Mobile money subscription in Tanzania has increased by 8.7% from 47.3 million accounts in the second quarter ending June 2023 to 51.4 million accounts in the third quarter ending September 2023 according to the latest data from the Tanzania Communications Regulatory Authority (TCRA).
The number of mobile money transactions during the third quarter this year grew at an average of 3% per month with mobile money transactions increasing from 420.6 million in June to 422.3 million in September 2023, recording a 0.4% growth.
According to Vodacom Tanzania’s M-Pesa commands the biggest mobile money subscription market share of 37% accounting for 19.1 million mobile money accounts in the market, followed by Tigo Pesa at 30% accounting for 15.1 million subscribers and Airtel Money at 22% that accounts for 11.2 million subscribers.
Halopesa commands 8% of the market share accounting for 3.9 million subscribers while T-Pesa has the market share of 3% accounting for 1.5 million subscribers
Data further shows that mobile money accounts increased at an average rate of 2.7% during the third quarter this year.
The number of mobile money transactions during the third quarter this year grew at an average of 3% per month with mobile money transactions increasing from 420.6 million in June to 422.3 million in September 2023, recording a 0.4% growth.
“The number of transactions has increased for the past three years from 3.4 billion in 2020 to 4.2 billion in 2022,” the report shows.
The number of subscriptions has also been growing at an average rate of 13% per annum, while annual average transactions have been increasing at around 11%.
English
Arabic
Chinese (Simplified)
French
German
Italian
Russian
Spanish
Swahili