NEW ERA FOR VENTURE CAPITAL INDUSTRY IN TANZANIA AS TANZANIA VENTURE CAPITAL NETWORK (TVCN) IS LAUNCHED

Salum Awadh, Founder of Tanzania Venture Capital Network (TVCN).

Tanzania still lags behind in Africa and in East Africa in particular in promoting PE and VC deals. Data indicates that for the period between 2010 to 2016, a total of 167 deals were completed in East Africa, with the total value USD 1.4 billion. Out of that, Tanzania only accounted for 10% of the total deals, and 6% of the total deals value.

Despite the low uptake of PE and VC industry in Tanzania, the country offers massive potential for development of this type of financing, but requires multi-stakeholder efforts.

Tanzania Venture Capital Network (TVCN) is a proposed not-for-profit project to be established under SSC Consulting.

SSC Consulting, a boutique advisory firm offering services in business development, finance, investment, and transactional services (visit www.ssc.co.tz) We also offer intermediary services for PE and VC firms, and we help local companies raise capital in both debt and equity, locally and internationally. We have so far helped our clients raise more than USD 400m, mostly debt.

The primary objective of this network is to promote the development and growth of Private Equity and Venture Capital funding for industrialization and overall economic development in Tanzania.

This will be achieved through the following activities;

• Training
• Awareness
• Events and networking
• Data and Intelligence
• Advocacy
• Research

The network has launched its first issue of a newsletter titled Tanzania PE Update, and plans to carry out the first training titled “ Understanding how VC funding works” to be held in July in Dar es Salaam.

For more updates follow us on our twitter account @TzPrivateEquity, or send us an email to info@tvcan.org, or call us on 0656 006 106.