Tanzanian fintech company Swahilies has officially received a Payment Service Provider (PSP) license from the Central Bank of Tanzania.

• This new license empowers Swahilies to develop and launch its own financial products in collaboration with licensed institutions and to enhance services for higher transaction volumes.
• The key organization involved is Swahilies, a fintech that has already assisted over 15,000 SMEs with bookkeeping and embedded finance solutions.
• The approval signifies a significant step for Swahilies to expand its role within Tanzania's rapidly growing digital finance sector, particularly in meeting the increasing demand for SME-focused financial tools.