The Tanzanian government has announced that they were able to collect US$40.2mn in revenue over the past five years due to smart technology which has aided in regulating the telecoms sector in the country
The president of the United Republic of Tanzania, John Magufuli acknowledged the impact of the Telecom Traffic Monitoring System (TTMS) project implemented by Global Voice Group (GVG).
He admitted that the mismanagement of funds in the telecom industry had gotten out of control and with the help of the TTMS project, they have managed to eradicate almost all instances of fraud in external telecoms, bringing the figure down from over 65 per cent to just 10 per cent.
“Without this system, a large portion of this revenue would have gone into private pockets, instead of being used by the government for the greater good of the country,” he explained.
The system has also helped the government to understand and control a lot of electronic financial transactions like Mpesa and related transactions. This has allowed authorities to oversee these fast-growing services and to monitor their regulatory compliance as well as their security, reliability and quality for Tanzanians, especially the unbanked ones for whom mobile money represent essential services for their financial inclusion.
According to James Kilaba, the director general of the Tanzania Communications Regulatory Authority (TCRA), this has already made a significant impact on tracking mobile money transactions.
“The communications sector is such a vital sector of the economy, especially with all the development facilities. It is for this reason that we call it the new oil field because it generates billions and billions of dollars in the modern economy,” commented the president.
