An overview of Consumer Financial Apps in Tanzania

ClickPesa has made an overview of all financial apps in Tanzania currently available for consumers and mapped out the popularity of each app by looking to the number of downloads (only the Google Play Store with Android apps provides this information).

With a rapidly developing financial industry in Tanzania, the popularity of financial apps in Tanzania for consumers is on the rise. Many banks and MNOs (with their mobile wallets) have launched, apart from having physical branches or agents, their own mobile app in the past few years. Also a number of Fintech players came into the field and launched financial apps in Tanzania.

Functionality
Many of the available apps allow consumers to check their bank account or mobile money wallet in real time, do transfers and make payments. Some apps enables consumers to invest, save and check (live) forex exchange rates. All apps of the MNOs enable consumers to top-up their phone credit and pay bills.

Language
Over 70% of the apps is in English, 30% of the apps are in Swahili and English.

Pre Account Setup
A couple of the apps allow consumers to setup an account within the app itself. The rest of the app requires consumers to have an account pre setup through a branch or agent.

Operations System
All apps are suitable for Android, only a handful of apps can be installed on iOS.

mVisa / Masterpass
12 of the apps work with a QR code scanner enabling to pay seamless with mVisa or Masterpass in a store. The number of apps having this feature within their app seems to grow.

Overview
Find below an overview of all financial apps in Tanzania for consumers currently (May 2019) available:

*This research is done by ClickPesa in April 2019, in case any of the financial apps is missing, please contact us.