In Tanzania, the fintech sector is still nascent with less than 50 companies, among which 68% in their early stages and 20% still at the pre-startup stage and not fully launched yet, a research found.

An assessment of the Tanzanian fintech landscape by the United Nations Capital Development Fund (UNCDF), in partnership with Tanzania’s Information, Communication and Technology (ICT) Commission and local innovation hub Sahara Ventures, identified just 34 active fintech startups in the country as of November 2020.