The Latest

Digital Payments Company Secures Payment System Provider License from Bank of Tanzania

Tuma Ventures has obtained a Payment System Provider (PSP) license from the Bank of Tanzania. The license enables the company to offer digital payment solutions, real-time transactions, and mobile wallet services in Tanzania.
February 3, 2025
1 minute read
Tanzania digital payments

Tuma Ventures Limited, a digital payments company specializing in remittances and financial transactions, has received a Payment System Provider (PSP) license from the Bank of Tanzania.

The license enables the company to provide digital payment solutions, real-time transactions, mobile wallet services, and financial infrastructure for merchants across Tanzania while supporting the country’s growing digital payments sector.

Tuma Ventures already operates as a licensed payment institution in the UK, facilitating cross-border remittances for East Africans.

With this new authorization, the company is set to expand its reach and strengthen its presence in Tanzania’s digital financial ecosystem.

Andrew, Director of Operations at Tuma Ventures, commented on the development: “Securing this license from the Bank of Tanzania is a significant milestone. It enables us to provide safe, reliable, and accessible financial solutions to individuals and businesses in Tanzania. Our goal is to bridge the gap between East Africans at home and abroad through seamless digital transactions.”

Tuma Ventures operates as a licensed Payments Institution in the UK and is authorized by the Central Bank of Kenya in partnership with NCBA Bank.

Want to know more about Finance in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers Finance, plus regulations, key sectors, and investment opportunities—all in one place.

Download Free Guide
Tweet
Share
Share
Share
Related Posts
Bank of Tanzania National Payment Systems Annual Report 2025
Read More

Tanzania Digital Credit Grows 32%, Digital Savings Value Triples, Mobile Money Transactions Near USD 100 Billion in 2025

Tanzania's digital credit value grew 32.29% to TZS 5,577.73 billion across 336.52 million transactions in 2025, while digital savings value tripled (up 263%) to TZS 3,181.24 billion, and volume rose 110% to 97.53 million transactions. Active mobile money users rose 19.89% to 75.78 million, and mobile payment value grew 28.30% to TZS 255,133.96 billion, driven by alternative credit scoring models that extend financing to MSMEs and smallholder farmers without traditional collateral.
Tanzania Dar es Salaam Business Center
Read More

Tanzania to Establish International Financial Centre in Dar es Salaam to Attract Global Capital

Tanzania's National Business Council has agreed to establish an International Financial Centre in Dar es Salaam, with Bank of Tanzania Governor Emmanuel Tutuba confirming the country meets prerequisites including political stability and a mature banking sector. The centre will operate under a dedicated legal framework yet to be enacted, targeting domestic and foreign investors seeking easier access to capital for large development projects.
Bank of Tanzania Financial Stability Index 2014-2025
Read More

Tanzania Banking Assets Up 23.8%, Capital Markets Up 35.1%, Social Security Up 21.4%, Insurance Up 6.8% in 2025

The Bank of Tanzania Financial Stability Report for 2025 shows banking sector total assets grew 23.8% to TZS 76,975 billion, private sector credit expanded 23.5% with mining up 30.1% and trade up 29.4%, and the non-performing loans ratio fell to 2.8%, the lowest in the East African Community. Total capital market investment rose 35.1% to TZS 63,096.4 billion, social security assets grew 21.4% to TZS 25,921 billion, insurance assets rose 6.8% to TZS 2,633.6 billion, and foreign reserves stood at USD 6,312 million covering 5.2 months of imports.
Tanzania Second Financial Sector Stakeholders Forum
Read More

Tanzania Outlines Eight Financial Sector Priorities From Climate Finance to Islamic Banking and Launches Insurance Strategies to Raise Sector GDP Contribution to 30%

Tanzania's Finance Minister Khamis Mussa Omar has outlined eight financial sector priorities—from climate finance and Islamic banking to digital asset regulation and SME capital access—and launched two new insurance strategies. The National Inclusive Insurance Strategy (NIIS) targets agriculture, livestock, fisheries, mining, and forestry, while the RIDeS aims to raise insurance's GDP contribution from 22% to 30%.

Want to know more about investing in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers key sectors, regulations, and investment opportunities—all in one place.

Download Free Guide