Flutterwaveone of Africa’s leading payments companies, has in principle secured a payment aggregation license in Mozambique.
Once approved, global businesses and merchants will be able to expand their operations in Mozambique, accept payments and reach their customers in Mozambique, expanding their reach.
What they say
Olugbenga “GB’ AgboolaFlutterwave Founder and CEO says:We are grateful to the Central Bank of Mozambique for this approval. It comes at an opportune time when Mozambique’s digital payments ecosystem is experiencing tremendous growth.
As the payment needs of individuals and businesses evolve across the country, we are ready to leverage our technology, extensive industry experience and end-to-end solution to meet their diverse payment needs. We aim to empower local businesses and open doors for global businesses across industries by providing them with a secure and convenient payment solution that leads to inclusive growth.“
Because this matters
Mozambique has a rapidly growing electronic payments ecosystem. Recent reports predict that the total value of the country’s digital transactions will increase by over 15.28% (CAGR) over the next four years, resulting in the projected total amount over US$9 billion by 2028.
Zoom out
Flutterwave is seemingly gearing up for an IPO soon with Flutterwave’s CEO stating that their recent hires, including a new board chair, two independent directors and experienced executives were needed to fill the roles needed to “speech technology translation” for regulatory authorities.
The big picture
With this new license acquisition, Flutterwave now operates in 34 African countries
Follow us on our WhatsApp channel, Twitterand Instagramand subscribe to our weekly newsletter to make sure you don’t miss any news.
Related