Mobile money has become part of the East African Community and Africa in general as it keeps growing and Expanding as time goes by. Many countries are embracing this platform due to its convenience.
With this, M-pesa Mobile Services seem to not only rule in Kenya but also in Tanzania where it has taken the first position according to the Tanzania Communications Regulatory Authority (TCRA). The report stated that Vodacom’s Mobile platform, M-pesa, had continually maintained the top position in the fourth quarter of 2016, with a 1 percent growth currently standing at 42 percent market share from 41 percent in the third quarter.
The report further disclosed that the total number of people using M-pesa in Tanzania increased to 7.5 million by December 2016 from 7.0 million users in September 2016.Tigo Pesa took the second position with 34 percent market share, followed by Airtel money at 24 percent and Eazy Pesa took the fourth position with only percent market share.
It was noted that the total number of mobile money users in Tanzania went up by 1.08 new users, from 17 Million in the third Quarter of 2016 to 18.08 million in the fourth quarter of 2016.
Last year, M-Pesa reported a 27.1 percent growth in its active users across Africa, Asia and Europe in the year ended March 2016, hitting a total subscriber base of 25 million.
British telco Vodafone, which owns 40 per cent of Safaricom, has been launching the money transfer service in various choice markets around the world. The mobile phone-based service has a presence in a number of Countries including Kenya, Tanzania, South Africa, Democratic Republic of Congo, India, Mozambique, Egypt, Lesotho, Ghana, Albania and Romania.
M-Pesa continues to enhance the lives and livelihoods of people without bank accounts, giving them access to essential financial services through their mobile phones.
Related: Brand in Focus: The Untold Story of M-PESA