This archive report was first published on 19 August 2021.
On August 19, 2021, Pesapal, a leading electronic payments firm, marked a significant milestone in its expansion across East Africa. The company has been accredited by the Central Bank of Kenya (CBK) as a payments solutions provider, while in Tanzania, it has received a service licence.
According to Pesapal, the regulatory approvals will enable it to offer digital e-commerce services seamlessly, accelerating innovation in digital payments. The Tanzania Communications Regulatory Authority (TCRA) issued the firm with a National Application Service Licence, allowing it to operate in the country.
"We are excited about the regulatory approvals. This demonstrates our commitment and ambition to impact the online payments ecosystem. I believe this will enable the e-commerce businesses to grow and expand further in East Africa," said Pesapal chief executive officer Mark Mwongela.
Pesapal operates in Kenya, Uganda, Tanzania, Rwanda, Malawi, and Zimbabwe since its founding in 2009. The company is investing in Tanzania to reshape the future of commerce, reducing costs associated with handling and losing cash, and broadening the customer base for merchants.
