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E-Financing and the Quest for Financial Inclusion in Tanzania

Tanzania Journal for Population studies and Development

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Title E-Financing and the Quest for Financial Inclusion in Tanzania
 
Creator Kihamba, John Samuel; University of Dar es Salaam
 
Description Electronic money transfer (e-finance) has gained support by the government ofTanzania as an innovative payment system that provides financial opportunities toboth rural and urban populations. However, despite the fact that e-finance offersmany advantages to both public and private institutions and individual clients; andthat it has been promoting financial inclusion through the provision of affordable,accessible and relevant financial products to individual as well as firms, yet it is notwithout challenges. Therefore, this paper sets out to examine current trends in relationto financial inclusion, and issues and challenges associated with electronic moneytransfers in Tanzania. It focuses on the dynamics of financial inclusion and challengesof electronic money transfers such as security risks, including cybercrimes (theft, spies,hackers, and fraudsters). Also, it delves into how low level of understanding by someclients and service providers is a challenge in e-finance since the two parties sharesensitive information through company computers as well as pin codes whentransacting electronic money. The paper recommends that it is imperative for thegovernment and other stakeholders to train both clients and service providers on thesafe use of e-finance and establish anti-cybercrime control mechanisms.Keywords: information and communication technology; e-finance; e-service; financialinclusion; mobile money.
 
Publisher Tanzania Journal for Population studies and Development
 
Contributor —
 
Date 2020-01-08
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://journals.udsm.ac.tz/index.php/tjpsd/article/view/3077
 
Source Tanzania Journal for Population studies and Development; Vol 26, No 1 (2019): TJPSD
 
Language eng
 
Relation https://journals.udsm.ac.tz/index.php/tjpsd/article/view/3077/3030
 
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