Tanzania

D4T, EU, UNCDF Fintech for who Demand for digital financial services and fintech in Tanzania

Fintech for who? Demand for digital financial services and fintech in Tanzania

Tanzania’s digital financial sector has grown rapidly since mobile money was first introduced to the country in 2008, largely thanks to an enabling regulatory environment and a competitive market.

While mobile money account ownership has grown rapidly in recent years —from 32 percent of the adult population in 2014 to 45 percent in 2021— and while advancements in financial technology have allowed providers to offer increasingly innovative and value-added services, millions of Tanzanians remain excluded or under-served by the financial sector.

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