing privacy-enhancing solutions. The government also aims to develop a unified citizen identification number system by the end of 2024, likely impacting how startups handle KYC or user identification processes.
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