Tanzania has already seen large growth in its mobile money services, in line with economic progress. Now, Vodacom Tanzania has reported that its mobile money service, M-Pesa, has reached over 4.4 million users across the country, or some 48 percent of its total customer base.
M-Pesa was launched four years ago, and after an initial slow uptake, the service has taken off across the country.
CEO Rene Meza said “about TZS 35 billion is transacted daily through M-Pesa and attributed this to the fact that the service is safe and reliable and is available throughout the country.”
He added that “efforts to drive access to the product have grown steadily, and Vodacom has managed to build an agent network of over 35,000 outlets.”
Similar services from Vodacom are set to be rolled out in the DRC, Mozambique and Lesotho over the next nine months.
Mobile money services are seen as a key ingredient to furthering economic growth in Tanzania and the Vodacom report is a positive sign that users are employing their mobile phone devices for that purpose.
Tanzania has reported massive economic growth in recent years, making it one of the most vibrant economies in Africa.