Financial inclusion: economic growth driver in Tanzania

​Gross domestic product in East African country 2014 grows by 7 per cent.

​​BRUSSELS, 18 May 2015 – Tanzania’s gross domestic product last year grew with not less than 7 per cent due to, among other factors, inclusive financing, digitalisation and financial intermediation. 

For instance, in 2009 population with access to financial services was merely 27 per cent but jumped to 50 per cent in 2013. In the context of these successful data Tanzania Postal Bank, WSBI’s member, ranks second in getting financial inclusion through new technologies at affordable costs.

Financial inclusion allows banks to reach many customers and to mobilise more deposits, which are crucial to spur investments through commercial loans.