A central bank letter issued by the Bank of Tanzania (BoT) to Chillnet Company Limited provides a fascinating peek into how early-stage fintech innovators interact with financial regulators.  

​Here is a breakdown of what the letter entails and what it means for Chillnet's journey ahead.

​The Backstory: Recognition to Engagement

​The letter, dated 16th July 2026 (Ref. No. LD.170/515/02/1358), is addressed to Mr. Edward Andrew Kasembe, Founder and CEO of Chillnet Company Limited in Dar es Salaam.  

​Chillnet’s journey to the central bank didn't happen out of nowhere:  

​Award-Winning Innovation: Chillnet gained recognition in the TEHAMA Awards 2025 under the category of Innovation in ICT Products and Services – Emerging Technologies.  

​Institutional Referral: Following this recognition, the Tanzania Commission for Science and Technology (COSTECH) referred Chillnet to the Bank of Tanzania for engagement.  

​What is Chillnet Building?

​Chillnet presented its proposed fintech platform designed specifically to support Small and Medium Enterprises (SMEs). The platform aims to integrate several core business functions into one ecosystem:  

​Online Business Transactions & Marketplace Services: Connecting buyers and sellers.  

​Communication Features: Streamlining interactions between businesses and customers.  

​Inventory Management: Helping SMEs track their stock and operations.  

​Built-in eWallet & Financial Transactions: Enabling direct financial movements on the platform.  

​Regulatory Guidance & Current Status

​Because Chillnet's platform touches on payment services and eWallet functionality, it falls directly under the oversight of regulated financial services.  

​The Bank of Tanzania provided preliminary regulatory guidance regarding applicable legal requirements. However, the central bank also clearly set the scope of this letter: 

• Chillnet is currently at a pre-revenue stage and exploring funding pathways, including commercial bank financing.
• Issued strictly for factual confirmation of their engagement.
• The letter does not constitute an official license, approval, endorsement, financing recommendation, or guarantee by the central bank.
• Any financial institution evaluating Chillnet must make independent commercial decisions.

The letter was formally issued by Ms. Nangi Moses Massawe from the Directorate of Financial Deepening and Inclusion at the Bank of Tanzania.