On 22nd October 2024, The CEO Roundtable of Tanzania (CEOrt) hosted a workshop themed “Harnessing Data to Drive Transformative Growth” in Dar es Salaam.
The event brought together key business leaders, data scientists, and government representatives to explore the vital role of data analytics in enhancing business operations and driving economic growth in Tanzania.
It aimed to address several key objectives including understanding the challenges businesses face in integrating data analytics into their strategic growth plans, exploring opportunities for data-driven decision-making across various functions such as finance and marketing, and facilitating collaboration among industry experts and government stakeholders.
CEOrt’s recent survey revealed that only 26.9% of businesses have a well-established data analytics strategy, while 13.5% still rely on intuition rather than data-driven decision-making.
These findings underscore the pressing need for increased awareness and application of data analytics within Tanzanian enterprises.
The workshop featured insights from several influential figures in the Tanzanian business landscape.
Moderating the panel discussion, the Managing Director of JD Electronics, Deep Joshi opened the discussions by emphasizing the importance of clarity in data utilization. “If we know what we’re looking for, then we can use the data the right way to channel insights and drive actionable results,” stressed Joshi.
On his part, Taha Jiwaji, the CEO of Beem Africa, highlighted the challenges many traditional businesses face in digitizing their data and the need for businesses to collect and centralize their data effectively. He said: “A lot of traditional businesses haven’t thought about how to digitize their data. Once you have that in place, there are many opportunities to optimize your routing and improve efficiency.”
On his part, the Director General of the Tanzania Communication Regulatory Authority (TCRA), Dr. Jabiri Kuwe Bakari discussed the regulatory framework that supports data-driven decision-making highlighting the importance of a supportive regulatory environment for innovation. He noted: “Our licensing framework is neutral from technology and services. We want our operators to play around with data without any kind of restrictions.”
The head of Strategy at Vodacom, Jackson Walwa, shared insights on predictive analytics and its role in understanding customer behavior and his emphasis on predictive analytics illustrated its growing importance in strategic decision-making. “Data analytics has evolved significantly. It’s essential for understanding customer behavior and driving sales strategies,” added Walwa.
Eric Massinda, the CEO of Financial Sector Deepening Tanzania (FSDT), stressed the significance of research in financial inclusion reinforcing the necessity for comprehensive data collection to inform policy and business strategies. “Our surveys provide insights into how Tanzanians use financial services and help identify gaps in access,” he noted.
The event concluded with a collaborative session aimed at identifying focus areas for further exploration.
Participants left the workshop equipped with actionable strategies for leveraging data analytics effectively within their organizations.
About the CEO Roundtable of Tanzania
CEOrt is a prominent association of business leaders dedicated to promoting sustainable economic growth and development in Tanzania. Founded in 2001, TCR serves as a platform for CEOs and senior executives from various sectors to engage in dialogue, share best practices, and advocate for policies that foster a favorable business environment.
The TCR focuses on key areas such as investment promotion, economic policy reform, and corporate social responsibility. By facilitating collaboration between the private sector and government, the Round Table aims to drive innovation, enhance competitiveness, and create job opportunities in Tanzania.
Members of the Tanzania CEO Round Table are influential figures who play a crucial role in shaping the country’s economic landscape. Through regular meetings, events, and initiatives, TCR strives to address critical challenges and harness opportunities for sustainable development.
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