50 percent of Tanzania women to access mobile financial services by 2020

Women play a crucial role in economic development, and the mobile phone company has decided to support them

50 percent of Tanzania women to access mobile financial services by 2020

Women play a crucial role in economic development, and the mobile phone company has decided to support them

08 mart 2018 Thursday 11:14
50 percent of Tanzania women to access mobile financial services by 2020

By Azania Post Reporter

The number of women using mobile banking services is scheduled to increase from 32 percent to 50 percent within two years from now, the Vodacom Tanzania PLC has said.

Speaking in Dar es Salaam today, the company's head of Corporate Affairs and Public Relations, Jacqueline Materu, said they want to increase financial inclusion for women.

At the moment only 32 percent of women are included in mobile money services (M-PESA) we want to increase to 50 percent by the year 2020, she said.

She said women play a crucial role in economic development, and the mobile phone company has decided to support them for economic growth of Tanzania.

Up to the moment, Vodacom Tanzania is adding as many as 150,000 M-Pesa customers a month, registering monthly transactions of about $1.2 billion.

More plans are underway to make sure that the company adds more mobile money users to its platform.

It has been announced that the Group has a plan to double the number of customers using the M-Pesa mobile-banking service outside its domestic market in three years.

According to Romeo Kumalo, Chief Operating Officer of Vodacom International, the company wants about 11 million M-Pesa subscribers outside South Africa by this year compared with 6 million now.

Latest statistics from Tanzania Communications Regulatory Authority (TCRA), show that mobile Money services continued to expand in the fourth quarter of 2016 with Vodacom’s M-Pesa maintaining its position as the largest mobile money platform with 42 percent market share up from 41 percent in the third quarter.

The country’s total mobile money customers increased from 17 Million in the third Quarter of 2016 to 18.08 million in the fourth quarter of 2016.

Mobile money industry in East Africa has been growing at a rapid rate where the environment is seen as one of the most conducive for financial inclusion.

Azania Post

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