Startups in Tanzania have been encouraged to build credibility, strengthen their work ethic, and demonstrate solid business fundamentals to attract capital and investor confidence.
Speaking during a fireside chat on women’s financial inclusion and access to finance, entrepreneur Nuru Lema from Yana Corp, while sharing her firm's journey since 2023, highlighted the persistent challenges faced by emerging founders, particularly women-led startups.
Nuru noted that many startups continue to struggle with issues of collateral and trust, which remain major barriers when approaching investors.
“Whether women-led firms lack the numbers to back their business, or struggle to build trust in what they do, it becomes challenging to impress investors,” she said.
She emphasized that securing funding requires a strong belief in one’s project, consistent hard work, and a clear understanding of all the essentials needed to move the business forward.
The session, moderated by Subira Bawji, explored the financial hurdles facing women entrepreneurs in Tanzania and the broader systemic challenges limiting their access to capital.
From an entrepreneurial perspective, Nuru, a WCW-certified entrepreneur, urged local investors to relax stringent requirements and reduce unnecessary barriers so that more startups, especially women-led ones, can qualify for funding and scale their businesses.
Her firm, Shule App, which operates across Tanzania’s mainland and Zanzibar, is now preparing for expansion into Uganda, with further regional growth planned in the coming years.
“We started in 2023 with a simple idea to build a comprehensive school management system that could streamline administrative tasks. It wasn’t easy, but we made it work for both government and private schools,” she said.
Her company, ShuleApp, is currently seeking a six-figure investment of at least USD 100,000 to scale its services into the Ugandan market. The funding will support marketing, technology development, talent acquisition, and overall operational costs.