The Factors Affecting the Adoption of Financial Technologies (Fintech) by Tanzania’s Informal Sector for the Growth of their Assets

Davis Matari and Ruth Temba
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Davis Matari: School of Economics and Management, Yanshan University, 066004, 438 West of Hebei Street, Qinhuangdao, China,
Ruth Temba: School of Economics and Management, Yanshan University, 066004, 438 West of Hebei Street, Qinhuangdao, China,

International Journal of Research and Scientific Innovation, 2024, vol. 11, issue 12, 227-241

Abstract: Tanzania has a significant presence of informal employment, with a substantial portion of its workforce engaged in the informal sector. This segment of the economy is characterized by activities that are not regulated by the government and often lack formal documentation, such as contracts or social security benefits. The informal sector in Tanzania is substantial in size, contributing notably to the country’s overall economic activity The application of the FinTech have played major roles to the informal sector effecting and improving business performance as far as financial transactions are involved creating future sustainability to the specific businesses done by the use of different financial system and tools applied. The aim of the present research is to cast light on the positive factors and barriers affecting the adoption of the financial technologies by the informal sector of Tanzania and its implication on the assets growth. Similar to many Sub-Saharan African countries.

Date: 2024
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