The Latest

Tigo Tanzania pushes for Mobile Money Interoperability

December 11, 2012
1 minute read

Tigo announced during the current 16th conference of Financial Institutions held in Arusha that it is pushing for mobile money interoperability between all networks so that customers have easier and safer access to money.

Tigo Tanzania introduced money transfer services “Tigo Pesa” back in 2010 to allow for money payments and transfers via its mobile network. Similar services are now provided by all major mobile operators in Tanzania.

Also speaking at the conference, Bank of Tanzania’s Governor Professor Benno Ndulu estimates that in the last two years total money transactions via mobile network reached TZS 1.7 Trillion (USD 1.06 Billion).

TANZANIA BUSINESS & INVESTMENT GUIDE 2026

He stated that “the number of monthly financial transactions mainly payments and transfer made through mobile money was TZS 1.9 Million. In September 2012, this number skyrocketed to TZS 48 Million, and the total value of monthly transactions increased from TZS 1.8 Billion to TZS 1.7 Trillion”.

Professor Ndulu added that the Bank of Tanzania estimates showed that the value of mobile money transaction reached an impressive 14% of commercial bank’s total private sector deposits.

Tweet
Share
Share
Share
Related Posts
TANZANIA BOT NON-INTEREST ISLAMIC BANKING REGULATIONS
Read More

Tanzania Issues New Regulations for Islamic Banking Operations

The Bank of Tanzania (BOT) has issued new regulations establishing a comprehensive legal framework for Islamic banking and non-interest banking windows in Tanzania. The rules cover licensing, governance, Shari’ah compliance, financing structures, disclosure, and treatment of non-permissible income.
Tanzania Rwanda TIPS RSwitch cross-border instant payments
Read More

Tanzania and Rwanda Begin Linking National Payment Systems to Enable Instant Cross-Border Transfers

Tanzania and Rwanda have begun linking their national payment systems, Tanzania’s Instant Payment System (TIPS) and Rwanda’s National Payment Switch (RSwitch), to enable instant, low-cost cross-border transfers. The initiative, supported by the EAC and World Bank through the Eastern Africa Regional Digital Integration Project (EARDIP), advances regional financial integration and real-time payment connectivity in East Africa.
Tanzania CRDB Bank FinDev Canada KFW DEG
Read More

CRDB Bank Signs Over TZS 300 Billion Strategic Partnerships With International Financial Institutions to Expand Lending to SMEs

CRDB Bank has signed over TZS 300 billion in partnerships with FinDev Canada, DEG, and Shelter Afrique Development Bank to expand lending to small and medium enterprises, particularly those led by women and focused on climate-resilient projects. The partnerships also include financing through CRDB’s subsidiary in the Democratic Republic of Congo to support affordable housing, advancing financial inclusion and sustainable development across Africa.