Tanzania has a total population of 50.7 million. As per the African Economic Outlook despite high economic growth averaging 7% over the past decade, about 28.2% of Tanzanians are poor, and poverty remains more prevalent in rural areas than in urban areas. Fin Scope Tanzania 2013 reports that the number of people who are financially excluded has seen a significant drop in 2013. Around 11.7 million people were financially excluded in 2009, this number has almost halved in 2013. This is mainly due to a rise in the usage of mobile financial services. Around 99% of the Tanzanian adult population is aware about mobile money and 45% of them are using it actively. The main financial institutions in Tanzania constitute commercial banks, licensed financial institutions (micro-finance institutions), and development banks. The principal providers of financial services to the poor and low income households in the rural and urban areas of Tanzania consist of licensed commercial banks, regional and rural unit banks, savings and credit cooperative societies, and several NGOs whose microcredit delivery operations are funded and supported by international donors.24 pages