Tuma Ventures Limited, a UK-based payments company regulated by the Financial Conduct Authority (FCA), has received approval from the Bank of Tanzania to operate as a licensed Payment System Provider (PSP).
With the PSP licence, Tuma Ventures will offer a range of financial services in Tanzania, including real-time payment processing for merchants, mobile wallet solutions, and float management for Fintech companies.
The company said these services aim to promote financial inclusion and support economic development in the region.
The approval builds on Tuma’s existing status as a licensed Payments Institution in the UK, which underpins its remittance operations across East Africa.
The company said the milestone reflects its commitment to regulatory compliance and innovation in financial services across its markets.
“Our mission has always been to deliver secure, reliable, and accessible financial solutions,” said Tuma Ventures’ director of operations. “We are thrilled to contribute to Tanzania’s economic growth and strengthen connections between families and businesses across borders with our innovative services.”
Tuma Ventures focuses on enabling East Africans in the diaspora to conduct seamless transactions with their home countries.
The company said its services help bridge the gap between diaspora communities and their families, fostering dependable financial transactions that improve daily life.
As a newly licensed PSP in Tanzania, Tuma will provide cross-border payments that meet global standards while addressing the specific needs of local customers. The company said its payment solutions are designed to be affordable, efficient, and secure.
Tuma Ventures plans to expand its partnerships and promote digital adoption in Tanzania to further financial inclusion.
The company said it will continue to collaborate with regulators, partners, and stakeholders to provide value to its growing customer base while ensuring compliance with local and international standards.
