Key Issues
| Zone | Quarter Ending | Number of Agents | Number of Transactions (Deposits) | Value of Deposits (Billions TZS) | Number of Transactions (Withdrawals) | Value of Withdrawals (Billions TZS) |
| Central | Mar-23 | 10,866 | 2,657,926 | 1,674.40 | 1,658,353 | 591 |
| Dec-23 | 12,510 | 3,010,752 | 2,659.80 | 1,866,038 | 882.2 | |
| Mar-24 | 13,752 | 3,065,504 | 2,536.30 | 1,864,879 | 819.4 | |
| Dar es Salaam | Mar-23 | 26,880 | 5,103,756 | 3,764.30 | 3,074,402 | 1,155.60 |
| Dec-23 | 35,764 | 5,881,859 | 6,287.00 | 3,778,347 | 1,895.10 | |
| Mar-24 | 38,224 | 6,190,251 | 6,753.50 | 3,707,083 | 1,886.70 | |
| Lake | Mar-23 | 14,232 | 4,232,120 | 3,086.10 | 1,909,180 | 809.4 |
| Dec-23 | 18,984 | 4,934,739 | 5,092.00 | 2,603,247 | 1,334.70 | |
| Mar-24 | 20,969 | 5,240,488 | 5,258.00 | 2,544,557 | 1,311.60 | |
| Northern | Mar-23 | 11,998 | 3,093,312 | 1,946.20 | 1,616,826 | 552 |
| Dec-23 | 14,868 | 3,058,425 | 2,569.00 | 1,922,669 | 837.5 | |
| Mar-24 | 16,093 | 3,324,956 | 2,515.10 | 1,955,936 | 843.7 | |
| South Eastern | Mar-23 | 6,231 | 1,595,710 | 911.9 | 1,208,406 | 401.6 |
| Dec-23 | 7,095 | 1,628,894 | 1,179.80 | 1,438,830 | 560.2 | |
| Mar-24 | 7,780 | 1,609,979 | 1,034.00 | 1,214,246 | 419 | |
| Southern Highlands | Mar-23 | 10,088 | 3,139,826 | 1,957.70 | 1,639,228 | 711.2 |
| Dec-23 | 12,452 | 3,328,538 | 2,716.20 | 1,908,639 | 1,031.20 | |
| Mar-24 | 13,477 | 3,428,303 | 2,515.40 | 1,884,260 | 932.5 | |
| Total | Mar-23 | 80,295 | 19,822,650 | 13,340.40 | 11,106,395 | 4,220.90 |
| Dec-23 | 101,673 | 21,843,207 | 20,503.80 | 13,517,770 | 6,540.90 | |
| Mar-24 | 110,295 | 22,859,481 | 20,612.30 | 13,170,961 | 6,212.90 |
Hence
The agent banking transactions in Tanzania reflects a positive trajectory in the country’s economic development. Increased access to financial services, rising economic activities, regional growth, and the integration of technology are key indicators of progress. These trends not only signify economic growth but also the effectiveness of policies aimed at financial inclusion and economic empowerment.
The significant increase in the number of bank agents (37.4% from March 2023 to March 2024) indicates improved access to banking services across the country. This expansion supports the broader financial inclusion agenda, enabling more individuals, especially in rural and underserved areas, to participate in the formal financial system.
The growth in both the volume and value of transactions (15.3% and 54.5% for deposits, 18.6% and 47.2% for withdrawals) reflects heightened economic activity. More transactions suggest that more people are engaging in financial transactions, whether for personal savings, business activities, or consumption, indicating a vibrant and growing economy.
The substantial increase in the value of deposits and withdrawals signifies growing trust in the banking system. As people increasingly use banking agents for their financial transactions, it shows that they have confidence in the security and reliability of these services. This trust is crucial for the stability and growth of the financial sector.
The data breakdown by regions (Central, Dar es Salaam, Lake, Northern, South Eastern, and Southern Highlands) shows that economic activity and access to banking services are expanding across different parts of the country. Particularly notable is the significant growth in regions like Dar es Salaam and the Lake zone, suggesting regional economic development and reduced economic disparity.
The increase in agent banking highlights the role of technology in driving economic development. By leveraging mobile and digital technologies, banking agents can reach more people, facilitating easier and more efficient financial transactions. This technological integration is a positive indicator of modernizing the economy and improving efficiency.
Greater access to banking services empowers individuals and businesses by providing them with the means to save, invest, and manage their finances more effectively. This empowerment can lead to increased entrepreneurial activities, higher savings rates, and more investments, all contributing to overall economic growth.
The efforts to promote agent banking reflect effective policy measures by the government and financial institutions to enhance financial inclusion and economic participation. The positive trends in agent banking transactions suggest that these policies are successfully fostering a more inclusive and dynamic economy.