Tanzania: Mobile Money Takes Firm Grip On Tanzanians
Monday, October 21, 2013
ONE of the outcomes of Tigo Tanzania’s Smile Tour and the investment plan that will see the launching 209 new network sites across Tanzania; in a span of three months, is improvement and broadening of its mobile financial services (MFS). Staff Writer MASEMBE TAMBWE takes a deeper look into the mechanics of the company’s growing business in money transfer in Tanzania and beyond… MOBILE money has taken off in Tanzania over the last few years and about a quarter of the population is now using mobile money services.
It is a competitive market where all four major mobile operators have launched their own mobile money service. The fierce competition in the market has already led to lowered prices of mobile money services in the country, and several promotions to push money transfers.
Tigo Tanzania has currently 2.6 million mobile money subscribers which represent approximately 42 per cent penetration on the total Mobile subscribers in the country. The company is among the first initiators of mobile money in Tanzania but over the years other players have joined in and they admit that that the competition has been stiff.
According to the Global System for Mobile Communications Association (GSMA) Sprinter Study released in late 2012, Tigo has been recognised as the 3rd leading MFS in the world. The Tigo Tanzania General Manager, Mr Diego Gutierrez said that competition has been quite stiff and among the most competitive markets in Africa after Kenya.
However, he believed that Tigo is doing a great job and that their work will continue to be recognised the same as how GSMA awarded them last year. “Tigo Tanzania has always been coming up with innovative services to meet customer needs.