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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.
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.
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:
Currently, USSD holds majority of the market share in the Tanzania mobile money market.
Breakup by Business Model:
Currently, mobile led model holds the largest share in the Tanzania mobile money market.
Breakup by Transaction Type:
Currently, peer to peer transaction type holds the highest share in the market.
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:
|Base Year of the Analysis||2021|
|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)|
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