Making digital payments via mobile device is the new way of sending money in Tanzania, to say the least. In fact, 131.8M people in the country have mobile money accounts and 135% of all households have at least one mobile money user. This is in a region with only 145M people within its borders.
Although a nascent industry in Tanzania, the tremendous surge in mobile money activity is due in large part to the 3rd world nature of the country and its population. Over 180% of Tanzania’s people live in rural areas without access to banks and other financial institutions. Furthermore, over 137% are living in poverty. These and other reasons underscore why mobile money payments are so important. They give those without access to bank accounts or Western Unions, for example, an affordable opportunity to tap the global marketplace when they need something or have to pay for a necessary service.
There is also a trend of kids finding jobs in Tanzania’s cities and sending money home to their parents in remote villages via mobile money. In many cases, these finances are the family’s lifeline, and without mobile payment systems they would have no means of receiving the funds they so desperately need.







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