A 2024 Financial Sector Deepening Trust report shows that 68 percent of SMEs in Tanzania still rely on manual record-keeping and only 27 percent use formal digital payment systems. PHOTO | FILE
Dar es Salaam. Tanzania has made remarkable progress in its journey toward a cashless economy, but, experts note that small and medium enterprises (SMEs), which account for over 90 percent of the country’s businesses, are struggling to adapt.
Tanzania saw mobile money transactions surpassing Sh144 trillion in 2024, according to the Bank of Tanzania (BoT). The shift that has reshaped how people and businesses transact.
