Flutterwave secures full license to empower businesses in Senegal

Flutterwave, Africa’s leading payments technology company, has recently secured a Payment Institution (PI) license from the Central Bank of West African States (BCEAO).

With this license, Flutterwave is positioned to help businesses in Senegal scale by offering its full range of seamless digital payment services. It further demonstrates the company’s commitment to connecting Africa to the global economy through world-class digital payment solutions.

Africa’s financial landscape is transforming with the rise of digital payments. As more innovations emerge to facilitate payments beyond traditional banking methods, trade is becoming more efficient, accessible, and inclusive. This has led to major economic growth within African countries. Senegal is a large contributor to this shift.

With 28% of adults using mobile money in Sub-Saharan Africa, Senegal represents a significant portion of the market, driving the growth of digital payments across the continent.

Flutterwave’s fully licensed payments infrastructure empowers businesses to efficiently manage collections and payouts, streamlining operations and enabling seamless scalability.

For small and medium-sized businesses in Senegal, Flutterwave offers flexible payment options such as mobile money and cards. Business owners can easily track transactions through a user-friendly dashboard and create payment links for seamless sharing on platforms like WhatsApp and Instagram, helping to break down traditional payment barriers and drive growth.

“It’s necessary to make payments as easy as possible across Africa,” said Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave. “The continent is brimming with business opportunities, and Senegal, like many other African nations, has the potential to be at the forefront, radically contributing to the growth of Africa’s digital economy.

“By reinforcing our commitment to delivering compliant, trusted, and flexible payment technologies for businesses in Senegal, we are actively powering a new financial future for the entire continent”.

Bode Aregbesola, senior vice president for Sales, West Africa, said: “We know firsthand the payment hurdles that frustrate business owners, from local businesses to large enterprises.

“At Flutterwave, we are set to provide secure technology and our extensive suite of products that directly solve these challenges, enabling them to unlock new revenue, manage payments effortlessly, and truly thrive as they scale within Senegal.”

The announcement follows Flutterwave’s recent commitment to offering licensed payment services in Cameroon. Currently operating in over 60% of African countries, Flutterwave enables business growth and connects Africa to the global economy with seamless payments. Flutterwave’s clientele includes giants across various industries such as transportation, entertainment, and hospitality – Uber, Air Peace, and Netflix, to name a few.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.