Read time: 3 minutes

London-based fintech Unlimit expands into Tanzania

By , Kenya Correspondent
Tanzania , 13 Mar 2024
Global fintech company Unlimit is launching its payments services in Tanzania.
Global fintech company Unlimit is launching its payments services in Tanzania.

Unlimit, a global fintech startup, is now offering payment services in Tanzania, expanding its foothold in Africa.

The company announced on Tuesday that it has gained regulatory licence from the Bank of Tanzania to operate as an authorised payment service provider in the country.

The beginning of operations in Tanzania represents the company's third African licencing since 2023, following licence approvals in Nigeria and Kenya.

Founded in 2009, the company provides a wide range of financial services, from acquiring (payment processing) to banking and banking as a service.

Unlimit stated in a statement that by commencing operations in a third African country, it has demonstrated its continuous commitment to increasing its presence and investment in the region by expanding the reach of its payment infrastructure throughout the continent.

The establishment of this infrastructure, it claimed, will remove existing impediments to regional and global trade for the country's entrepreneurs as it works towards its purpose of eradicating financial borders worldwide.

Trevor Goott, director for Africa and India, Unlimit, said: ‘’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.”

“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.” Peter Mlay, head of Tanzania, Unlimit said.

Daily newsletter