Unlimit, the global fintech company, has announced its entry into the Tanzanian market after receiving the Bank of Tanzania (“BOT”) licence, marking another significant step in the company’s expansion within the region.

The approval of Unlimit as an authorised payment service provider by the BOT will allow the fintech to provide a range of new offerings such as business payments, merchant services and outbound payments, among other things, to the Tanzanian market.

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.”

The launch of Tanzanian operations marks an important step in Unlimit’s broader strategy of expanding into Africa, and follows the approval of similar licences last year in Nigeria and Kenya. By launching operations in a third African country, Unlimit has underscored its continued commitment to enhancing its presence and investment in the region by expanding the reach of its proprietary payment infrastructure across the continent. The addition of this infrastructure will 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 around the world.

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.”

Unlimit, in June 2023 announced its entry into the Kenyan market and the receival of the Central Bank of Kenya licence, marking a significant milestone in its ongoing expansion throughout Africa. This strategic move follows Unlimit’s recent acquisition of the Central Bank of Nigeria licence, solidifying the company’s official recognition as a reputable provider of payment solutions within the region.