Tanzania has registered 3.2 million more, mobile money subscribers, in the first quarter of 2022, indicating growth in financial inclusion.
The East African country had 35.7 million subscribers as of March 2022, up from 32.5 million in January, a report shows.
“Figures show an increase in the use of mobile financial services in the country, which has been increasing year after year or every quarter,” the Tanzania Communications Regulatory Authority (TCRA) said in its first-quarter report released at the end of May 2022.
According to TCRA, Vodacom Tanzania’s M-Pesa product has 40 per cent of the mobile money subscription market share, followed by Millicom Tigo at 26 per cent, Bharti Airtel at 21 per cent, Halotel at 9 per cent, and TTCL with its T-Pesa product with 4 per cent.
Mobile network subscriptions also increased, with Vodacom Tanzania, Airtel and Tigo recording the highest rise in numbers.
Vodacom saw an addition of 572,172 new subscribers from January to March making a total of 16,737,350; while Tigo recorded 14,898,739 users in March, up from 14,620,628 users in January; and Airtel gained 16,635 new users to have a total of 14,760,361.