According to IMARC Group’s latest report, titled “Tanzania Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the Tanzania mobile money market size 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.
Mobile money refers to a service using which the users can pay bills, transfer funds between banks accounts, and deposit or withdraw money through mobile phones. It is rapidly gaining popularity as it serves as an easy and safe alternative for making electronic payments. Over the years, mobile money has evolved beyond the simple transfer of money, allowing individuals to save, insure and borrow funds. At present, Tanzania represents the one of leading mobile money market in Africa, with a significant percentage of registered mobile money accounts.
COVID-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Tanzania Mobile Money Market Trends:
The market is primarily driven by the increasing penetration of mobile phones and the internet. At present, the majority of the adult population in Tanzania uses mobile phones for financial transactions. In addition, various financial services, such as microloans, mobile insurance, hospitalization covers, and credit services offered by mobile operators have significantly increased the number of mobile money accounts across the country. Besides this, Tanzania has become the first country in Africa to introduce interoperability where customers from different providers can transfer the funds instantly without any inconvenience, which, in turn, is strengthening the market growth. Furthermore, several banking institutions in the country are introducing various initiatives to promote a broader awareness of different financial services among individuals, which represents another growth-inducing factor.
Tanzania Mobile Money Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the tanzania mobile money market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- M-Pesa (Vodacom Tanzania Limited)
- Tigo Tanzania (MIC Tanzania Public Limited Company)
- Airtel Money Tanzania Limited
Key Market Segmentation:
The report has segmented the tanzania mobile money market on the basis of technology, business model and transaction type.
Breakup by Technology:
- USSD
- Mobile Wallets
- Others
Breakup by Business Model:
- Mobile Led Model
- Bank Led Model
Breakup by Transaction Type:
- Peer to Peer
- Bill Payments
- Airtime Top-ups
- Others
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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