The use of mobile phones elsewhere in the world including Tanzania has gained popularity. As the matter of facts, mobile phone technologies (MPTs) have brought tremendous changes in business sector including micro and enterprises (MSEs). This paper explores whether the dynamism of MPTs has significantly contributed to the performance of MSEs in Tanzania. The study involved a cross-sectional research design whereby 400 owner-managers were selected using proportionate stratified sampling technique. Data were collected using structured questionnaire. Content analysis was used to analyze qualitative data while descriptive independent samples t-test was performed. The t-test results show that there is a significant difference in capital growth between MSEs who use smartphones and those with normal phones. The study recommends that policy makers and other stakeholders in the sector have the responsibility to ensure changes of MPTs move parallel with training in order to empower MSEs the knowledge which will make them use mobile phones to increase their capital rates and hence reaching their business goals and objectives.