Tanzania: 22% of the population owns a bank account, says study
This compares with 19 per cent recorded in 2009.Twenty-two per cent of Tanzanians have a bank account, up from 19 per cent in 2014, according to a new report from Twaweza, an NGO based in Dar-es-Salam.
The findings, which are based on data collected from 1,800 respondents across mainland Tanzania, show that this improvement was mainly driven by the development of mobile banking.
The share of the adult population using these services has expanded from 61 per cent in 2014 to 80 per cent in 2016.
This means that the government's target of achieving 50 per cent financial inclusion by 2016 has been largely exceeded.
Another survey from
the Economist Intelligence Unit's Global Microscope 2016
financial services is high in Tanzania.
The survey ranked Tanzania as the 9th out of 55 countries in the world, using 12 indicators in determining progress and challenges confronting financial inclusion globally.
The report recognised Tanzania's continuous effort in creating an enabling environment for financial inclusion.