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While the vast plains of the Serengeti make Tanzania unique, its payments landscape is more in keeping with its East African neighbors.

Mobile money and peer-to-peer payments like M-Pesa are a big deal in Tanzania, with more than 40% of its adult population using these payment methods. Common reasons for mobile money's popularity include its ability to connect rural Tanzanians with financial services and enables unbanked citizens to send and receive money with ease.

Cash remains popular outside of mobile money, but card penetration is slowly increasing; in 2020, NMB Bank and Mastercard set targets of reaching 300,000 Tanzanians to improve financial inclusion and reduce cash reliance in the region.



Tanzanian shilling