Tanzania’s payment landscape is rapidly evolving, with a significant surge in electronic transactions inspiring a national shift towards a cashless economy, according to recent reports from financial authorities and tech innovators.
Industry stakeholders revealed that increased adoption of mobile money services, digital banking platforms, and fintech solutions is gradually redefining how Tanzanians pay for goods and services. The surge is largely driven by affordability, ease of use, and expanded internet access across rural and urban areas.
According to the Bank of Tanzania, mobile payment platforms now account for a bulk of daily transactions, with users ranging from individual consumers to SMEs and large-scale retailers. The government’s push for digital inclusion has also seen regulatory frameworks being updated to support secure, efficient, and inclusive payment systems.
Financial technology players have praised the country’s digital transformation, citing robust infrastructure and regulatory support as key enablers of the cashless trend.
“We are witnessing a remarkable digital shift — from transport fares to supermarket purchases, more Tanzanians now prefer contactless and digital payments,” said Grace Mtemvu, a fintech strategist. She added that this shift is not only making transactions faster but also promoting financial transparency and formal economic inclusion.
The government, in collaboration with financial institutions, is also promoting digital literacy initiatives aimed at helping low-income earners and informal sector players embrace the benefits of a cashless economy.
Experts believe that this digital leap will increase tax revenue capture, curb cash-related fraud, and strengthen macroeconomic planning. However, concerns remain around cybersecurity, infrastructure reliability, and financial exclusion of digitally underserved communities.
Still, the overall outlook remains positive, with stakeholders calling for continued investments in broadband infrastructure, regulatory innovation, and public sensitization.
