The last quarter of 2017 saw an expansion in the money transfer services market in Tanzania, with Vodacom’s M-Pesa leading the march.
According to the latest Tanzania Communications Regulatory Authority (TCRA) statistics, mobile money customers increased from 17,406,033 to 18,080,622 as at the end of the fourth quarter in December 2016 in the industry whose rapid growth has helped in extending the cover of financial inclusion.
The figures indicate a surge in mobile number customers from October to December, after a dip in September. Vodacom’s M-Pesa held its leading position with 42 per cent shares in the mobile money market as at the end of the fourth quarter last year, up from 41 per cent in the third quarter. Its customer grew from 7,034,839 in September to 7,487,735 in December 2017.