London-based fintech company Unlimit makes significant strides in its global expansion efforts with the acquisition of a payment license from the Bank of Tanzania (BOT), signaling its official entry into the Tanzanian market. This development marks a pivotal moment for Unlimit as it continues to bolster its presence across Africa, following similar licensing approvals in Nigeria and Kenya last year.
Unlimit's Entry into Tanzania
The approval granted by the BOT authorizes Unlimit as an official payment service provider in Tanzania, empowering the fintech to introduce a wide array of innovative financial solutions tailored to the local market. These offerings include business payments, merchant services, outbound payments, and more, aimed at enhancing financial inclusivity and fostering economic growth within the country.
Strengthening Africa's Payment Landscape
Unlimit's expansion into Tanzania reflects its steadfast commitment to extending its proprietary payment infrastructure throughout the African continent. By leveraging its expertise in digital payment solutions, Unlimit seeks to address the challenges of fragmented payment systems and facilitate seamless regional and global trade for Tanzanian entrepreneurs. This strategic move aligns with Unlimit's overarching mission of dismantling financial barriers on a global scale.
Unlimit's Vision for Tanzania
Trevor Goott, Director for Africa and India at Unlimit, expresses enthusiasm for the company's foray into the Tanzanian market, emphasizing the transformative potential of its payments infrastructure. Goott highlights Unlimit's dedication to providing tailored solutions that cater to Africa's unique financial landscape, ultimately fostering economic empowerment and driving long-term growth across the region.
Unlimit's Commitment to Collaboration
Peter Mlay, Head of Tanzania at Unlimit, extends gratitude to regulatory authorities for their support and guidance throughout the licensing process. Looking ahead, Mlay envisions a future where Unlimit's innovative payment solutions enrich the lives of both local and international merchants, businesses, and entrepreneurs in Tanzania. By offering enhanced value and consumer choice, Unlimit aims to catalyze positive change and drive socio-economic progress in the Tanzanian market.
As Unlimit embarks on its journey to transform Tanzania's financial landscape, the company remains steadfast in its dedication to innovation, collaboration, and long-term impact, paving the way for a more inclusive and prosperous future for all stakeholders involved.
