Swahilies Secures PSP License From Central Bank of Tanzania
Swahilies has received a Payment Service Provider license from the Central Bank of Tanzania, enabling it to launch financial products and expand its fintech services for SMEs across the country...
✨ Key Highlights
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.
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Absa Bank Kenya Posts KSh 5.3 Billion Q1 Profit - May 2026
Absa Bank Kenya has announced a significant KSh 5.3 billion profit after tax for the first quarter of 2026, demonstrating resilience amidst economic challenges. Further expanding the financial services landscape in East Africa, Tanzanian fintech company Swahilies has officially received a Payment Service Provider (PSP) license from the Central Bank of Tanzania, enabling it to operate formally in the payment services sector. In a separate development, Airtel Kenya is set to receive a substantial $100 million equivalent in local currency from the International Finance Corporation (IFC) to bolster its mobile network expansion and refinance existing debt.
