Fintech firm Unlimit has made a significant stride in its expansion strategy by entering the Tanzanian market, a move facilitated by the receipt of a license from the Bank of Tanzania (BOT).
This milestone is pivotal for Unlimit’s growth in Africa, enhancing its portfolio with a series of innovative financial solutions tailored for Tanzania, including but not limited to business payments, merchant services, and outbound payments. The license from BOT marks Unlimit as a key player in the Tanzanian financial ecosystem, promising to enrich the market with increased consumer choice and value.
This expansion is a testament to Unlimit’s broader vision of extending its influence across the African continent, following successful ventures in Nigeria and other countries. With a mission deeply rooted in eradicating financial barriers and enabling smooth business transactions across borders, Unlimit is set on empowering businesses globally. The company, headquartered in London, boasts a robust global presence with 500 employees and offices in major financial hubs around the world.
The move into Tanzania signifies Unlimit’s dedication to investing in Africa, aiming to transform the payment infrastructure and facilitate easier access to both regional and international markets for entrepreneurs.
This initiative is timely, considering the growing demand for cross-border transactions, projected to reach $238.8 billion by 2027. Unlimit’s solutions are designed to offer flexibility and freedom in conducting payments, thereby fostering business expansion without geographical limitations.
Trevor Goott, Unlimit’s Director for Africa and India, highlighted the importance of Tanzania in their African strategy, emphasizing the potential to reshape the payments landscape through digital solutions adapted for the continent.
This venture aligns with Unlimit’s long-term vision of fostering economic growth and supporting local businesses. The recent rebranding from Unlimint to Unlimit mirrors the company’s renewed focus and strategic direction, underlining its commitment to breaking down financial borders globally.
