2620808675_5bb927b730_b

Tanzanians can now send each other mobile money regardless of network. This comes after Vodacom’s M-Pesa joins an interoperable network set up by Tigo, Zantel and Airtel, creating Africa’s first universally interoperable mobile money network.

This means that more than 16 million Tanzanian mobile money users on the four largest networks will be able to conduct transactions with one another regardless of which mobile operator they use.

The network started out in June 2014, when Tigo, Airtel and Zantel announced an agreement that would allow their customers to send money between their mobile money accounts, leading to an increase of 3.5 times the value of total offline transactions. After announcing it would join the interoperable network one year ago, Vodacom has now implemented the deal.

The country’s 16 million mobile financial users transact the equivalent of more than 50% of Tanzania’s GDP each month, making the country East Africa’s biggest mobile money user by transaction volume, overtaking Kenya.

“We believe interoperability is crucial to the success of mobile money and the wider goal of increasing financial inclusion”, Tigo Tanzania Head of Mobile Financial Services, Ruan Swanepoel said.

“It is also a fundamental building block towards constructing a digital economy, enabling merchants and other startups to participate in the financial services ecosystem. Our aim going forward is to reach similar agreements with networks in other markets.”

Photo Credit: whiteafrican via Compfight cc

Read this next
More From TC

TC Townhall: The State of Healthtech in Nigeria will convene some of the leading healthcare innovators, investors and policymakers to discuss the challenges and opportunities in the sector. As well as put together proposals that policymakers can implement to support the rapid growth of the sector.

Features, Gadgets, Technology
15th December 2018

As far as I can recall, I’ve owned seven phones in the last nine years, four of which forcefully ended up with people who needed them more than I did. Out of the remaining three, I recall handing one down to a younger sibling and disposing another in a waste bag during spring cleaning. I haven’t given much thought to where my current phone will end up when it no longer serves its purpose. Until now.


TechCabal is a Big Cabal Media brand



Copyright © 2018
All rights reserved

Privacy & Terms