Pan-African fintech infrastructure provider Fincra has received a major regulatory green light to operate as a Payment System Provider in Tanzania. The approval, granted by the Bank of Tanzania under the Payment Systems Licensing and Approval Regulations, 2015, allows Fincra to deliver regulated payment services in the East African nation. This development marks a significant expansion of the company’s presence in East Africa and reinforces its commitment to building seamless cross-border payment infrastructure across the continent.
Unlocking Local Payment Services in Tanzania
With this approval, Fincra is now authorized to offer a comprehensive range of regulated payment services to businesses operating in Tanzania. These include local collections in Tanzanian Shillings, business payouts both domestically and internationally, and real-time payments enabled through its API. This expansion positions Fincra to serve companies across multiple sectors seeking secure, scalable, and compliant payment infrastructure.
CEO Emphasizes Regulatory Milestone
Fincra’s Chief Executive Officer, Wole Ayodele, emphasized the importance of this development, calling it a significant validation of the company’s regulatory approach and long-term vision. He noted that the license strengthens Fincra’s ability to deliver added value to businesses operating in or entering East Africa. Ayodele reiterated the company’s broader goal of building payment infrastructure that connects and empowers African economies.
Strategic Importance of the Tanzanian Market
Tanzania's rapidly growing digital economy and its strong national agenda for financial inclusion have made it a focal point for fintech expansion. As cross-border trade continues to increase across Africa, the need for reliable, transparent, and regulated payment channels becomes more urgent. Fincra’s entry into this market aims to address these gaps and provide essential infrastructure for businesses of all sizes.
Driving Seamless Payment Solutions Across Africa
Through its developer-friendly APIs and modular payment infrastructure, Fincra enables businesses to seamlessly manage payments across borders while remaining compliant with local regulations. Its services are particularly suited for fintechs, logistics companies, travel agencies, remittance providers, and retail operators expanding into new markets. By reducing the complexity of payment processing, Fincra empowers African businesses to scale with greater efficiency and confidence.
Part of a Broader Continental Strategy
The Tanzanian license follows a similar regulatory achievement in South Africa, where Fincra was recently approved as a Third Party Payments Provider (TPPP). These developments reflect the company’s strategic efforts to build a pan-African payment infrastructure capable of supporting regional and international commerce. With regulatory approvals in both Southern and Eastern Africa, Fincra is laying the groundwork for a more integrated African financial ecosystem.
Supporting Economic Growth Through Financial Innovation
Fincra’s entry into Tanzania aligns with broader economic goals, supporting digital transformation and inclusive financial access in the region. By enabling real-time, compliant payment solutions, the company is contributing to the continent’s broader digital and economic evolution. This move is expected to benefit not just Tanzanian enterprises but also the wider East African business community.
As Fincra continues to expand its regulatory footprint, it remains focused on delivering the infrastructure needed to support a more connected African economy. The company’s efforts to secure licensing in key markets underscore its commitment to regulatory integrity, innovation, and sustainable growth. With operations now licensed in both South and East Africa, Fincra is well-positioned to become a central player in Africa’s cross-border payment landscape.