The growing mobile money sector in Tanzania is dominated by two providers, namely Vodacom’s M-Pesa and Tigo Pesa. By June 2023, the total number of mobile money subscribers in Tanzania exceeded 47.2 million.
Mobile money – How does it work?
Registered users can deposit cash in their digital mobile money account, make withdrawals or transfers. These transactions are managed by communication agencies like Vodacom and their licensed agents. To sign up, prospective users must purchase a SIM card from the provider, and while the registration is free, transactions are fee-based. Unlike other forms of mobile/digital payments, mobile money is not linked to bank accounts.
M-Pesa as market leader in Tanzania
Against the backdrop of increasing internet access and smartphone usage, the mobile money industry is growing at a rapid pace. After Safaricom launched M-Pesa in Kenya in 2007, it has become Africa’s leading mobile money service. In Tanzania, the provider has dominated the market in recent quarters, accounting for over 106 million mobile money transactions in March 2020. During that month, the overall value of mobile money transactions reached 3.9 billion U.S. dollars in Tanzania.
Number of mobile money subscriptions in Tanzania from 2018 to 2023, by operator and quarter
(in millions)
Characteristic
Vodacom (M-Pesa)
Tigo (Tigo Pesa)
Airtel (Airtel Money)
Halotel (Halopesal)
TTCL (T-Pesa)
Zantel (EzyPesa)
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TCRA. (June 30, 2023). Number of mobile money subscriptions in Tanzania from 2018 to 2023, by operator and quarter (in millions) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1080805/tanzania-mobile-money-subscriptions-by-operator/
TCRA. "Number of mobile money subscriptions in Tanzania from 2018 to 2023, by operator and quarter (in millions)." Chart. June 30, 2023. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1080805/tanzania-mobile-money-subscriptions-by-operator/
TCRA. (2023). Number of mobile money subscriptions in Tanzania from 2018 to 2023, by operator and quarter (in millions). Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1080805/tanzania-mobile-money-subscriptions-by-operator/
TCRA. "Number of Mobile Money Subscriptions in Tanzania from 2018 to 2023, by Operator and Quarter (in Millions)." Statista, Statista Inc., 30 Jun 2023, https://www.statista.com/statistics/1080805/tanzania-mobile-money-subscriptions-by-operator/
TCRA, Number of mobile money subscriptions in Tanzania from 2018 to 2023, by operator and quarter (in millions) Statista, https://www.statista.com/statistics/1080805/tanzania-mobile-money-subscriptions-by-operator/ (last visited August 24, 2024)
Number of mobile money subscriptions in Tanzania from 2018 to 2023, by operator and quarter (in millions) [Graph], TCRA, June 30, 2023. [Online]. Available: https://www.statista.com/statistics/1080805/tanzania-mobile-money-subscriptions-by-operator/