As of March 2025, Tanzania recorded 65.7 million mobile money accounts, showing a significant increase from 29.8 million in 2020 — a growth of 120% over five years. In the first quarter of 2025 alone, accounts grew from 64.3 million in January to 65.7 million in March, adding 1.3 million new users. The market is led by M-Pesa with over 26 million accounts, followed by Mixx by Yas (20.2 million) and Airtel Money (12.1 million). Transaction volumes also surged, reaching 10.3 billion in 2024, up from 3.8 billion in 2020, reflecting a 172% increase. These trends highlight the critical role mobile money plays in Tanzania’s growing digital and inclusive economy.

1. Mobile Money Accounts — January to March 2025

What This Tells Us:

• Growth Trend:
  From January to March 2025, mobile money accounts increased by 1,335,129 (from 64.34M to 65.67M), showing continued growth in usage and access.
• Dominant Players:
  • M-Pesa (Vodacom) leads with over 26 million accounts (40% of total).
  • Mixx by Yas (formerly Tigo Pesa) holds steady at around 20.2 million accounts (31%).
  • Airtel Money is also strong, growing from 11.8M to 12.1M in Q1.
• Smallest Player:
  • Azam Pesa has fewer than 40,000 accounts — under 0.1% market share — indicating it is still in early stages or niche focused.
• Stability: T-Pesa (TTCL) maintained the same number of accounts across all three months (1.5 million), suggesting either stagnant growth or a stable, focused user base.

2. Mobile Money Subscriptions and Transactions (2020–2024)

What This Tells Us:

• Explosive 5-Year Growth:
  • Mobile money accounts grew by 111%, from 29.8M (2020) to 63.2M (2024).
  • Transactions more than doubled (172% increase), from 3.77B in 2020 to 10.27B in 2024.
• Year-by-Year Trends:
  • The biggest account growth occurred between 2022 and 2023, with an increase of nearly 13.4 million accounts — coinciding with the rollout of new digital services and network expansions.
  • Transactions followed a similar trend, especially between 2021 and 2024, where usage jumped significantly — suggesting increased trust and reliance on mobile money for daily transactions.
• Digital Financial Inclusion: These figures reflect Tanzania's success in expanding access to digital financial services, especially in rural and underserved areas. It highlights the role of mobile money in boosting economic participation, especially among the unbanked.

Key Takeaways

1. Mobile Money is Strong and Still Growing in 2025

• By March 2025, Tanzania had over 65.6 million mobile money accounts, up from 64.3 million in January — a growth of 1.3 million new accounts in just 3 months.
• This shows continued trust and adoption of mobile money platforms, especially for daily financial needs like sending, receiving, saving, and paying bills.

2. M-Pesa is the Market Leader, But Competition is Healthy

• M-Pesa (Vodacom) leads the market with over 26 million users, about 40% of all mobile money accounts.
• Mixx by Yas (formerly Tigo Pesa) follows with 20.2 million, and Airtel Money with 12.1 million.
• This indicates strong competition among providers, which is good for innovation, pricing, and service quality.

3. Massive 5-Year Growth in Financial Inclusion (2020–2024)

• Mobile money accounts grew by 111%: from 29.8 million in 2020 to 63.2 million in 2024.
• Mobile money transactions grew by 172%: from 3.77 billion in 2020 to 10.27 billion in 2024.
• This shows that mobile money has become a vital part of the economy, especially in reaching the unbanked population.

4. Mobile Money is Driving Tanzania’s Digital Economy

• The data proves that mobile money is no longer just a tool for sending money — it’s a foundation for digital commerce, savings, credit, and everyday transactions.
• As more people sign up and use mobile money, it helps expand financial access, improve service delivery, and boost economic inclusion, especially in rural areas.