The Tanzania mobile money market size was valued at USD 80.0 Billion in 2024. Looking forward, the research estimates the market to reach USD 221.0 Billion by 2033, exhibiting a CAGR of 12.0% during 2025-2033. The market is driven by high mobile phone adoption, limited banking access, and supportive regulations. Affordable smartphones and mobile internet expansion enhance digital financial inclusion. Demand for convenient, low-cost transactions fuels growth, especially among unbanked populations. Agent networks and business adoption enhance accessibility, while partnerships with financial institutions introduce micro-loans and insurance. Rising digital literacy is also augmenting the Tanzania mobile money market share.
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.
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.
Key Market Segmentation:
The research provides an analysis of the key trends in each segment of the Tanzania mobile money market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on 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
Competitive Landscape:
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:
- M-Pesa (Vodacom Tanzania Limited)
- Tigo Tanzania (MIC Tanzania Public Limited Company)
- Airtel Money Tanzania Limite.
Key Questions Answered in This Report
- How big is the Tanzania mobile money market?
- What is the future outlook of Tanzania mobile money market?
- What are the key factors driving the Tanzania mobile money market?
- Which segment accounted for the largest Tanzania mobile money transaction type market share?
- Which are the leading companies in the Tanzania mobile money market?
Table of Contents
1 Preface3 Executive Summary9 Regulatory Framework
2 Scope and Methodology
4 Introduction
5 Tanzania Mobile Money Market
6 Market Breakup by Technology
7 Market Breakup by Business Model
8 Market Breakup by Transaction Type
10 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- M-Pesa (Vodacom Tanzania Limited)
- Tigo Tanzania (MIC Tanzania Public Limited Company)
- Airtel Money Tanzania Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | June 2025 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 80 Billion |
| Forecasted Market Value ( USD | $ 221 Billion |
| Compound Annual Growth Rate | 12.0% |
| Regions Covered | Tanzania |
| No. of Companies Mentioned | 3 |
