Tanzania
4 Fast-Growing Fintech Startups in Tanzania to Follow
Tanzania is home to small and nascent fintech sector that comprised just a little over 30 companies in 2021, data from a study conducted by the United Nations Capital Development Fund (UNCDF) show. But despite its relatively small size, the
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Blocks for Building and Expanding Fintechs in Tanzania
According to the IMF, Tanzania, a nation of 60 million people, is among the fastest-growing economies in 2024. Over the past two years, the Fintech industry in Tanzania has experienced significant growth, and you don’t need to use a telescope
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Financial Inclusion Improves in Tanzania, Facilitated by Mobile Money
In Tanzania, financial inclusion is improving at a rapid pace, facilitated by the proliferation of mobile phones and a significant uptake in mobile money services usage in the country, a 2023 study by Financial Sector Deepening Tanzania (FSDT), a local
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Tanzanian Fintech Nala Raises $10M from Monzo and Robinhood Founders
NALA, Founded by Tanzanian, Benjamin Fernandes (Founder & CEO). Led alongside, Nicolas Esteves (CTO), and Nicolas Eddy (COO), raised $10m round backed by Amplo, Accel, and Bessemer Partners with participation from Angels such as Jonas the co-founder & CTO of
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Tanzanian Fintechs Struggle With Unclear Regulation, Limited Funding, Lack of Talent
Although the fintech ecosystem in Tanzania has developed rapidly over the past decade, it remains nevertheless small and nascent with just 33 pure fintech players identified. Out of these companies, only 36% have managed to secure seed funding or growth
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Tanzania to Soon Have a Central Bank Digital Currency
The Bank of Tanzania, the country’s central bank, has announced plans to introduce its central bank digital currency, Bloomberg reported. The central bank is looking to bolster the capacity of its officials on central bank digital currencies, as well as
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Thunes and M-Pesa Tanzania to Boost Cross-Border Payments in East Africa
Global cross-border payments company Thunes has announced a partnership with M-Pesa Tanzania to launch a new service corridor, a statement from the company said. The service will allow users of M-Pesa Tanzania to transfer money directly from M-Pesa mobile wallets
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Payments Firm Cellulant Secures License to Operate From the Bank of Tanzania
Tanzania-based Cellulant Corporation has received approval to operate as a Payment Solution Service Provider (PSSP) from the Bank of Tanzania. This would place Cellulant amongst the top five PSSP players offering digital payments solutions to be endorsed by the Bank
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Vodacom Tanzania Now Offers Mondia Pay and M-Pesa Payment Options
Digital payments company Mondia Pay and mobile money service M-Pesa have partnered to allow Tanzanians to conveniently access Mondia’s suite of online content on the Vodacom Tanzania PLC digital services network. With the addition of the Mondia Pay and M-Pesa
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Tanzania’s Nascent Fintech Sector is Poised for Growth
In Tanzania, the fintech sector is still nascent with less than 50 companies, among which 68% in their early stages and 20% still at the pre-startup stage and not fully launched yet, a research found. An assessment of the Tanzanian
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