As African businesses continue moving toward digital transactions, fintech companies are racing to build the infrastructure needed to support that transition. In Tanzania, Swahilies has taken a major step forward after receiving a Payment Service Provider (PSP) license from the Bank of Tanzania, giving the company greater control over how payments are processed for thousands of SMEs using its platform.
The license marks a significant milestone for the Dar es Salaam-based fintech company as it continues expanding digital financial solutions designed for African businesses. With the approval, Swahilies can now process payments directly for its merchants instead of relying on third-party providers, which is expected to improve efficiency, reduce transaction delays and strengthen the company’s growing payments infrastructure.
The development comes at a time when more small and medium-sized enterprises (SMEs) across Africa are adopting digital financial tools to manage operations, receive payments and improve access to financial services. Swahilies says its focus is to simplify payments for businesses while helping them transition away from traditional systems that are often slow, expensive or difficult to scale.
Founded in December 2020 by John Haule, Mohamed Ngarama and Kelvin Haule, the company initially started as an e-commerce installment platform before pivoting in 2022 toward bookkeeping and payment solutions for SMEs. Since then, the company has steadily expanded its services, working with thousands of businesses across Tanzania.
According to the company, Swahilies has already supported more than 15,000 SMEs through bookkeeping tools and embedded finance solutions that help businesses organize records, manage transactions and access digital financial services designed for growth.
Building Payment Infrastructure for African Businesses
Swahilies says it is building payment processing systems that make it easier for businesses across Africa to accept digital payments from anyone, anywhere. Through its platforms, businesses can accept mobile money payments, card payments and other digital transactions using mobile applications, websites and APIs.
The company believes simplifying digital payments is critical for SMEs, many of which still face challenges related to inefficient payment systems and limited financial infrastructure. By allowing businesses to receive payments more quickly and securely, Swahilies says it hopes to reduce operational barriers that slow down growth.
Beyond payments, the company is also developing end-to-end fintech and digital banking platforms tailored for African markets. Its solutions are designed to help financial institutions digitize operations, improve efficiency and expand financial access to underserved businesses and communities.
Expansion Plans and Recent Growth
The PSP license follows a series of developments for the company over the past year. Swahilies recently merged Kuza Business and Swahilies Pay into a single platform as part of efforts to streamline services for businesses using its ecosystem.
The company also secured a €100,000 grant from Germany’s Federal Ministry for Economic Cooperation and Development (BMZ), funding that supported product development and innovation. In addition, Swahilies has begun piloting cross-border supplier payment solutions, an area that could help businesses manage regional trade more efficiently as cross-border commerce continues growing across Africa.
Although Swahilies operates mainly in Tanzania, the company is registered in Delaware, United States and says it plans to expand into more African countries in the near future.
With the new license now in place, Swahilies is positioning itself to play a larger role in Africa’s evolving digital finance sector while strengthening support for SMEs that increasingly rely on fast, accessible and reliable digital payment systems to grow their businesses.
