IMPACT BUSINESS BREAKFAST; THEME - THE ROLE OF DIGITAL SOLUTIONS IN IMPROVING FINANCIAL INCLUSION

Today about six in 10 adults (56%) in Tanzania are financially included, almost all through mobile money accounts (55%). Tanzania has a predominantly rural population, which makes access to financial services a challenge and digital solutions ideal. 

Sixty-six percent of the population resides in rural areas, and FII data shows that less than one-third (29%) of the rural population have active accounts (used in the last 90 days), whereas urbanites are twice as likely to have active accounts (61%). Approximately 77% of Tanzania’s adults live on less than $2.50 per day, with three-quarters of Tanzanians employed in the agriculture sector, according to World Bank data.

There is an increasing need to implement strategic alliances between financial institutions, Fintechs, Telcos and government to facilitate a more deliberate collaboration that will enhance financial inclusion.

In the next Impact Business Breakfast, we will bring together key players within the financial sector; Banks, Mobile Network Operators, Financial services development organizations, Government and FinTech start-ups to discuss on best case partnership opportunities and policies that will allow multi-stakeholder collaborations that will facilitate a more inclusive financial services and create linkages /collaboration structures between key players in ensuring that unbanked adults in Tanzania are able to access financial services, contribute to national economy growth and increase job creation.

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