Nigeria: Flutterwave secures payment licence from Central Bank Of Mozambique

Flutterwave, a top payment company in Africa, has obtained a provisional payment aggregator license in Mozambique.

Upon final approval, this will enable global enterprises and merchants to extend their operations to Mozambique, accept payments, and connect with Mozambican customers, thereby expanding their market presence.

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.”

Mozambique’s e-payment ecosystem is experiencing rapid growth. Recent projections indicate that the total value of digital transactions in the country will rise by over 15.28% (CAGR) over the next four years, reaching an estimated US$9 billion by 2028.

Flutterwave appears to be gearing up for an IPO, as indicated by recent strategic hires. The CEO mentioned that the addition of a new board chair, two independent directors, and seasoned executives was necessary to bridge the gap between technical jargon and regulatory requirements.