EvMak gets online payment license from BoT

EvMak Tanzania has received a Payment Service Provider (PSP) license from the Bank of Tanzania (BoT) in efforts to enhance innovation and the growth of the fintech sector.

The license will give this startup company an opportunity to extend its digital payment services for both sides of the union—mainland and isles—boosting the financial inclusion.

“We thank the central bank for the opportunity to extend our services within the Mainland and Zanzibar,” said Ms Happyglory Urassa, EvMak’s Business Development Manager on Wednesday during a press conference:

“The PSP license is a significant achievement for the company and through this, we are sure of boosting the growth of the financial business sector in the country.”

EvMak Tanzania is a fintech startup and also a business enabler, founded by Evans Makundi and established in 2021 with the obligation of providing digital payment services in the country.

The company’s Technology Manager, Mr Ino Moses said the license granted will enable the company to reach a wider range of customers hence, boosting the company’s customer portfolio.

“We are sure that this gateway will give us the chance to extend our offers and hence reach more customers,” said Mr Moses.

The company has several customers who have been enrolled for online payments and some 50 more waiting are in waiting list to be enrolled.

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