Nigerian fintech Flutterwave receives two licenses from Central Bank of Rwanda – Fintech
Flutterwave, the Nigerian fintech giant, recently announced that it has received two licenses from the National Bank of Rwanda, allowing it to offer its services to more than 13 million people living and working in Rwanda. According to Flutterwave’s in-country representative, the two licenses will enable her company to “provide secure and seamless payment services to individuals and businesses in Rwanda.”
Help for individuals and companies in Rwanda
Nigerian fintech giant Flutterwave announced March 15 that it has secured two additional licenses in Rwanda, which will help it expand its operations in East Africa. The licenses — known as e-money issuer and remittance licenses — were issued by the National Bank of Rwanda. They enable the fintech company to offer its services to more than 13 million people living and working in Rwanda.
According to a statement released by the fintech, owning the two licenses also allows Flutterwave to deploy its suite of products, which includes cross-border money transfer solutions. Products such as Flutterwaves shop, payment links, invoices and checkout will also be available to individuals and businesses in Rwanda.
Commenting on the news, Olugbenga Agboola, Flutterwave’s founder and CEO, said the award of the licenses demonstrates the fintech’s commitment to its vision of connecting Africa through payments. The CEO also explained why Rwanda is an important market for Flutterwave. He said:
“As a country known for fostering innovation and adopting digital technologies, Rwanda has always been important to our expansion plans in East Africa. We are very pleased with the vote of confidence by granting these licenses,” said Agboola.
Leah Uwihoreye, the fintech’s East Africa Regional Lead, said the two licenses allow her company to “offer safe, secure and seamless payment services to individuals and businesses in Rwanda.”
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