Mobile money in East Africa has grown significantly and is continuing to push through. Vodacom Tanzania has announced it latest contract with the Tanzania Revenue Authority (TRA) for an M-Pesa partnership.
The annunciation of this agreement has been well received and is likely to spur further growth in the mobile money sector in the East African country.
Vodacom said that this contract comes with a number of benefits, for example, vehicle owners will now be able to pay for licenses through the mobile money scheme, allowing business to move more smoothly and with ease.
TRA Director of Tax Payers Services and Education, Richard Kayombo, said that M-Pesa would go a long way in easing the purchase of vehicle road licenses.
It is estimated that about $1.2-million worth of transactions were already made facilitating road license payments in the first two weeks of the service.
“The furthering of mobile money schemes in East Africa, and notably Tanzania, are a major means for economic growth,” said Vodacom.
The company also added that it would enable users to transfer money for licenses quickly and without hassle in order to complete transactions in a timely manner.