What does it take to get a remittance licence in Tanzania?
To hold a remittance licence in Tanzania, you need the Money Transfer Service Provider licence from Bank of Tanzania. Published timeline: As PSP: 30-day processing; 5-year validity; commence within 6 months. 6 entities currently hold a remittance licence in Tanzania. Full requirements — minimum capital, local presence, timeline, local ownership, fees and ongoing obligations — are set out below in each instrument's own words, with source and date; amounts are in the statute's own currency.
“Cross-border remittance” here is the normalized activity: Provide inbound/outbound cross-border money transfer / remittance services under a dedicated licence, approval or registration (IMTO/MRP/MTSP/ADLA-type).
Activity id (as used by the Afriset MCP): fintech:REMITTANCE_XBORDER
Money Transfer Service Provider
Bank of Tanzania| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | Not officially published: The Payment Systems (Licensing and Approval) Regulations 2015 require documentary evidence of paid-up capital (reg 6(h)) but publish no numeric minimum-capital threshold for the Remittance category - the First Schedule sets licence fees only. | The Payment Systems (Licensing and Approval) Regulations, 2015 (GN under the NPS Act 2015; s.56) | not dated |
| Local presence / incorporation | As PSP: body corporate incorporated under the laws of Tanzania; primary data centre in Tanzania. Verbatim“A person eligible to operate a payment system shall be a body corporate incorporated under the laws of Tanzania … A payment system provider shall place its primary data center … in Tanzania” | The Payment Systems (Licensing and Approval) Regulations, 2015 (GN under the NPS Act 2015; s.56) | not dated |
| Timeline | As PSP: 30-day processing; 5-year validity; commence within 6 months. Verbatim“valid for five years” | The Payment Systems (Licensing and Approval) Regulations, 2015 (GN under the NPS Act 2015; s.56) | not dated |
| Local ownership | No such requirement: No local/citizen ownership %; non-Tanzanian senior management per Non-Citizen Act 2014. | The Payment Systems (Licensing and Approval) Regulations, 2015 (GN under the NPS Act 2015; s.56) | not dated |
| Fees | Licence Fee TZS 1,000,000; Renewal TZS 1,000,000 (the "Remittance" row). Verbatim“Remittance … One Million / One Million” | The Payment Systems (Licensing and Approval) Regulations, 2015 (GN under the NPS Act 2015; s.56) | not dated |
| Ongoing obligations | Same PSP regime: TISS net settlement, AML/CFT, risk management, 10-year records, primary data centre in TZ, BoT approval for cross-border, renewal ≥6 months prior. Verbatim“keep them for a period of not less than ten years … shall not operate cross-border payment system services without a written approval … provide financial services in partnership with a bank or financial institution” | The Payment Systems (Licensing and Approval) Regulations, 2015 (GN under the NPS Act 2015; s.56) | not dated |
Requirements as published in the cited instruments — not legal or compliance advice. Capital and fees are shown in the currency the statute itself uses. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.
Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-04 · unchanged since the previous check.
Who already holds this licence?
6 entities are on the Bank of Tanzania register under the Money Transfer Service Provider category — view the register .
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