In order to promote partnerships between the two parties, the Tanzania Startup Association (TSA) and the Korean Startup Forum (KSF) have signed a memorandum of understanding (MoU).
According to the group, the agreement was signed in South Korea in front of Mr. Togolani Mavura, Tanzania’s ambassador, who also saw the event. Mr. Mavura pointed out that the MoU serves as a catalyst for promoting official development assistance (ODA) to Tanzania, which is promoted by the government of Korea.
The ambassador stated that the signing of the MoU is a good beginning for attracting business to Tanzania through ODA. Tanzania sold items to South Korea for $45.8 million (Sh103.3 billion) in 2020.