Zambia - Telecoms, Mobile and Broadband - Statistics and Analyses
Tanzanian telcos expand m-money services
Competition among Tanzania’s network operators has encouraged them to improve and extend the capabilities of their m-money and m-payment services in recent years. In common with many other markets in the region, the poor delivery of conventional bank services has spurred the use of the mobile banking platform.
This has also improved revenue growth for the MNOs. Recently, Airtel Tanzania partnered with I&M Bank to provide a mobile wallet overdraft service, enabling subscribers to make payments even if they have insufficient funds in their digital wallets. The lack of funds had previously been a major brake on the use of m-payment services.
Tigo Pesa some years ago received the coveted GSMA Mobile Money Certification, a testimony to the resilience of the company’s systems.
For its part, Halotel Tanzania has launched its HaloPesa m-banking service. The company aims to sign up an additional three million subscribers by 2023, bringing its subscriber base to at least ten million. The company’s focus will remain in rural areas, where a large proportion of the population lives but where coverage by its competitors is poor, and also where conventional banking services are weakest.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook