Hello to our amazing Tanzanian family in South Africa!

We know that sending money home to Tanzania is a way to stay connected and support your loved ones. Your hard-earned Tanzanian Shillings (TZS) help with everything from school fees to daily needs, making a real difference in Dar es Salaam, Arusha, and beyond.

Staying up-to-date on exchange rates ensures your money goes further, bringing more joy and relief to those who matter most. With the Tanzanian Shilling showing steady gains against major global currencies, keeping track of exchange rates is more important than ever. It's all about the love and care that travels with each transfer, and we're here to support you every step of the way.

Why staying updated on exchange rates matters

Exchange rates can make a big difference when sending money home. A small change in the rate can impact how much your loved ones receive in Tanzanian Shillings.

Here’s why it matters:

• Maximise support: A better exchange rate means more money in your family’s hands for education, groceries, or emergencies. The Tanzanian Shilling has been gaining strength recently, so knowing when to send could make a real difference.
• Plan better: Understanding rates helps you decide the best time to send money, especially during important occasions like Ramadan or Christmas. With new government policies encouraging the use of the Tanzanian Shilling, exchange rates could continue to fluctuate.
• Save money: By avoiding bad exchange rates, you get the best value for every Rand you send. The Tanzanian government is actively taking steps to strengthen its currency by limiting dollar transactions, making it even more important to check rates before transferring.

Official rates vs. market rates: What’s the difference?

When it comes to exchange rates, you might hear about two types: official rates and market rates. Here’s what you need to know:

‍The Official exchange rate
This rate is set by Tanzania’s central bank and is used for formal trade and official financial transactions. It’s steady and reliable, like the foundation of the Serengeti. The government has recently taken action to stabilise the Shilling by controlling the use of US dollars in local transactions. 

‍Market rates
These rates fluctuate depending on demand, much like the busy markets of Dar es Salaam. While they can sometimes offer slightly better rates, they can also be unpredictable and risky, especially when dealing with informal money transfer services. Tanzania is tightening rules on dollar transactions, so using a safe and trusted service like Mama Money is more important than ever.

Why Mama Money is your trusted exchange rate partner

Here’s why checking exchange rates and sending money with Mama Money makes sense:

• Transparency: With Mama Money, what you see is what you get. We offer competitive and clear rates, so you don’t have to worry about hidden surprises.
• Safety: Avoid the risks of informal exchange rate deals. Mama Money ensures secure transactions every time.
• Consistency: Unlike fluctuating market rates, Mama Money provides reliable rates so you can plan your transfers with confidence.
• Convenience: Check live exchange rates directly on the Mama Money app and send money home with just a few taps.

Updates on the Tanzanian Shilling (TZS)

The Tanzanian Shilling is a stable currency, but like any currency, its value can fluctuate depending on global and local factors. Recent government measures, such as restricting US dollar transactions and requiring businesses to trade in Shillings, have helped strengthen the currency. The Shilling has also shown steady gains against major global currencies, recently trading at TZS 2,294 per US dollar. 

However, with ongoing economic shifts and policy changes, exchange rates may continue to fluctuate. Keeping an eye on the exchange rate is important to ensure you’re sending money at the right time. Mama Money’s app provides real-time updates, so you’re always in the know.

Using Mama Money for money transfers

Why choose Mama MoneyFor Tanzanians living in South Africa, finding a reliable way to send money home is essential.

Here’s why Mama Money might be the perfect choice for you:

• Competitive rates: We work hard to ensure you get the most competitive exchange rates so more of your money makes it back home.
• Low fees: Say goodbye to exorbitant transfer fees. Our low-cost approach means you save more with every transaction.
• User-friendly services: Our app is designed with you in mind—simple, straightforward, and hassle-free.

Registration and transaction process Getting started with Mama Money is a breeze. Here’s how you can begin sending money to Tanzania in no time:

1. Download the App: Find the Mama Money app in your smartphone’s app store and download it for free.
2. Sign up: Open the app and follow the prompts to create an account. You’ll need to provide some basic information and documents, depending on your registration type.
3. Start transferring: Once your account is set up, adding a recipient is easy. Just enter their details, choose how much you want to send, and select your payment method. Confirm the details, and your money is on its way!

By choosing Mama Money, you're not just sending money; you're ensuring it reaches your loved ones quickly, safely, and cost-effectively.

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Need help? Mama is here.

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Should you have any questions that are not covered above, please get in touch with Mama via WhatsApp at https://wa.me/+27648028428 or via +27 64 802 8428

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