The News:
- Flutterwave has obtained a Payment System licence from the Bank of Zambia, expanding its operations into the country.
- The licence enables Zambian businesses to leverage Flutterwave’s payment solutions for seamless local and international transactions, further strengthening digital financial services across the continent.
- This move aligns with Flutterwave’s broader strategy to strengthen its presence across Africa, now operating in over 30 countries.
With mobile money services accounting for nearly 70% of Zambia’s financial inclusion, Flutterwave’s entry into the market is set to accelerate digital transactions and business growth.
The company’s technology facilitates secure, cost-effective payments, empowering enterprises to scale operations efficiently. Businesses can now utilise Flutterwave’s platform for mobile money collections and payouts, streamlining financial processes and reducing dependency on cash-based transactions.
As an established leader in Africa’s fintech space, Flutterwave’s presence in Zambia provides a crucial gateway for international companies looking to enter the Zambian market. The platform enables seamless local transactions while supporting businesses aiming to expand globally.
By offering cross-border payment solutions, Flutterwave ensures Zambian enterprises can efficiently collect payments from customers abroad, fostering international business operations.
Flutterwave’s expansion into Zambia is part of its ongoing mission to enhance payment infrastructure across Africa. The company currently operates in over 30 countries, providing innovative digital payment solutions to businesses and consumers.
Before Zambia, Flutterwave secured a Payment Service Provider licence in Ghana in August 2024, enabling independent operations and simplifying payment processes for businesses and customers in the country.
Additionally, in June 2024, the company received approval in principle for a payment aggregator licence in Mozambique, further broadening its reach within the continent.
In 2021, Flutterwave partnered with MTN Group to enable mobile money payments in several African markets, including Zambia. This collaboration allowed businesses to accept payments through MTN Mobile Money (MoMo), enhancing the accessibility of digital transactions in the region.
As digital payment adoption continues to grow in Africa, Flutterwave’s strategic moves reinforce its position as a key player in the continent’s fintech revolution, bridging financial gaps and fostering economic inclusion.
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