Tanzania's participation in regional payment systems has shown dynamic growth, with EAPS transactions reaching TZS 614.2 billion in 2024, a 56% increase from 2023. Meanwhile, SADC RTGS transactions nearly doubled regionally, but Tanzania's share remains 0.37% in volume and 0.16% in value. Kenyan Shilling transactions surged by 310.21% in 2023, while Ugandan Shilling transactions grew in volume (22%) but declined in value (24.58%) in 2024. These trends highlight increasing cross-border trade and digital payment adoption, though Tanzania's engagement in regional platforms remains relatively low.
Tanzania's participation in regional payment systems has seen fluctuating trends, reflecting shifts in trade dynamics, economic integration, and digital adoption.
EAPS Transactions in Tanzania Shillings (TZS)
The volume of transactions peaked in 2022 at 13,730 before dropping significantly to 5,571 in 2023 and stabilizing at 5,893 in 2024.
Despite volume fluctuations, transaction value surged from TZS 167.1 billion in 2020 to TZS 614.2 billion in 2024, with a 56% increase in 2024 alone.
EAPS Transactions in Kenya Shillings (KES)
The volume of transactions fluctuated, dropping by 17% in 2022, rising in 2023, but falling again in 2024 to 4,569 transactions.
However, the transaction value grew steadily, reaching TZS 49.4 billion in 2024, driven by a 310.21% surge in 2023 and a 28% increase in 2024.
EAPS Transactions in Uganda Shillings (UGX)
The transaction volume increased by 22% in 2024, reaching 715 transactions.
However, the value dropped by 24.58% in 2024, indicating a possible decrease in high-value transactions.
SADC RTGS Transactions
Regional transactions nearly doubled from 493,805 in 2023 to 993,639 in 2024, showcasing growing cross-border trade and remittances.
Tanzania's contribution to total SADC RTGS transactions remains small, at 0.37% in volume and 0.16% in value in 2024.
Tanzania's RTGS transaction value grew by 36.57% in 2024, reaching ZAR 4.15 billion, following an exceptional 287% increase in 2023.
Tanzania's participation in regional payment systems has shown fluctuating trends over the years, reflecting changes in trade activity, economic integration, and the adoption of digital transactions.
Table 1: EAPS Transactions in Tanzania Shillings (TZS)
Year
Volume of Transactions
% Change in Volume
Value (TZS Million)
% Change in Value
2020
3,607
17.91%
167,108
49.07%
2021
9,884
174.02%
126,238
(24.46%)
2022
13,730
38.91%
191,778
51.92%
2023
5,571
(59.42%)
394,427
105.67%
2024
5,893
6%
614,247
56%
The volume of transactions peaked in 2022 at 13,730 before dropping to 5,571 in 2023 and slightly recovering to 5,893 in 2024.
The value of transactions has grown significantly, reaching TZS 614.2 billion in 2024, a 56% increase from 2023.
Table 2: EAPS Transactions in Kenya Shillings (KES)
Year
Volume of Transactions
% Change in Volume
Value (TZS Million)
% Change in Value
2020
3,149
11.23%
5,084
5.47%
2021
4,554
44.62%
7,433
46.21%
2022
3,745
(17.76%)
8,982
20.84%
2023
5,493
46.68%
38,643
310.21%
2024
4,569
(17%)
49,418
28%
The volume of transactions fluctuated, dropping by 17% in 2022, recovering in 2023, and falling again in 2024 to 4,569 transactions.
The value of transactions surged by 310.21% in 2023 and increased by 28% in 2024, reaching TZS 49.4 billion.
Table 3: EAPS Transactions in Uganda Shillings (UGX)
Year
Volume of Transactions
% Change in Volume
Value (UGX Million)
% Change in Value
2020
395
(1%)
17,539
26.93%
2021
483
22.28%
29,087
65.84%
2022
434
(10.14%)
32,441
11.53%
2023
584
34.56%
53,609
65.25%
2024
715
22%
40,434
(24.58%)
The volume of transactions grew by 22% in 2024, reaching 715 transactions.
However, the value of transactions declined by 24.58% in 2024, indicating a drop in high-value transactions.
Table 4: SADC RTGS Transactions
Year
Regional Volume
Tanzania Volume
% Contribution (Volume)
Regional Value (ZAR Billion)
Tanzania Value (ZAR Billion)
% Contribution (Value)
2020
345,503
3,917
1.13%
1,260
3.01
0.24%
2021
370,341
3,935
1.06%
1,321
0.85
0.06%
2022
435,569
3,818
0.88%
1,702
0.79
0.05%
2023
493,805
3,429
0.69%
2,229
3.04
0.14%
2024
993,639
3,646
0.37%
2,626
4.15
0.16%
Regional transactions nearly doubled from 493,805 in 2023 to 993,639 in 2024, highlighting increased cross-border trade and remittances.
Tanzania’s share of total SADC RTGS transactions remains low, at 0.37% in volume and 0.16% in value in 2024.
Tanzania's RTGS transaction value grew by 36.57% in 2024, reaching ZAR 4.15 billion, following an exceptional 287% increase in 2023.
Key Insights
Digital payments continue to dominate regional transactions, with strong growth in electronic transfers.
Kenya Shilling transactions have seen the highest volatility, with a sharp rise in value in 2023.
SADC RTGS transactions have surged, but Tanzania’s contribution remains minimal.
Uganda Shilling transactions increased in volume but declined in value, suggesting a shift toward smaller transactions.
