Challenges Facing Mobile Money Morket Penetration And Expansion In Singida District, Singida Region

ABSTRACT

Although Tanzania has companies providing mobile money services, penetration, expansion and usage is still low. This study examined the challenges facing mobile money transfer services and and their expansion in Singida, Tanzania. The study adopted explanatory cross-sectional survey where questionnaires were used to collect quantitative data from users of mobile money services including agents and providers‟ representatives from for Aitel Money, Tigo-Pesa and Vodacom M-Pesa in Singida district. The study finds that there are significant challenges affecting market penetration and expansion and regular use for mobile money. Financial problems for agents, unavailability of network coverage and regulatory barriers to mobile money payment systems industry are fundamental factors leading to low penetration level in Singida and in Tanzania. Reduction of running cost, availability and stability of network, training and information to users and amendments of mobile money policies are necessary measures to raise usage, penetration and expansion