Mastercard has underscored its commitment to advancing economic growth through innovative digital payment solutions and strategic collaborations in Tanzania.

Speaking at the company’s inaugural Tanzania Industry Forum held in Dar es Salaam Mark Elliott, Division President, Africa at Mastercard said their goal is to create a financial ecosystem that drives sustainable growth for Tanzania.

“The Tanzania Industry Forum highlights Mastercard’s commitment to driving digital transformation and economic empowerment in Tanzania. By convening industry leaders and innovators, we are not only creating a collaborative environment to address the current challenges but also paving the way for a future where every Tanzanian has access to secure and seamless financial services. Our goal is to leverage our technology and local collaborations to create a robust financial ecosystem that drives sustainable growth and prosperity for all,” he said.

Tanzania’s economy has shown resilience, with real GDP growth projected to reach 5.7% in 2024​​. A World Bank report shows that despite global economic challenges, the services sector, particularly financial and insurance services, has been a significant contributor to Tanzania’s economic expansion.

Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard emphasized the event’s role in fostering collaboration to achieve sustained economic development.

“This forum is a vital step towards building a strong, inclusive financial ecosystem in Tanzania. By leveraging cutting-edge technologies and fostering strategic collaborations, we aim to create secure and accessible payment ecosystem that empowers underserved and unbanked communities across Africa,” said Ali.

The Mastercard Tanzania Industry Forum showcased Mastercard’s strategic efforts to build a secure and inclusive financial ecosystem in Tanzania. Through innovative digital solutions and strategic local collaborations, Mastercard says it is dedicated to providing secure, accessible payment systems that empower underserved and unbanked communities across the continent and align with its global mission of bringing one billion people into the digital economy by 2025. Africa Business Communities