Vodacom Tanzania to expand mobile money service
Vodacom Tanzania is investing more in its mobile money transfer services due to an increase in the number of people using the financial solution.Vodacom Tanzania is investing more in its mobile money transfer services due to an increase in the number of people using the financial solution.
Managing Director of the company Rene Meza explained $100 million (€77 million) of funding will be provided for the initiative, the Citizen reports.
This money will also be used to invest in Vodacom's network operations and to build on its existing mobile data business.
"The company's growth is based on the quickly expanding subscriber list, mobile financial services arena and voice services and these are appropriate for an emerging economy like Tanzania," Mr Meza stated.
He added that mobile commerce is becoming increasingly prominent in Tanzania and Vodacom has seen its customer base expand by as many as 20,000 new subscribers a day for the past 15 months.
At the end of last year, NMB announced the launch of a new free mobile payment system that will enable Tanzanians to pay various bills and taxes via their mobile phone.