M-Pesa Retains Position as Tanzania’s Leading Mobile Money Platform

According to the latest statistics from Tanzania Communications Regulatory Authority (TCRA), Mobile Money services continued to expand in the fourth quarter of 2016 with Vodacom’s M-Pesa maintaining its position as the largest mobile money platform with 42% market share up from 41% in the third quarter.

The country’s total mobile money customers increased from 17 Million in the third Quarter of 2016 to 18.08 million  in the fourth quarter of 2016.

The report indicates that M-pesa users in Tanzania grew from 7.035 million in September to 7.5 million in December. Tigo Pesa retained its position as the second largest money platform despite its market share declining from 36% in Q3 to 34% as of Q4 2016 which represents 6.145 million users.

Related; MPESA hits 280,000 Users in Ghana,Vodafone granted approval by Reserve Bank of India to establish a payments bank

Despite the increase in market share from 22% to 23% in the quarter, Airtel Money retained its position as the third largest money platform in the country with 4.214 Million customers.

Mobile money industry in East Africa has been growing at a rapid rate where the environment is seen as one of the most conducive for financial inclusion.

Meanwhile, internet penetration in Tanzania was recorded at 40% with more than 19.86 Million individuals having access to the internet according to the same report.From the numbers, more than 91% of Tanzanians access the internet using their mobile devices as shown below.

TZ Internet Penetration