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New Tanzanian fintech firm launches digital payment services in Tanzania
What you need to know:
- The fintech firm, founded by entrepreneur, Mr Philip Mchau, is introducing a secure and scalable platform that provides digital payments, agency banking, card issuance, bill payments, E-commerce integration, and remittance solutions
Dar es Salaam. Tanzanian-based financial technology company Stakaba Technologies Ltd has launched digital payment services in Tanzania, aiming to expand financial inclusion and support the country’s transition towards a cashless economy.
The fintech firm, founded by entrepreneur, Mr Philip Mchau, is introducing a secure and scalable platform that provides digital payments, agency banking, card issuance, bill payments, E-commerce integration, and remittance solutions.
The services are designed to connect both urban and rural communities to modern financial systems, according to Mr Mchau who is also the company’s chief executive officer.
“This launch is more than a milestone—it is a commitment to empowering every Tanzanian, from the vendor in Dar es Salaam to the farmer in remote villages, with the tools to thrive in the digital economy,” he said.
“True financial inclusion is about empowerment, dignity, and opportunity for all,” he said.
Established in 2025, Stakaba’s entry comes at a crucial time, with over 50 million registered mobile money accounts in Tanzania and annual transactions surpassing Sh100 trillion. Despite this growth, about 60 percent of Tanzanians remain underserved by formal banking systems.
The company plans to onboard more than 30,000 agents and merchants by 2027, positioning itself as a key player in East Africa’s digital transformation.
Beyond fintech, Mr Mchau also runs businesses in the export and import of fruits and vegetables, supplying supermarkets, hotels, restaurants, and wholesale outlets.
His ventures have earned him a reputation for reliability, quality, and sustainable sourcing.
Stakaba Ltd is a Tanzanian-based fintech company dedicated to redefining how people pay, save, and access financial services, while driving innovation and economic growth across the country.
