The latest report by the Tanzania Communications Regulatory Authority (TCRA) shows that the number of mobile money subscribers in Tanzania has reached 44.35 million as of the end of March 2023, with a total of 421,094,958 million transactions.
This increase in subscribers and transactions is indicative of a growth in financial inclusion, as more people are using mobile money services for sending, receiving, and storing money. The TCRA data also shows that the number of subscribers recorded during the first three quarters of the 2022/2023 fiscal year is higher than the total number of subscribers recorded in the past three years (2020, 2021, and 2022).
In 2020, there were 32.26 million subscribers, which increased to 35.28 million subscribers in 2021 and 40.95 million subscribers in 2022. The average rate of increase in subscriptions has been 13 percent per year, according to TCRA.
Vodacom holds the largest share of the mobile money market at 36 percent, followed by Tigo with 31 percent, Airtel with 21 percent, Halotel with 9 percent, and TTCL with 3 percent. In terms of transactions, the data shows a steady increase from 3.4 billion in 2020 to 4.2 billion in 2022. The current value of transactions has not been disclosed by TCRA, but previous data has shown that the annual value of mobile money transactions was Sh13.89 trillion as of December 2022.