Tanzania’s journey towards a cash-light economy received a significant boost yesterday as global payments firm Visa launched its local office in Dar es Salaam, marking a deeper engagement with the country’s digital finance landscape.

The event, known as Visa Day, brought together government officials, regulators, and industry players to celebrate the company’s expanded presence in Tanzania, The Citizen reported.

Visa has appointed Victor Makere as Country Manager for Tanzania, who will also oversee operations in Uganda, Rwanda, and Burundi.

Makere stated that Visa aims to support Tanzania’s shift to secure and efficient digital payments by working more closely with both businesses and consumers.

“We’re not just offering services, we want to become part of the economic fabric by supporting sectors such as tourism, education, agriculture, and innovation,”

he said.

He added that Visa’s global reach would help Tanzanian businesses connect to international markets, noting that the firm’s infrastructure is built on high global standards for cybersecurity and data privacy.

Bank of Tanzania Governor Emmanuel Tutuba described the launch as a vote of confidence from investors and a reflection of the country’s successful policy reforms.

“Visa’s presence aligns with reforms and infrastructure investments aimed at expanding digital finance,”

he said.

Tutuba highlighted that, as of May 2025, e-money in circulation had surpassed Sh2.18 trillion.

He also pointed to the country’s over 66 million active SIM cards as a clear indicator of strong mobile penetration, and emphasised the benefits of regional integration through the EAC, SADC, and AfCFTA for digital service providers.

Visa’s Head of Southern and East Africa, Michael Berner, noted that SMEs remain a key focus, with 84% of Tanzanian SMEs already accepting digital payments, although 40% still rely on cash.

Featured image credit: Edited by Fintech News Africa, based on image by Peter Mitchell via Unsplash