Browsing: Fintech in Tanzania

Tanzania’s leading technology and communication company, Vodacom Tanzania, has partnered with the  government, to fortify financial payment systems to 127 local governments offices.

The partnership was witnessed on November 3rd by the Ministry of Regional Administration and Local Government (TAMISEMI) and Vodacom Tanzania Plc, with a clear intention of strengthening payments processes to benefit over 14 million Vodacom customers, when making their duly payments at councils and municipalities across the country.

Vodacom Tanzania, which is listed at the Dar es Salaam Stock Exchange (DSE), has taken a bold move within telecom business parameters, particularly with the present fintech take up and normalization in Tanzania, but also—Vodacom numbers catapulted their chances for the deal, as they are now—having 32.4 per cent of market share and 38.6 per cent of mobile money share, while their service revenue as indicated in its preliminary report (2019) grew to over $442 million, which is a …