- The FinScope Tanzania 2023 Survey attributes the rise to the widespread adoption of mobile money services and increased access to formal banking across the country
Dar es Salaam: Seventy-six percent of adults in Tanzania now have access to formal financial services, up from 65 per cent five years ago, according to a new report.
The FinScope Tanzania 2023 Survey attributes the rise to the widespread adoption of mobile money services and increased access to formal banking.
FinScope is a national representative demand-side survey of adults (people aged 16 years or older) living in Tanzania.
The use of mobile money services by Tanzanian adults reached 72 percent in 2023, marking a significant increase of 12 percentage points from the 2017 figure of 60 percent.
The number of adults utilising traditional banking services stands at 22 percent, being an increase of five percentage points from 17 percent in 2017. This growth is attributed mainly to the availability of banking services through mobile phones.
Speaking during the report’s launch in Dar es Salaam yesterday, Finance permanent secretary Natu Mwamba said mobile money operators have played a key role in developing innovations that support and drive financial inclusion.
The FinScope Tanzania 2023 Survey attributes the rise to the widespread adoption of mobile money services and increased access to formal banking.
FinScope is a national representative demand-side survey of adults (people aged 16 years or older) living in Tanzania.
The use of mobile money services by Tanzanian adults reached 72 percent in 2023, marking a significant increase of 12 percentage points from the 2017 figure of 60 percent.
The number of adults utilising traditional banking services stands at 22 percent, being an increase of five percentage points from 17 percent in 2017. This growth is attributed mainly to the availability of banking services through mobile phones.
Speaking during the report’s launch in Dar es Salaam yesterday, Finance permanent secretary Natu Mwamba said mobile money operators have played a key role in developing innovations that support and drive financial inclusion.
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