Africa’s leading fintech company, Flutterwave, has officially launched in Zambia after securing a payment system license from the country’s financial regulator. This expansion brings the company’s reach to over 35 countries, reinforcing its mission to drive digital payments and financial inclusion across Africa.
Flutterwave’s CEO, Olugbenga ‘GB’ Agboola, expressed excitement about entering the Zambian market, emphasizing the country’s high potential for digital payment innovation. He stated that the move aligns with the company’s vision to provide businesses with the tools needed to compete locally and globally.
“Our goal is to empower businesses with seamless and secure payment solutions. Zambia presents an incredible opportunity for us to support local businesses, drive innovation, and boost the country’s economy,” Agboola said.
With Zambia’s increasing internet penetration and mobile money adoption, Flutterwave’s entry is expected to enhance cross-border transactions, reduce payment costs, and simplify financial processes for individuals and businesses.
Flutterwave’s presence in Zambia offers several key benefits:
- Seamless Transactions: Businesses can now receive and process payments faster and more efficiently.
- Cross-Border Payments: Zambian enterprises will gain access to international markets through Flutterwave’s global payment infrastructure.
- Economic Growth: By reducing transaction barriers, the company aims to stimulate business expansion and attract international investments.
According to Oluwabankole Falade, Flutterwave’s Chief Regulatory Officer, the company is committed to working closely with Zambian authorities to ensure compliance with local financial regulations.
“We appreciate the trust placed in us by the Bank of Zambia and look forward to contributing to the country’s financial ecosystem,” Falade noted.
Since its inception in 2016, Flutterwave has processed over 630 million transactions worth $31 billion. The company has successfully expanded into markets such as Ghana, Rwanda, Uganda, and Mozambique, with plans for further growth.
Additionally, Flutterwave has played a key role in enabling global merchants to localize payments in Africa, allowing users to pay for services like Netflix and Uber in local currencies. The company is currently valued at over $3 billion and holds operational licenses in more than 15 African countries, the U.S., the U.K., and parts of the EU.
With its continued expansion, Flutterwave is proving to be a driving force in Africa’s digital payment revolution, also solidifying its position as one of the big players in the global fintech industry.
