Tanzania
Population: 63,6 million
biGDP: 67,8 billion
As of 2021, cash is still the most widely used payment method in Tanzania, especially in rural areas where electronic payment infrastructure may not be available. According to a report by the Bank of Tanzania, in 2020, cash withdrawals from ATMs and over-the-counter transactions accounted for about 89% of total transactions in the country. However, it's important to note that the use of mobile money and other electronic payment methods is growing rapidly in Tanzania, especially in urban areas.
Mobile money is a widely used payment method in Tanzania. According to a report by the Bank of Tanzania, as of December 2020, there were over 30 million registered mobile money users in the country, with a total of 22 trillion Tanzanian shillings ($9.4 billion USD) transacted through mobile money services in that year alone.
The three main mobile money service providers in Tanzania are Vodacom's M-Pesa, Airtel Money, and Tigo Pesa. These services allow users to transfer money, pay bills, purchase goods and services, and even save money through their mobile phones.
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