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 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 represents a payment method that allows people to receive, store, and spend money by using a mobile phone. It is also called a mobile wallet or by the name of a specific service platform, including M-Pesa, GCash, Eco Cash, Tigo Pesa, etc. Users can pay bills, transfer funds between bank accounts, and deposit or withdraw money via mobile phones. Mobile Money serves as an easy and safe alternative for making electronic payments. It utilizes several types of transactions that are segmented into unstructured supplementary service data (USSD), mobile wallets, and others. Presently, USSD represents the most popular technology used for making mobile money transactions.

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Tanzania Mobile Money Market Trends:

The rising penetration of the internet and mobile phones is primarily stimulating the Tanzania Mobile Money Market. Apart from this, various financial services, such as mobile insurance, micro-loans, hospitalization covers, credit services, etc., that are offered by mobile operators, and the growing number of mobile money accounts are also augmenting the market growth. Moreover, the introduction of interoperability, where customers from providers can transfer funds instantly without any inconvenience, is acting as another significant growth-inducing factor. Besides this, the emerging trend of convenience in service delivery, the expanding mobile money agent network, and the increasing levels of urbanization are also bolstering the market growth across the country. Additionally, numerous banking institutions and government bodies are introducing favorable initiatives to promote a broader awareness of different financial services among individuals, which is anticipated to fuel the Tanzania mobile money market over the forecasted period.

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.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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