M-PESA MAINTAINS ITS POSITION AS THE LARGEST MOBILE MONEY SYSTEM IN TANZANIA

M-PESA MAINTAINS ITS POSITION AS THE LARGEST MOBILE MONEY SYSTEM IN TANZANIA

Vodacom’s M-Pesa has maintaining its position as the largest mobile money system in the rapidly growing industry.

Figures shows that, M-Pesa held its leading position with 42 percent shares in the mobile money market as at the end of the fourth quarter last year, up from 41 percent in the third quarter. Its customer grew from 7,034,839 in September to 7,487,735 in December.

According to latest Tanzania Communications Regulatory Authority (TCRA) statistics, mobile money customers increased from 17,406,033 to 18,080,622 as at the end of the fourth quarter in December in the industry whose rapid growth has helped to extend financial inclusion.

The figures show the mobile number customers were steadily increasing from October to December after declining in September.

Tigo Pesa maintained its position as the second largest money system albeit with reduced market share from 36 per cent at the end of third quarter to 34 percent at the end of the fourth quarter.

Its customer base shrunk from 6,246,184 in the end of third quarter to 6,145,813 at the end of fourth quarter. Airtel Money is the third largest money system, unchanged from the third quarter but with increasing market share from 22 percent to 23 percent.

The customers increased from 3,899,992 in September to 4,214,048 in December. The mobile money industry is growing at an astonishing rate where the environment is seen as one of the most conducive for financial inclusion.