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We note that Tanzania's telecoms industry is one of the region's most competitive, with a host of big hitters jockeying for a share of the market. Our telecoms team forecasts that there will be more than 52 mobile phone subscribers per 100 inhabitants in 2011 and this will rise to nearly 70 by 2016. These are phenomenal numbers and the sheer manner in which mobile phones have caught on in Africa really highlights what can be achieved on the consumer side. Companies that can invest heavily in distributional infrastructure (getting your products to the final consumer is probably the greatest challenge you have to overcome) are best placed. This is a big reason why telecoms and also soft drinks have been so successful in Tanzania and indeed most of Africa. With income still low, there are potentially dynamic opportunities on offer for low-cost goods targeting the mass market in particular and Tanzania is no exception. Demand for basic essentials such as toothpaste and shampoo will grow considerably over the next few years. With internal distribution systems in terrible shape, large investment into distribution must be made. There is still very little formal leverage across much of Sub-Saharan Africa on the consumer side - retail banking penetration is tiny, which makes the takeoff in mobile banking very exciting, and formal home ownership financing is still mostly in its infancy. So much activity remains under the radar across much of the region, where the informal economy accounts for a big chunk of spending. The huge take off in cell phones over the past decade shows that if the price is right, there are huge opportunities at mass market level, where consumers are willing to embrace new brands.