Global corporation Unlimit strengthens its foothold in Tanzania, offering companies worldwide a gateway to the vast mobile money services market worth 80 billion dollars.
Unlimit, a leading digital payments provider, has made a significant stride in its growth journey by launching its services in Tanzania in Q2 2024. This expansion marks a strategic move to tap into the rapidly growing digital payments market in Tanzania, a country that is quickly emerging as a regional digital payments hub.
The integration of M-Pesa, Mixx by Yas, and Airtel Money into Unlimit's Tanzanian offering is a key highlight of this expansion. These mobile money services collectively hold nearly 90% of the market share in Tanzania's mobile money services, providing Unlimit with access to a vast new customer base of over 60 million M-Pesa users, 20 million Mixx by Yas users, and 41.5 million Airtel Money users.
Irene Skrynova, Chief Customer Officer at Unlimit, stated that the expansion ensures that both banked and unbanked users are fully supported. The integration aims to simplify transactions, minimize customer churn, and create a smoother and more inclusive payment experience.
The expansion also includes bank transfers through all regional banks in Tanzania and the integration of local and international cards such as Visa, Mastercard, and Verve in Nigeria. This comprehensive suite of national, regional, and global payment methods will provide Unlimit's Tanzanian business offering with the necessary tools to enable international brands to enter and scale in Tanzania, while empowering Tanzanian businesses to connect with their target audiences effortlessly.
The digital payments market in Tanzania is experiencing rapid growth and strong adoption, with mobile money services like M-Pesa, Airtel Money, and Mixx by Yas playing a dominant role. Mobile money platforms have become central to Tanzania’s digital transformation, driven by widespread mobile penetration (over 66 million active SIM cards) and supported by government policies aiming at reducing cash use and formalizing the economy.
Key market trends and growth indicators include record-breaking digital transaction volumes as Tanzania transitions toward a cash-light economy, supported by newly introduced tax incentives lowering VAT rates for digital payments to 16%, aiming to boost online B2C purchases and usage of electronic payments.
The launch of Visa’s local office in Dar es Salaam in 2025 signals growing international investor confidence and provides infrastructure support to improve interoperability between banks, mobile money operators, and businesses, further enabling secure and accessible digital payments.
Despite progress, challenges persist such as digital payment surcharges and competition from "copycat" platforms that undermine trust. The government and partners stress inclusion, regulatory oversight, and technologies like AI to safeguard digital systems. Regional integration efforts with bodies like the EAC and IGAD aim to enhance cross-border digital payment interoperability, benefiting mobile money operators and increasing market reach beyond Tanzania.
SMEs are adopting digital payments rapidly, with 84% already accepting digital options though significant cash reliance remains among 40% of firms, signaling growth potential.
Unlimit's expansion in Tanzania underscores its commitment to supporting merchants with a wide range of payment options across Africa. The company has received a Bank of Tanzania licence and has opened a regional office in Tanzania. This strategic move addresses the unique financial landscape of Tanzania, where a significant portion of the population remains unbanked.
In the past year, Unlimit recorded a 76% increase in total digital transaction volumes between 2023 and 2024. The expansion also includes mobile money solutions like M-Pesa and Airtel Money in East Africa. Tanzania's mobile money market annual transaction value has exceeded 80 billion USD, making it an attractive market for digital payments providers like Unlimit.
[1] Digital Transformation in Tanzania: A Deep Dive into the Mobile Money Ecosystem, World Bank Group, 2023. [2] Tanzania's Digital Economy: Opportunities and Challenges, McKinsey & Company, 2024. [3] Visa Expands Presence in Tanzania with Local Office Launch, Visa Newsroom, 2025. [4] East African Community and Intergovernmental Authority on Development: A Comparative Analysis of Digital Payment Regulations, African Development Bank, 2024.
- With the integration of major mobile money services like M-Pesa, Mixx by Yas, and Airtel Money into Unlimit's Tanzanian offering, the company hopes to capitalize on technology-driven digital payments, providing a smoother and more inclusive payment experience for a vast new customer base.
- As Unlimit ventures into Tanzania's rapidly growing finance sector, the company aims to leverage the country's advanced technology infrastructure, fostering international partnerships and equipping Tanzanian businesses with a comprehensive suite of national, regional, and global payment methods.
