Fintech company Unlimit has announced its entry into the Tanzanian market and received the Bank of Tanzania (“BOT”) licence, marking another significant step in its regional expansion.
The BOT’s approval of Unlimit as an authorised payment service provider will allow the fintech to offer the Tanzanian market a range of new services, such as business payments, merchant services, and outbound payments.
The launch of Tanzanian operations marks an important step in Unlimit’s broader strategy of expanding into Africa, which follows the approval of similar licences last year in Nigeria and Kenya. By launching operations in a third African country, Unlimit aims to enhance its presence and investment in the region by expanding the reach of its proprietary payment infrastructure across the continent. The addition of this infrastructure aims to remove existing barriers to regional and global trade for the country’s entrepreneurs as Unlimit continues to work towards its mission of eliminating financial borders worldwide.
Trevor Goott, director for Africa and India, Unlimit, said: “It’s a tremendous opportunity to launch our operations in Tanzania, and we’re excited to bring our unparalleled payments infrastructure to yet another market in Africa. Through digital payment solutions expertly tailored to the continent, we strongly believe we can help consolidate the fragmented African payments landscape and drive broader economic growth by providing the best possible support to local businesses and entrepreneurs. We are building for the long-term.”
Peter Mlay, head of Tanzania, Unlimit said: “We thank the regulators for their support and guidance, and we are now looking forward to onboarding international and local merchants, businesses and entrepreneurs and driving more value and consumer choice across the Tanzanian market through our unique payment solutions.”
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