Tuma Ventures has received approval from the Bank of Tanzania as a licensed Payment System Provider (PSP).
The PSP license enables Tuma to offer a wide range of financial services in Tanzania, including real-time payment processing for merchants, mobile wallet solutions, and float management for other fintechs.
These solutions are designed to enhance financial inclusion and drive economic growth in the region.
Andrew, Director of Operations at Tuma Ventures, emphasized the significance of this achievement:
“Securing this license from the Bank of Tanzania is a pivotal moment for Tuma as we expand into this vibrant market. Our mission has always been to deliver secure, reliable, and accessible financial solutions. We are thrilled to contribute to Tanzania’s economic growth and strengthen connections between families and businesses across borders with our innovative services.”
This approval builds on Tuma’s foundation as a licensed Payments Institution in the UK, reinforcing its commitment to regulatory compliance, innovation, and excellence in financial services.
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The company plays a vital role in facilitating seamless transactions for East Africans in the diaspora, allowing them to support their families and businesses as if they were physically present.
As a newly licensed PSP in Tanzania, Tuma aims to revolutionize cross-border payments by providing affordable, efficient, and secure solutions that meet global standards while catering to local needs.
The company remains dedicated to fostering partnerships and driving digital adoption to advance financial inclusion.
By working closely with regulators, partners, and stakeholders, Tuma Ventures is poised to deliver unparalleled value to its growing customer base while ensuring full compliance with local and international financial regulations.
