Browsing: African tech startups

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  • Tanzania gives six months tax break to domestic start-ups, usually Small and Micro Enterprises (SMEs).
  • Foreign companies in Tanzania enjoy a five-year tax holiday as permitted by the investment law.
  • At the moment, new Tanzanian businesses are required to full tax payments despite the availability of this six months’ tax break provision

Start-ups in Tanzania are given six months of tax holiday as the government looks to boost the private sector competitiveness but a quick survey on the ground by The Exchange shows the program still lags behind.

The move to extend a tax holiday comes in the wake of persistent outcry by the private sector over the unfair competition by foreign companies that can afford to offer lower prices for their services and/or products.

However, does a reduction in taxes equate to improved productivity, increased efficiency and higher quality of services or products?

There is an overarching argument

Flat6Labs
  • Flat6Labs was one of the crucial investors that contributed to the $3 billion tech investments in 2022, and it continues to shake Africa’s tech ecosystem.
  • Ramez El-Serafy and Dina el-Shenoufy have agreed to invest in more than 160 early-stage startups over the next five years.
  • African tech startups received $3 billion in investments in 2022.

Egypt’s startup accelerator company, Flat6Labs, has announced $95 million in VC funding to boost early-stage technology startups in Africa.

Also, Read Young African investor. Sign up for Dream VC fellowship programmes.

This VC funding for tech startups will focus on three promising territories; North, West and East Africa.

Through this initiative, Flat6Labs aims to extend its reach in newer territories such as Nigeria, Ghana, Kenya, Morocco and Senegal. According to Egypt’s startup accelerator, Africa has proven its might within the tech industry producing several revolutionary companies that can change the trajectory of the tech