Tanzanian telcos expand m-money services
Competition among Tanzania’s network operators has encouraged them to improve and extend the capabilities of their m-money and m-payment services in recent years.
In common with many other markets in the region, the poor delivery of conventional bank services has spurred the use of the mobile banking platform.
This has also improved revenue growth for the MNOs. Recently, Airtel Tanzania partnered with I&M Bank to provide a mobile wallet overdraft service, enabling subscribers to make payments even if they have insufficient funds in their digital wallets. The lack of funds had previously been a major brake on the use of m-payment services.
Tigo Pesa some years ago received the coveted GSMA Mobile Money Certification, a testimony to the resilience of the company’s systems.
For its part, Halotel Tanzania has launched its HaloPesa m-banking service. The company aims to sign up an additional three million subscribers by 2023, bringing its subscriber base to at least ten million. The company’s focus will remain in rural areas, where a large proportion of the population lives but where coverage by its competitors is poor, and also where conventional banking services are weakest.
- Tigo completes merger with Zantel, sells its Tanzanian business to Axian;
- Airtel Tanzania partners with I&M Bank to provide a mobile wallet overdraft service, sells its portfolio of 1,400 towers;
- New MTR is agreed to 2022;
- Halotel aiming for more than ten million mobile subscribers by 2023;
- Tanzania joins the One Network Area initiative;
- World Bank approves $150 million loan to develop the Digital Tanzania Project;
- Tigo Pesa receives the GSMA Mobile Money Certification;
- Halotel Tanzania launches HaloPesa m-banking service;
- TTC extends LTE-A service, launches investment program for its FttP project;
- Government allocates TZS17.5 billion to improve rural telecom infrastructure;
- Report update includes regulator’s market data to June 2021, operator data to Q2 2021, Telecom Maturity Index charts and analyses, assessment of the global impact of Covid-19 on the telecoms sector, recent market developments.
Companies mentioned in this report
Tanzania Telecommunications Corporation (TTC); Zanzibar Telecommunications Corporation (Zantel); Vodacom Tanzania; Bharti Airtel (Zain); Millicom (Tigo); Benson Informatics Limited (BOL); Sasatel (Dovetel); Africa Online; Raha.com; Tele2; Alink; SatCom Networks; SimbaNet; Afsat; Cats-Net