This article draws from both the live panel discussion at the Tanzania Impact Investors Forum on April 28, 2025, as well as pre-panel interviews conducted with each entrepreneur.
I arrive at the Tanzania Impact Investors Forum one hour before my panel is set to begin, running through my notes one last time. The conference room is already buzzing with attendees intently listening to the panel discussion taking place before lunch. The expansive venue space is filled with investors seeking impactful prospects and entrepreneurs at various stages of their journeys, while key stakeholders and members from the Swiss Embassy, our hosts and organizers for the event, move through the crowd with purpose.
By 15:05, the room fills with some local entrepreneurs stationing near the back wall and international investors in the front rows, notebooks ready. I’ve spent the last week preparing for this conversation, conducting one-on-one interviews with each founder to uncover the stories behind their success. My goal is singular: to guide a conversation grounded in authentic insight rather than startup theatre.
Four founders join me on stage, representing waste management, agricultural technology, financial services, and ethical consumer goods. What unfolds over the next hour is a masterclass in entrepreneurial resilience, one that reveals how building impactful businesses in East Africa requires patience, strategic thinking, and deep community connection.
The Quiet Revolutionaries
Andrew Wallace adjusts his microphone with the practiced ease of someone used to explaining complex systems. As CEO of Chanzi, one of the largest insect protein producers in the southern hemisphere, he’s turned the concept of waste into a resource opportunity of continental scale.
“We’re the only company that will have eighteen metric tonnes of organic waste at our door and be happy to say ‘thank you for it,'” he says, prompting appreciative laughter from the audience.
During our pre-panel interview, Wallace shared that since officially launching in 2021, Chanzi has expanded to four cities in East Africa with plans to reach forty cities in the next five years. Their model transforms organic waste into insect protein for livestock feed, addressing waste management challenges while reducing reliance on environmentally taxing fish meal.
When I ask about adapting to unexpected challenges, Wallace recounts how input shortages led them to create a company called Okota for waste collection.
“We had to become a solutions provider in our own supply chain,” he explains, noting that recycling rates in Tanzania hover around a mere four percent. [1]
Next to me sits Tahira Nizari, the co-founder of Kazi Yetu, whose presence commands attention despite her calm demeanor. Her company produces, processes & packages ethically sourced Tanzanian tea for global markets and bootstrapped for six years before raising their first impact financing round in 2024.
“There was a lack of confidence coupled with too much humility,” she admits when I ask about the delay in seeking external funding, “along with hesitation to overpromise to funders.” She reflects in hindsight, having learned the value of being more assertive, a lesson that a recent addition to their team helped crystallize.
This straightforward honesty becomes a recurring theme throughout our conversation. There’s a willingness to acknowledge missteps without shame, to present lessons without sugar-coating the journey.
Finding Capital Close to Home
For many African entrepreneurs, the belief that serious money lives elsewhere (in Silicon Valley, London, or other far-off venture hubs) is more than just a feeling; it’s backed by the numbers. In 2024, East African startups secured $725 million in funding [2], accounting for approximately one-third of the continent’s total. Yet, as our panelists have discovered, the tide is slowly turning; not by waiting for distant capital to find them, but by building local ecosystems strong enough to keep opportunity at home.
Iain Usiri, CEO of Ramani, shares his fundraising story. During our pre-panel interview, he mentioned that his company has provided over $200 million in cumulative financing to distributors in fast-moving consumer goods with a remarkable one percent default rate as of this year.
“We started with bootstrap capital of savings between my brother and myself before we started the business,” he reveals. Their acceptance into Y Combinator came because they had “impressive traction, having onboarded seventy-plus customers in just one month.”
But even securing Y Combinator backing didn’t guarantee smooth sailing. “We were burning cash while figuring out what business we were going to build,” Usiri previously shared. “We tried and failed at three before landing on the final software solution.”
Andrew Wallace shares Chanzi’s distinctive approach to capital during our conversation. Despite raising two seed rounds through convertible notes, the company remains 100% founder-owned; a rarity in the startup world. Their confidence in their model is unmistakable.
“We’re confident we can take any city to zero waste,” Wallace states firmly, a bold claim backed by their impressive growth trajectory.
What’s particularly notable is how Chanzi has pioneered innovative fundraising mechanisms beyond traditional venture capital. They’ve secured offtake agreements with SME and corporate clients like ABIBEV who invest capital to establish waste collection facilities, gaining first right of refusal when those facilities become operational.
“These arrangements align incentives perfectly,” Wallace explains. “Our clients solve their waste challenges, we secure critical infrastructure with less dilution, and the environmental impact scales faster than if we relied solely on equity funding.”
When I ask about handling the chicken-and-egg problem of needing traction to fundraise and capital to gain traction, Usiri leans forward intently.
“We were lucky that our investors didn’t impose many conditions and allowed us to operate while offering support,” he notes during the panel.
Then comes what may be the afternoon’s most illuminating insight: Ramani’s success, he suggests, stems not just from luck but importantly, from skill of discernment. Perhaps the company may be viewed as a case study in how patient capital can make or break a startup, particularly in emerging markets. But his advice takes a sharper turn; founders, he insists, must scrutinize investors as rigorously as investors scrutinize them.
“Talk to the entrepreneurs whose deals with your prospective investors didn’t work out,” he urges. “You need more than money… you need someone who will champion you when you miss targets and when the odds turn against you.”
At the far end of the panel, Elia Timotheo nods in agreement. In our pre-panel discussion, he shared that East Africa Foods now moves over 700 tonnes of fresh produce daily with only a two percent loss ratio, but their path wasn’t straight. After starting as a farm that also offered training to other farmers, they changed course when they realized production wasn’t scalable.
“The farm revenue was seasonal and inconsistent,” Timotheo explained during our preliminary call. “This forced us to rethink the business. We switched to aggregating produce using small distribution centers to make the value chain more efficient and improve the process of getting product from farm to market.”
During our interview, he revealed their transition was fueled by a $15,000 grant in year two, followed by debt financing (six figure dollar amount) over two years from a local financial institution. The debt was used partially to build their first facility.
“We learned tough lessons negotiating those early financing contracts,” he adds during the panel. “We had an instance where a financier included a warrant clause that could trigger cap table exposure (and potential dilution) long before we were ready to restructure or open up our equity. These days we don’t dismiss the fine print. In fact, ChatGPT is our first point of reference for key items of consideration before engaging professionals.”
Beyond securing capital, another major differentiator for these founders was how thoughtfully they used technology. For them, tech wasn’t a silver bullet but a strategic tool to build resilience, efficiency, and scale.
Technology Grounded in Reality
Research shows digital-first companies grow revenue twice as fast as non-digital peers[3], a shift increasingly seen in Tanzania as startups use technology to scale faster and create more impact. Yet our panelists approach technology with practical wisdom rather than blind faith.
When I ask Andrew Wallace about building a custom management system, he shares a perspective rarely voiced in tech discussions.
“Off-the-shelf systems used for over three years weren’t working for us,” he says. “We had to build a solution in-house tailored to our own operating procedures.”
This decision came after experiencing consistency and efficiency problems that threatened their business model. The lesson? Technology must serve the business, not the other way around.
Elia Timotheo describes East Africa Foods’ technology journey from spreadsheets to custom solutions.
“Our basic manual systems created gaps in our operations,” he explains. “We were onboarding 120+ customers per day using Excel sheets. Later we used ready-made systems for tracking, but this wasn’t enough.”
During the panel, Timotheo shares the impressive results of their custom technology solution: “The tech allowed us to onboard 15,000 farmers in just 29 days,” he says with pride, “instead of the much lower number we managed with inefficient Excel sheets and a third party offering.”
Tahira Nizari approaches technology from yet another angle, sharing how Kazi Yetu uses a digital farmer management tool to ensure sustainable sourcing while maintaining quality.
“We’ve been deliberate in communicating our impact through online channels,” she says. “But technology supports our core mission, it isn’t the mission itself.”
People Power
As our conversation shifts to talent and leadership, the energy in the room intensifies. Studies show over sixty percent of startups fail due to team-related issues, whether poor leadership, mismatched skills, or inability to grow talent alongside the business.[4]
Iain Usiri speaks plainly about Ramani’s journey: “We have evolved.” When I ask what warning signs founders should watch for when talent isn’t keeping pace with company growth, he reflects thoughtfully. “We’re now bringing in more international talent in the technical areas of credit and finance, different from our initial approach of focusing locally. But prior to this, I also leveraged myself to fill critical knowledge or skill gaps in the leadership team. I was keen on educating myself more, since my background is technical.”
Elia Timotheo takes an even more direct approach to talent management. “We have no mercy toward underperformers,” he states matter-of-factly during the panel. “We used to, but that didn’t bode well for the business or the staff themselves, so now talent that executes is our top priority.”
This straightforward stance on accountability might seem harsh, but it comes from a basic understanding: when resources are limited, every team member must contribute meaningfully to the mission.
Andrew Wallace shares how hiring a technical leader became crucial for Chanzi’s efficiency. “We needed specialized leadership to solve consistency and efficiency problems that were holding back our growth.”
Throughout these discussions of talent and technology, a common thread emerges: these founders view their businesses not as tech companies working in agriculture, waste management, or finance, but as impact enterprises supported by technology and driven by people.
Beyond Money: Building Relationships That Last
As we near the end of our panel, the conversation turns to investor relationships which is perhaps the most nuanced aspect of the entrepreneurial journey.
Tahira Nizari shares how Kazi Yetu’s collaborative investor relationships have yielded unexpected benefits. “Our investor network has led to a partnership with an international European tea brand that we’re now sourcing and packing for,” she reveals during the panel. “It’s been a win-win-win across the board.”
She also speaks about the incredible value of designing her own grant. This approach gave her company control over outcomes while still satisfying funders’ requirements (a creative solution to the often rigid structures of grant funding). Through it, Kazi Yetu has built a cooperative factory to process black and green tea that has allowed them to source 100% in Tanzania having been forced to look to the Rwandese market prior. The grant allowed them to stabilize their supply chain and amplify their existing efforts, building what was needed. They have 1% ownership in the facility which allows them to facilitate administrative and quality control support.
Andrew Wallace draws knowing laughter when he compares investor relationships to marriage. “It’s about choosing right,” he says during the panel. “The relationship with investors is like choosing a wife. The importance of finding aligned values cannot be overstated.”
Iain Usiri emphasizes the value of angel investors who offer patience during inevitable difficult periods. “You need investors who believe in you regardless and champion you especially when you most need it,” he says.
What’s striking about these perspectives is their focus on relationship quality over transaction speed; a contrast to the “grow at all costs” mentality that has dominated startup culture for years.
The Long Game
The session approaches its conclusion and I ask each panelist to share their ultimate vision, their audacious impact goal their businesses work to achieve in the next 5 years. Each answer ultimately ties back to the north stars they shared in the quick fire session opener:
“Women job creation and amplifying the value chain,” Tahira responds without hesitation.
“To build a supply chain infrastructure for 100 million people and help them obtain financial inclusion,” says Iain.
“Food!” Elia exclaims with unexpected passion. “To feed people in the largest growing cities, starting with Dar.”
“Simply, Zero waste” Andrew concludes.
These aren’t the grand, vague visions typical of startup pitches. They’re specific, measurable goals rooted in solving real problems for real communities.
Key Lessons for Impact Entrepreneurs
For entrepreneurs and investors looking to make a difference in East Africa’s entrepreneurial ecosystem, these founders offer several critical lessons:
Patient Capital Creates Resilience: The right investors provide more than money, offering guidance, connections, and support when targets are missed. Seek investors aligned with your long-term vision.
Technology Should Serve, Not Lead: Deploy technology strategically to solve specific operational challenges rather than chasing the latest innovations. Custom solutions tailored to local contexts often outperform off-the-shelf options.
Talent Development Is Non-Negotiable: Build teams capable of evolving with your business, and be willing to make difficult decisions about underperformers. As a founder, continuously develop your own skills to fill critical leadership gaps.
Adaptability Drives Sustainability: All four companies pivoted from their original models based on market realities. The willingness to change course when evidence demands it, without abandoning core mission, distinguishes successful impact enterprises.
Impact Measurement Matters: Each founder articulated specific, measurable impact goals tied to their business operations. This clarity helps align teams, attract the right investors, and maintain focus through inevitable challenges.
As the formal session concludes and audience members work to engage the panelists for follow-up conversations, I reflect on what we have witnessed: a view of entrepreneurship that values endurance over disruption, relationships over transactions, and measured impact over explosive growth.
These entrepreneurs deserve recognition not merely for sharing their journeys, lessons, and aspirations, but for the tangible ways their work shapes daily life in Tanzania. From the food on our tables, made more accessible through Elia’s innovations; to the waste management solutions and cleaner cities Andrew pioneers; to the financial services that empower small businesses to dream bigger, thanks to Iain’s efforts; and the sustainable, homegrown teas that Tahira has elevated into globally award-winning choices for conscious consumers.
In a world increasingly skeptical of tech promises and growth-at-all-costs models, these founders are playing the long game offering something refreshingly substantial: a reminder that the most meaningful innovations often unfold not in spectacular bursts but in the patient work of building systems that serve genuine human needs. And in doing so, they may be writing new rules for what successful impact entrepreneurship looks like, with rules grounded in the particular challenges and opportunities of the African continent yet increasingly relevant to a world grappling with limits to growth and the need for inclusive development.
The session closes on a powerful note: a reminder that the true currency of impact investing is trust. Trust between entrepreneurs and investors. Trust within teams. Trust between businesses and the communities they serve.
Walking off the stage, I felt a profound sense of gratitude for the panelists’ openness, and an appreciation for the quiet movement reshaping how business is done in Tanzania and beyond. My takeaway: impact isn’t just a buzzword; it’s personal, practical, painstaking, and powerful. Tahira, Iain, Andrew and Elia demonstrate that real change doesn’t happen overnight, nor does it happen alone. It happens brick by brick, relationship by relationship. Built with purpose, resilience, and, above all, heart.
References
[^1]: The Guardian Tanzania. (2025, February 6). Despite huge potential, recycling at 5–10% only. Retrieved from https://ippmedia.com/the-guardian/news/local-news/read/despite-huge-potential-recycling-at-5-10pc-only-2025-02-06-185354
[^2]: Ecofin Agency. (2025, January 10). African startups raise $2.2bn in 2024, down 24%. Retrieved from https://www.ecofinagency.com/telecom/1001-46299-african-startups-raise-2-2bn-in-2024-down-24
[^3]: Boston Consulting Group. (2020, May 20). Increasing the Odds of Success in Digital Transformations. Retrieved from https://www.bcg.com/publications/2020/increasing-odds-of-success-in-digital-transformation
[^4]: Harvard Business Review. (2019, March 19). What makes a successful startup team. Retrieved from https://hbr.org/2019/03/what-makes-a-successful-startup-team
