Tanzanian fintech Tembo has received a Payment Service Provider (PSP) licence in Rwanda, marking another step in its regional expansion strategy as it looks to establish operations across Eastern, Southern, and Central Africa.
“Rwanda has established itself as one of Africa’s most progressive destinations for fintech innovation through forward-looking regulation and a strong commitment to digital transformation,” Reuben Mwatosya, Tembo’s co-founder, said in a statement. “We are proud to join this ecosystem and look forward to supporting businesses operating across Rwanda, East Africa, and the wider continent with world-class payment infrastructure.”
The licence allows Tembo to offer regulated payment services in Rwanda, placing it alongside other providers in the market, including Paystack, Irembo, NALA, and fellow Tanzanian fintech Azampay.
This story is for Condia Insiders only.
Keep reading free. Join the community at the forefront of African tech.
Already an Insider? Sign in
Last updated: July 28, 2026
