Flutterwave Receives Payment Aggregator License Approval in Mozambique

Introduction

Flutterwave, Africa’s leading payment technology company, has announced it has received an approval-in-principle for its payment aggregator license from the Central Bank of Mozambique. This license will enable Flutterwave to offer its comprehensive payment services within Mozambique, strengthening its operations in the southern African markets.

Strategic Expansion and Recent Approvals

Recently, Flutterwave secured an International Money Transfer License in Malawi and Money Transmission Licenses in 13 States of the US. These achievements highlight the company's ongoing commitment to expanding its reach and capabilities in key markets across the globe.

Mozambique’s Growing E-Payment Ecosystem

Mozambique’s digital payment ecosystem is experiencing rapid growth. Recent projections indicate that the total value of digital transactions in the country will increase by over 15.28% (CAGR) over the next four years, resulting in a projected total of over US$9 billion by 2028. This dynamic growth presents a significant opportunity for Flutterwave to contribute to the burgeoning financial landscape.

Strategic Vision and Benefits

Flutterwave’s expansion into Mozambique aligns with its strategic vision of leveraging its infrastructural reach, multiple licenses, and global partnerships. This approach aims to facilitate seamless business operations and expansion across Africa for global enterprises. Mozambican businesses seeking to expand across the continent will also benefit from Flutterwave’s extensive reach.

CEO’s Perspective

Expressing gratitude to the Central Bank of Mozambique, Olugbenga “GB” Agboola, Founder and CEO of Flutterwave, shared his insights on the company's plans for Mozambique:

"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 solutions 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.”