Digital banking transacts 199 billion/- in 2021


In its annual report on banking supervision for 2021, the BoT said the number of digital banking transactions reached 304,698,829 last year, compared to 233,182,627 recorded in 2020, which translated into a growth of 30.7%.

“The growth of digital banking services was partly due to the Bank’s policy measures to encourage the use of digital financial services such as mobile banking, point of sale and internet banking,” the report said. the BoT.

Internet banking accounted for the largest value, amounting to 100,065.3 billion/- last year, compared to 64,866.9 billion/- in 2020, through 8,370,396 transactions last year out of 6 128,134 transactions recorded during the previous year.

Point of sale (PoS) processed the second largest value, amounting to 57,676.6 billion/- last year, compared to 35,109.8 billion/- processed in 2020, compared to 146,153,917 transactions in 2021 , compared to 102,434,642 transactions recorded in 2020.

The number of outlets in Tanzania reached 58,025 last year from 47,576 recorded in 2020.

Mobile banking (SMS) processed 24,973.3 billion/- of 15,227.4 billion/- respectively recorded of 71,454,334 transactions in 2021 against 59,234,494 transactions in 2020.

The report shows that the transaction value through ATMs amounted to 17,234.9 billion/- from 11,237.3 billion/- respectively up to 78,720,182 transactions last year from 65,385,357 transactions in 2020.

However, the number of ATMs fell during the period to 2,048 last year from 2,058 recorded the previous year.

Banking services are offered through various distribution channels, including branches, banking agents and digital banking.

Increasing the use of these channels has improved financial inclusion. The branch network is heavily dominated by large banks and concentrated in urban centers which accounted for 52.1% of total branches.

Banking agent activity continued to grow in number of agents, number of transactions, and value of deposit and withdrawal transactions.

Banking agent activity is dominated by large banks and concentrated in urban centers which accounted for 58.7% of the total number of active banking agents.

The report shows that the number of banking agents rose by 21.1%, the lowest in five years, to 48,923 last year from 40,410 recorded in 2020.

On cash deposits, during the last year, bank branches recorded 50,942,662 transactions worth 36,179.4 billion/-, an increase of 44% compared to 35,158,035.9 transactions worth 23,174.4 billion/- recorded in 2020.

Regarding cash withdrawals, the report shows that a total of 30,706,146 transactions worth 10,779.6 billion/- were recorded over the past year, an increase from 23,622,966. transactions worth 8,659.8 billion/- recorded in 2020.

Dar es Salaam region continues to lead with the highest number of officers, with the report showing they were 16,059 last year compared to 12,753 recorded in 2020, followed by Arusha with 3,944 officers in 2021, an increase from the 3,542 recorded in 2020.

Mwanza is third with the most agents in 2021 with 3,471, followed by Dodoma with 2,676, Mbeya with 2,559, Morogoro with 2,151, Kilimanjaro with 1,881, Iringa with 1,217 agents, Simiyu with 1,202, Pemba with 1,080, Coast with 1,078, Kagera with 1,041 and Njombe had 1,001 agents.

Highest growth in bank agent growth recorded in Pemba with 980% to 1,080 last year from 100 recorded in 2020, followed by Simuyu which recorded 257% growth to 1,202 last year from 336 recorded in 2020.


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