Dar es Salaam. Financial Sector Deepening Tanzania (FSDT) and the Association of Digital Finance Practitioners in Tanzania (ADFP) hosted a panel discussion on the topic of bridging the mobile phone divide.
The discussion, which drew insights from the FinScope Tanzania 2023 report, focused on the role of mobile phones in expanding access to financial services and driving economic transformation.
The discussion, which drew insights from the FinScope Tanzania 2023 report, emphasized the need for creating an enabling environment to further enhance access to and utilization of mobile-based financial services.
Participants in the panel agreed that mobile phones have emerged as a fundamental enabler for financial inclusion in Tanzania, providing a crucial platform for individuals to access essential financial products and services.
They emphasized the importance of affordable internet and data bundles, improvements in credit scoring tools, the adoption of universal IDs, and adjustments to collateral regulations to further facilitate access to credit and financial services through mobile phones.
The panel also highlighted the growing role of mobile phones in enabling Tanzanians to acquire additional personal assets, such as furniture and home appliances, through improved access to digital financial services like Buy Now Pay Later (BNPL) and installment savings solutions.
These innovations are empowering individuals to manage their finances more effectively and contribute to their overall well-being.
FSDT and ADFP expressed their commitment to engaging with other key stakeholders in the market to foster further discussions on financial inclusion in Tanzania. They emphasized the importance of collective action to address the challenges and harness the potential of mobile phones to bridge the financial inclusion gap.
