Middle East & Africa Paytech Trending

Flutterwave Approved to Offer Payment Services in Mozambique Following Approval From Central Bank

Flutterwave, the African payment technology company, will be able to offer its services in Mozambique and strengthen its operations in Southern African markets, following approval-in-principle for a payment aggregator licence from the Central Bank of Mozambique

The expansion into Mozambique aligns with the Flutterwave strategic vision of deploying its infrastructural reach, multiple licenses, and network of global partnerships to make doing business in and expanding across Africa seamless for global enterprises from all over the world. Enterprise businesses will benefit from Flutterwave’s Africa-wide reach. Another way in which Flutterwave is achieving this goal is through its International Money Transfer licence in Malawi.

With its new payment aggregator licence, businesses looking to expand into Mozambique or Mozambican businesses seeking to expand across Africa will leverage Flutterwave’s reach to fulfil their dreams.

Mozambique has a rapidly growing e-payment ecosystem. Recent reports project that the country’s total digital transactions value will increase by over 15.28 per cent (CAGR) over the next four years, resulting in a projected total amount of over $9billion by 2028. Furthermore, this dynamic growth represents a significant opportunity for Flutterwave to contribute to the fast-growing financial landscape of the country.

Olugbenga “GB’ Agboola, founder and CEO of Flutterwave
Olugbenga “GB’ Agboola, founder and CEO of Flutterwave

Expressing gratitude to the country’s apex bank and sharing insights into plans for Mozambique, Olugbenga “GB’ Agboola, founder and CEO of Flutterwave says: “We are grateful to the Central Bank of Mozambique for this approval. It comes at the right moment when Mozambique’s digital payment ecosystem is experiencing tremendous growth.

“As individuals’ and businesses’ payment needs evolve across the country, we are ready to leverage our technology, extensive industry experience, and comprehensive solution to meet their diverse payment needs. Our goal is to empower local businesses and open doors for global enterprises across all industries by providing them with a secure and convenient payment solution that drives inclusive growth.”


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