1. Telecom and ICT
The potential in telecom and ICT in Tanzania remains largely untapped. The Tanzanian government has poured substantial investments into the National Fiber Optic Cable network.
The expansion and upgrade of towers in Tanzania boost mobile usage and leads to a drop in prices. But even with a growth in usage, more needs to be done to ensure that maximum value is added to the economy. Mobile banking, for example, has not reached anywhere near its full potential in the Tanzanian market. The country is still very much unbanked with less than 20 percent having a formal bank account. More can be done, particularly with the development of local companies as well as with the expansion of other African companies into the country.
2. Affordable Housing
While housing prices have started to go down, and it seems to be a bad time to invest in the houses. There is still a great demand for quality, yet, low-cost housing that the market has is yet to be filled. If you are seeking opportunities to invest, then building some low-cost housing has enormous potential right now to cater for the large percentage of low income and middle class in Tanzania.
The agribusiness sector in Tanzania holds a lot of potential presently. As incomes increase and education improves for different people, we see a change in their diets. This is for most Tanzanians as well. Experts forecast sustained high GDP growth in Tanzania given the recent discovery of gas reserves and prospects for oil reserves. In the past three years, GDP per capita income has grown by 10 percent. Caloric intake during this time has increased accordingly, followed by a growing demand for vegetables, meat and dairy.
But Tanzania’s commercial-scale farming cannot keep up with growing demand. Tanzania is blessed with diverse climate zones, fertile land, and water to support its agriculture. Yet the amount of commercial-scale farms producing revenues greater than $200,000 in South Africa is approximately 500 times that of the amount found in Tanzania. This only points to one fact, the need for more investment in the agribusiness to meet increasing demands.
4. Tea and Coffee production
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 labour.
Another positive thing 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 markets 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.
5. Travel and Tourism business
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.