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Tanzania Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The Tanzania mobile money market reached a value of US$ 54.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 120.4 Billion by 2027, exhibiting a CAGR of 14.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Mobile money is a payment method that allows people to receive, store and spend money using a mobile phone. It is sometimes referred as a 'mobile wallet' or by the name of a specific service platform such as M-Pesa, GCash, EcoCash, Tigo Pesa, etc. The easy and safe electronic payments make mobile money a popular alternative to bank’s brick-and-mortar approaches.

 

 
 

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Tanzania is the largest mobile money market in Africa. It has become the first country in Africa to introduce interoperability between rival mobile money services. The market has been driven by the ubiquity of mobile phones among people from all socio-economic backgrounds with extensive coverage of mobile networks and penetration of internet. According to industry reports, 64% of adults in Tanzania use mobile phones for financial transactions. Various financial services, such as microloans, mobile insurance, hospitalization covers via mobile money and the credit services offered by mobile operators, have increased the number of mobile money accounts in the region. Mobile money has also been evolved beyond simple money transfer and allows people to save, insure and borrow money as well. Moreover, banks in the country are transforming their physical footprints and customer experience which has further helped them to promote a broader awareness of various financial services. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Tanzania mobile money market, along with forecasts for the period 2022-2027. Our report has categorized the market based on technology, business model and transaction type.

Breakup by Technology:

 

 
 

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  • USSD
  • Mobile Wallets
  • Others


Currently, USSD holds majority of the market share in the Tanzania mobile money market.

Breakup by Business Model:

  • Mobile Led Model
  • Bank Led Model


Currently, mobile led model holds the largest share in the Tanzania mobile money market.

Breakup by Transaction Type:

  • Peer to Peer
  • Bill Payments
  • Airtime Top-ups
  • Others


Currently, peer to peer transaction type holds the highest share in the market.

Competitive Landscape:

The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:

  • M-Pesa (Vodacom Tanzania Limited)
  • Tigo Tanzania (MIC Tanzania Public Limited Company)
  • Airtel Money Tanzania Limited


Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Technology, Business Model, Transaction Type
Companies Covered M-Pesa (Vodacom Tanzania Limited), Tigo Tanzania (MIC Tanzania Public Limited Company), and Airtel Money Tanzania Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Tanzania Mobile Money Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Technology
    5.5    Market Breakup by Business Model
    5.6    Market Breakup by Transaction Type
    5.7    Market Forecast
    5.8    SWOT Analysis
        5.8.1    Overview
        5.8.2    Strengths
        5.8.3    Weaknesses
        5.8.4    Opportunities
        5.8.5    Threats
    5.9    Value Chain Analysis
    5.10    Porters Five Forces Analysis
        5.10.1    Overview
        5.10.2    Bargaining Power of Buyers
        5.10.3    Bargaining Power of Suppliers
        5.10.4    Degree of Competition
        5.10.5    Threat of New Entrants
        5.10.6    Threat of Substitutes
6   Market Breakup by Technology
    6.1    USSD
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Mobile Wallets
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Others
        6.3.1    Market Trends
        6.3.2    Market Forecast
7   Market Breakup by Business Model
    7.1    Mobile Led Model
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Bank Led Model
        7.2.1    Market Trends
        7.2.2    Market Forecast
8   Market Breakup by Transaction Type
    8.1    Peer to Peer
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Bill Payments
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Airtime Top-ups
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Others
        8.4.1    Market Trends
        8.4.2    Market Forecast
9   Regulatory Framework
10  Competitive Landscape

    10.1    Market Structure
    10.2    Key Players
    10.3    Profile of key players
        10.3.1    M-Pesa (Vodacom Tanzania Limited)
        10.3.2    Tigo Tanzania (MIC Tanzania Public Limited Company)
        10.3.3    Airtel Money Tanzania Limited

List of Figures

Figure 1: Tanzania: Mobile Money Market: Major Drivers and Challenges
Figure 2: Tanzania: Mobile Money Market: Transaction Value (in Billion US$), 2016-2021
Figure 3: Tanzania: Mobile Money Market: Breakup by Technology (in %), 2021
Figure 4: Tanzania: Mobile Money Market: Breakup by Business Model (in %), 2021
Figure 5: Tanzania: Mobile Money Market: Breakup by Transaction Type (in %), 2021
Figure 6: Tanzania: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2022-2027
Figure 7: Tanzania: Mobile Money Industry: SWOT Analysis
Figure 8: Tanzania: Mobile Money Industry: Value Chain Analysis
Figure 9: Tanzania: Mobile Money Industry: Porter’s Five Forces Analysis
Figure 10: Tanzania: Mobile Money Market (USSD): Transaction Value (in Billion US$), 2016 & 2021
Figure 11: Tanzania: Mobile Money Market Forecast (USSD): Transaction Value (in Billion US$), 2022-2027
Figure 12: Tanzania: Mobile Money Market (Mobile Wallets): Transaction Value (in Billion US$), 2016 & 2021
Figure 13: Tanzania: Mobile Money Market Forecast (Mobile Wallets): Transaction Value (in Billion US$), 2022-2027
Figure 14: Tanzania: Mobile Money Market (Others): Transaction Value (in Billion US$), 2016 & 2021
Figure 15: Tanzania: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2022-2027
Figure 16: Tanzania: Mobile Money Market (Mobile Led Model): Transaction Value (in Billion US$), 2016 & 2021
Figure 17: Tanzania: Mobile Money Market Forecast (Mobile Led Model): Transaction Value (in Billion US$), 2022-2027
Figure 18: Tanzania: Mobile Money Market (Bank Led Model): Transaction Value (in Billion US$), 2016 & 2021
Figure 19: Tanzania: Mobile Money Market Forecast (Bank Led Model): Transaction Value (in Billion US$), 2022-2027
Figure 20: Tanzania: Mobile Money Market (Peer to Peer): Transaction Value (in Billion US$), 2016 & 2021
Figure 21: Tanzania: Mobile Money Market Forecast (Peer to Peer): Transaction Value (in Billion US$), 2022-2027
Figure 22: Tanzania: Mobile Money Market (Bill Payments): Transaction Value (in Billion US$), 2016 & 2021
Figure 23: Tanzania: Mobile Money Market Forecast (Bill Payments): Transaction Value (in Billion US$), 2022-2027
Figure 24: Tanzania: Mobile Money Market (Airtime Top-ups): Transaction Value (in Billion US$), 2016 & 2021
Figure 25: Tanzania: Mobile Money Market Forecast (Airtime Top-ups): Transaction Value (in Billion US$), 2022-2027
Figure 26: Tanzania: Mobile Money Market (Others): Transaction Value (in Billion US$), 2016 & 2021
Figure 27: Tanzania: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2022-2027
Figure 28: Tanzania: Mobile Money Market: Breakup by Key Players (in %)

List of Tables

Table 1: Tanzania: Mobile Money Market: Key Industry Highlights, 2021 and 2027
Table 2: Tanzania: Mobile Money Market Forecast: Breakup by Technology (in Billion US$), 2022-2027
Table 3: Tanzania: Mobile Money Market Forecast: Breakup by Business Model (in Billion US$), 2022-2027
Table 4: Tanzania: Mobile Money Market Forecast: Breakup by Transaction Type (in Billion US$), 2022-2027
Table 5: Tanzania: Mobile Money Market: Competitive Structure
Table 6: Tanzania: Mobile Money Market: Key Players


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Key Questions Answered in This Report

The Tanzania mobile money market was valued at US$ 54.5 Billion in 2021.

We expect the Tanzania mobile money market to exhibit a CAGR of 14.2% during 2022-2027.

The rising inclination of banking institutions towards numerous advanced financial services, along with the increasing penetration of smartphones, is primarily driving the Tanzania mobile money market.

The sudden outbreak of the COVID-19 pandemic has led to the rising adoption of mobile money over conventional cash-based methods across the nation to administer the financial transactions with minimal human interaction to mitigate the risk of the coronavirus infection.

Based on the technology, the Tanzania mobile money market can be segmented into USSD, mobile wallets, and others. Currently, USSD technology holds the majority of the total market share.

Based on the business model, the Tanzania mobile money market has been divided into mobile led model and bank led model, where mobile led model currently exhibits a clear dominance in the market.

Based on the transaction type, the Tanzania mobile money market can be categorized into peer to peer, bill payments, airtime top-ups, and others. Among these, peer to peer transaction type accounts for the largest market share.

Some of the major players in the Tanzania mobile money market include M-Pesa (Vodacom Tanzania Limited), Tigo Tanzania (MIC Tanzania Public Limited Company), Airtel Money Tanzania Limited, etc.

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