Visa eyes Tanzania’s digital payment growth

Dar es Salaam. Tanzania’s journey towards a cashlight economy received a major boost yesterday as global payments firm, Visa, launched its local office in Dar es Salaam, signalling deeper engagement with the country’s digital finance landscape.

The event, dubbed Visa Day, brought together government officials, regulators and industry players to mark the company’s expanded presence.

Visa has appointed Mr Victor Makere as Country Manager for Tanzania, who will also oversee operations in Uganda, Rwanda and Burundi.

Mr Makere said Visa aims to support Tanzania’s transition to secure and efficient digital payments by working more closely with businesses and consumers.

“We’re not just offering services, we want to become part of the economic fabric by supporting sectors such as tourism, education, agriculture and innovation,” he said.

He noted that Visa’s global reach would help Tanzanian businesses connect to international markets, and that the firm’s infrastructure is built on high global standards for cybersecurity and data privacy.

Bank of Tanzania governor Emmanuel Tutuba described the launch as a sign of investor confidence and policy success. “Visa’s presence aligns with reforms and infrastructure investments aimed at expanding digital finance.

As of May 2025, e-money in circulation exceeded Sh2.18 trillion,” he said, citing over 66 million active SIM cards as evidence of strong mobile penetration. Tutuba also highlighted regional integration through the EAC, SADC, and AfCFTA as key advantages for digital service providers.

Visa’s Head of Southern and East Africa, Mr Michael Berner, said SMEs remain a focus, with 84 percent of Tanzanian SMEs already accepting digital payments, though 40 percent still rely on cash.