• Thursday, July 18, 2024
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Flutterwave receives operational nod in Mozambique

Flutterwave lays off 24 workers, doubles down on remittance

Flutterwave, Africa’s leading payment technology company, has announced that the Central Bank of Mozambique has approved its payment aggregator license in principle.

According to a statement by the payment company, this license will enable Flutterwave to offer its comprehensive payment services within Mozambique and strengthen its operations in southern African markets.

“The expansion into Mozambique aligns with Flutterwave’s 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,” it said.

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With its recent expansion to Malawi, Flutterwave is making a strong statement to facilitate the fast-growing financial landscape in southeastern Africa. Mozambique is billed to process over $9 billion in e-payments by 2028, compounding at 15.28 percent year-on-year.

Speaking on the licence approval-in-principle, Olugbenga Agboola, founder and chief executive officer of Flutterwave said, “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.”