How Tanzania’s Prisca Magori worked her way to Forbes list

Building a company is no easy feat. Building a business and a brand in your 20s and staying consistent and dedicated is even more admirable. The recent publication of the Forbes 30 under 30 Class of 2024 list has honoured Tanzanian techpreneur, Ms Prisca Magori, CEO and Co-founder, TenTen Explore and Smart EFD (Electronic Fiscal Devices).

Smart EFD is a tech solution offered by EVAS Company Limited and developed by TenTen Inc. The co-founder, Prisca, developed the solution together with software developer Hashim Kingu to help companies in Tanzania thrive while complying with tax laws and regulations.

A petroleum engineer by profession, Prisca was driven by her passion for learning, which led her to venture into entrepreneurship, and she dedicated most of her time to learning and understanding the requisites for building a successful business.

Smart EFD allows businesses to issue electronic receipts using a smartphone, computer, laptop, and point of sale (POS) device and is integrated into the Tanzania Revenue Authority (TRA) system.

Headquartered in Dar es Salaam, the business has now registered over 5,000 active users, most of them being small and medium-sized entrepreneurs.

“Reflecting on my journey, I recall beginning a journal in 2019 titled "Forbes," in which I meticulously outlined plans for various business ventures, regardless of their size or scope. These entries were more than mere dreams; they were deliberate, strategic plans designed to elevate me to Forbes-level achievement when the time was right,” she shares.

Over the years, she would go on to periodically review, forgo, and adjust these plans to stay in tune with her changing circumstances, even though her core ambition never wavered.

“As I often remind myself, ‘If you can think of it, then you can attain it.’ This belief has fuelled my persistence and dedication, driving me to transform visions into realities,” she narrates.

“It has also significantly increased my sense of responsibility—not just towards my team and myself, but also towards the growing community of young entrepreneurs.”

“Being recognised in Forbes affirms that my efforts and business strategies are not only effective but also acknowledged on a global stage.”

She further acknowledges that: “The recognition has transcended beyond mere acknowledgment for me. This honour reinforces my commitment to uphold the high standards that facilitated this achievement and to continue challenging the limits of innovation. This accolade is not only a personal triumph but also a compelling motivator to persist in pioneering new paths.”

The dream to make the Forbes 30 under 30 list was a vision Prisca had for quite some time. In 2020, while still employed and without a company of her own, Prisca set a definitive goal: to be listed in Forbes' 30 Under 30 by 2024.

The following year, as her employment contract was nearing its end, she founded a limited company with a partner who profoundly influenced her approach, particularly in leveraging ICT solutions.

“Achieving this milestone is not merely a personal accolade; it stands as a significant validation of my relentless hard work, years of innovation, and sustained success,” Prisca shares.

The startup ecosystem in Tanzania is currently showing great promise, marked by significant improvements in the investment landscape.

There has been a noticeable increase in both local and international investors taking an interest in Tanzanian startups, alongside a steady influx of venture capital into the country.

This growing interest offers a prime opportunity for young entrepreneurs to step forward and steer this momentum.

“To sustain and enhance this growth, the operationalisation of the Tanzania Startup Policy and Act is crucial. It is imperative that this framework is effectively implemented to foster a supportive environment for emerging businesses,” Prisca explains.

“Additionally, there is a pressing need for educational institutions to align more closely with the demands of the tech industry. By doing so, they can ensure the provision of a continuous supply of talent and a skilled workforce that is well-prepared to meet the challenges and opportunities of the technological sector,” she shares, adding that this alignment is essential for maintaining the vitality and competitiveness of Tanzania’s startup space.

“As a company, our primary goal is to achieve sustained growth in both sales and market share. We are committed to expanding our reach and influence in the market, striving to not only maintain our current success but to build upon it,” she shares with regard to the future of her company.

This commitment involves continuously assessing market trends and customer needs, ensuring that our growth strategies are both effective and aligned with market demands.

“In addition to our growth objectives, we place a strong emphasis on innovation, particularly in developing solutions that address the needs of the average Tanzanian and, more broadly, the African continent,” says Prisca.

At the end of the day, the aim is to create products and services that are not only innovative but also accessible and beneficial to a wide demographic.