Tanzania: London-based Fintech Unlimit Expands into Tanzania Following Approval from Bank of Tanzania

Unlimit, a London-based fintech company, is broadening its footprint into Tanzania after receiving authorization from the Bank of Tanzania (BOT). This strategic move, coming less than a year after the firm’s expansion into Nigeria and Kenya, cements its position as a prominent provider of payment solutions across the region.

With the BOT’s green light, Unlimit is poised to introduce a suite of services in Tanzania, encompassing business payments, merchant services, and outbound payments. This expansion underscores Unlimit’s dedication to strengthening its presence and investment in Africa, extending its proprietary payment infrastructure throughout the continent.

By integrating this infrastructure, Unlimit aims to tackle existing challenges hindering regional and global trade for Tanzanian entrepreneurs, aligning with its overarching mission to dismantle financial barriers worldwide.

“Tackling the fragmented African payments landscape through expertly tailored digital payment solutions is integral to our vision of fostering broader economic growth by offering optimal support to local businesses and entrepreneurs. We are committed to long-term growth,” comments Trevor Goott, Director of Unlimit for Africa and India.

In April 2023, Unlimit launched its inaugural African operations in Nigeria after obtaining its Payment Solution Service Provider (PSSP) license from the Central Bank of Nigeria. These advancements position the fintech to compete with other industry players such as Flutterwave, Lemfi, Payday, and Grey Finance in the African markets.