The number of ATMs per hundred thousand people in Tanzania has shown a steady increase over the years. In 2023, the value stood at 8.04 units. From 2013 to 2023, the year-on-year variation generally hovered around 2-4%, showing a deceleration over time. The compound annual growth rate (CAGR) over the last five years was 3.08%. Forecasts indicate a slight decline in growth rate, with a five-year CAGR projected at 1.89% by 2028, leading to a total increase of 9.82% over this period.
Future trends to watch for include advancements in digital banking solutions which could impact the demand for physical ATMs, the economic conditions affecting investments in banking infrastructure, and regulatory changes promoting financial inclusivity which may spur further deployment of ATMs in Tanzania.
