Tuma Ventures gets PSP approval by Bank of Tanzania

In a statement on Thursday, the company Director of Operations Andrew expressed the company’s commitment to delivering secure, seamless, and customer-focused financial solutions to communities across the region and beyond. 

He argued that the PSP license affirms Tuma’s adherence to stringent regulatory standards and unlocks its ability to offer a comprehensive suite of financial services in Tanzania. 

“These include real-time payment processing for merchants, mobile wallet solutions, and float management for other fintechs—solutions designed to advance financial inclusion and foster economic development,” said the Director of Operations. 

"Securing this license from the Bank of Tanzania is a pivotal moment for Tuma as we expand into this vibrant market. Our mission has always been to deliver secure, reliable, and accessible financial solutions,” he added. 

The company also expressed its commitment to contributing to Tanzania’s economic growth and strengthen connections between families and businesses across borders with our innovative services.

“This milestone builds on Tuma’s strong foundation as a licensed Payments Institution in the UK, which serves as the cornerstone of its remittance operations in East Africa. It demonstrates the company’s commitment to regulatory compliance, innovation, and excellence in financial services across its markets,” said Andrew.

As a newly licensed PSP in Tanzania, Tuma aims at revolutionizing cross-border payments by offering solutions that are affordable, efficient, and secure. 

The company expressed commitment to working with regulators, partners, and stakeholders, Tuma to provide unparalleled value to its growing customer base while ensuring full compliance with local and international standards.