This archive report was first published on 19 August 2021.
On August 19, 2021, Pesapal, a payment gateway enabling customers to use their credit cards, banks, and mobile networks to settle bills from one portal, secured significant regulatory approvals in Kenya and Tanzania.
The Central Bank of Kenya (CBK) accredited Pesapal as a payments solutions provider, while the Tanzania Communications Regulatory Authority (TCRA) issued the firm with a National Application Service Licence, allowing it to operate in the country.
According to Pesapal's CEO, Mark Mwongela, the regulatory approvals demonstrate the company's commitment to impacting the online payments ecosystem and will enable e-commerce businesses to grow and expand further in East Africa.
Speaking on the significance of the approvals, Pesapal's Tanzania country manager, Bupe Mwakalunda, stated, "We are investing in Tanzania to reshape the future of commerce. For merchants, digital payments mean reducing costs associated with handling and losing cash, and broadening their customer base as more and more people move away from cash."
Founded in 2009, Pesapal operates in Kenya, Uganda, Tanzania, Rwanda, Malawi, and Zimbabwe.
