TITLE:
The Contribution of Financial Technology to Financial Inclusion in Tanzania: Accessibility, Usage, Business Growth and Challenges of Financial Technology Adoption
AUTHORS:
Lwidiko Badi, Willy Maliganya
KEYWORDS:
Financial Technology, Financial Inclusions, Business Growth, Accessibility and Usage
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.15 No.10,
October
16,
2025
ABSTRACT: The study assesses the contribution of financial Technology to financial inclusion in Tanzania. It explored the accessibility and usage of financial Technology, the influence of financial technology on financial inclusion, the contributions of financial technology on business growth and barriers to financial technology adoptions in Tanzania. Innovation dissemination and Technology adoption theory were used to guide the study. The study was an empirical literature review based on observation, experience and evidence. The empirical articles were searched through the Google Scholar search engine using keywords such as financial technology, financial inclusion, accessibility and usage of financial technology, the effects of financial technology on financial inclusion, and barriers to financial technology adoption in Tanzania. Screening procedures for articles searched in Google Scholar were done using the publication date, the title, abstract, and conclusions sections of the articles, and ultimately, 20 articles were selected out of 5534 articles obtained from Google Scholar’s search engine. The results indicated that financial technology is currently accessible. Furthermore, the provision of mobile phones has enabled the usage of digital financial services to all who were previously underserved. There is an excellent connection between financial technology, financial inclusion and business growth. Despite the country’s widespread adoption of financial technology, challenges remain to make the technology more adoptable. These include digital divide, cybersecurity risks, and limited financial literacy. Policies and infrastructure for financial technology should be in place to push the adoption of the new technology to be inclusive. The study recommends that efforts must be in place to enhance the financial technology spread for economic growth in the country, as long as all nations that embrace financial technology have developed financial systems and achieved economic growth.