Tanzania: Digital Financial Inclusion to Boost Industrial Economy
Global, Africa, Tanzania
Digital financial inclusion for country's farmers has been cited as catalyst to boost agricultural production which could in turn facilitate envisaged industrialisation in the country.This emerged during the signing of Memorandum of Understanding (MoU) between the Halotel Tanzania and Mercy Corps AgriFin Accelerate to cement partnership to enable farmers in rural areas use mobile transaction to boost production.
The partnership would see the two companies create awareness and enable the farmers benefit from loans and saving through digital channels. The move was termed as a great endeavor since the bank services largely available in urban areas, thus locking out the farmers in the villages.
Tanzania is currently experiencing transition towards industrialization and has a robust digital financial services (DFS) market with a competitive market structure and major advances in interoperability.
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