Priya Patel
TLDR:
- London-based fintech company Unlimit expands its payment services into Tanzania, gaining regulatory approval from the Bank of Tanzania.
- This move marks Unlimit’s third African licensing, following approvals in Nigeria and Kenya, showcasing the company’s commitment to increasing its presence in the region.
Global fintech company Unlimit has expanded its payment services into Tanzania, after gaining regulatory approval from the Bank of Tanzania. This move represents Unlimit’s third African licensing since 2023, with previous approvals in Nigeria and Kenya. Established in 2009, Unlimit offers a variety of financial services ranging from payment processing to banking and banking as a service. The company stated that by entering the Tanzanian market, it is reaffirming its dedication to expanding its payment infrastructure across the continent to facilitate regional and global trade for local entrepreneurs.
Trevor Goott, the director for Africa and India at Unlimit, expressed confidence in the company’s ability to streamline the African payments landscape and stimulate economic growth through tailored digital payment solutions. He emphasized Unlimit’s long-term vision and commitment to providing support to local businesses and entrepreneurs. Peter Mlay, head of Tanzania at Unlimit, thanked regulators for their guidance and support, highlighting the company’s readiness to onboard international and local merchants to enhance consumer choice in the Tanzanian market.
Overall, Unlimit’s expansion into Tanzania signifies a strategic move to deepen its presence in Africa and drive financial inclusion by offering innovative payment solutions to businesses and consumers in the region.
