The number of mobile money transactions rose from 378.3 million In November 2022 to 410.7 million In December 2022 with its value similarly rising to 13.88trn/- from 12.86trn/- recorded in November according to the latest Tanzania Communication Regulatory Authority (TRCA) report.

According to the report, Vodacom still commands the larger market share accounting for 39% of mobile money accounts in the market followed by Tigo, Airtel, Halotel, and TTCL commanding 27%, 22%, 9%, and 3% of the market share respectively.

“The number of mobile money accounts for the past 12 months has been growing at the rate of 1.4% while the number of transactions has been growing at the rate of 2.8% and the value of transactions has also been growing at the rate of 3%” the report shows.

The report shows that more transactions were done in December than any other month of the quarter due to the fact that, December is a month with many activities due to end-of-the-year festivals.

It shows that the subscription has increased from 39.6 million accounts to 40.9 million accounts while the the number of transactions has been increasing for the past three years from 3.4 billion in 2020 to 4.2 billion in 2022.