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Unlocking Economic Potential: Harnessing Technology for Growth in Tanzania’s Informal Sector

In: Economic Transformation in Sub-Saharan Africa, Volume I

Author

Listed:
  • Galinoma G. Lubawa

    (Institute of Rural Development Planning)

  • Simplice A. Asongu

    (University of Johannesburg, School of Economics)

Abstract

This chapter conducts an extensive desk review, synthesising data from many sources using qualitative and quantitative sampling techniques. This study examines how technology may improve Tanzania’s informal sector, drawing from a resource-based lens and the innovation diffusion paradigms. It offers insights into sustainable development, financial inclusion, and economic prosperity. Aligned with multiple Sustainable Development Goals (SDGs), this chapter seeks to tackle poverty (SDG 1), advocate for development-focused policies, foster entrepreneurship, reduce inequality (SDG 10), and facilitate inclusive industrialisation (SDGs 8 and 9). Underscoring the revolutionary impact of digital innovation, mobile technology, and other technological interventions on Tanzania’s informal sector, this chapter conducts comprehensive reviews to identify strategies for efficiently leveraging technology. The focus areas are Poverty Reduction in the Informal Sector, Market Expansion and Connectivity, Fuelling Asset Acquisition and Facility Enhancement, and Access to Financial Services. The chapter anticipates several economic benefits essential to development, outlining how technological applications will formalise Tanzania’s informal sector. Its main objective is to guide policymakers and support a wealthy and just Tanzania, with potential benefits for sustainable development. Tanzania’s findings could offer guidance to other sub-Saharan African countries.

Suggested Citation

  • Galinoma G. Lubawa & Simplice A. Asongu, 2026. "Unlocking Economic Potential: Harnessing Technology for Growth in Tanzania’s Informal Sector," Springer Books, in: Ayodotun Stephen Ibidunni & Evans S. Osabuohien (ed.), Economic Transformation in Sub-Saharan Africa, Volume I, pages 85-121, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-77821-6_4
    DOI: 10.1007/978-3-031-77821-6_4
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