Flutterwave Expands Across Africa Amid IPO Talks
Hey Payments Fanatic!
Nearly a month ago, reports surfaced that Flutterwave, Africa’s highest-valued startup, was in talks for an IPO on the Nigerian Exchange (NGX). The $3 billion FinTech has since made several strategic moves, reinforcing its position as a key player in digital payments across the continent.
🇿🇲 The company recently secured a Payment System License in Zambia, expanding into a new country and receiving the allowance to facilitate cross-border transactions. This aims to help international businesses enter Zambia while enabling local companies to reach new markets.
🇳🇬 Back home in Nigeria, Flutterwave is deepening its footprint through partnerships. The startup teamed up with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide MSMEs with digital payment solutions, e-commerce tools, and financial access.
More recently, Nigeria’s Federal Inland Revenue Service (FIRS) integrated Flutterwave’s payment system, simplifying tax payments for businesses and individuals alike. As Olufunmilayo Olaniyi, Flutterwave’s SVP of Business Development, put it: “Working with the public sector is pivotal to shaping the future of digital payments in Nigeria.”
🇬🇭 Further west, in Ghana, Flutterwave has gained approval from the Bank of Ghana to offer inward remittance services, enabling a smoother flow of international payments into the country.
Shortly after, the FinTech partnered with Affinity Bank to integrate Pay With Bank Transfer, providing businesses with a secure and efficient way to receive payments. By leveraging virtual accounts, this solution enhances transaction transparency and accessibility, benefiting both enterprises and their customers in Ghana’s growing digital economy.
Flutterwave’s expansion across 30+ countries highlights the growing demand for digital financial solutions in Africa. While Revolut targets South Africa, most neobanks outside the continent are focusing on other regions. As global players take notice, the company’s role in revolutionizing digital payments across Africa is becoming harder to ignore.
If you’re interested in reading a bit about what’s been happening in Payments, keep scrolling!
Cheers,
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