Flutterwave, Africa's
leading payment technology company, has received approval-in-principle for its
payment aggregator license from the Central Bank of Mozambique. This license
enables Flutterwave to offer its comprehensive payment services in Mozambique,
strengthening its operations in southern African markets.
Mozambique's e-payment
ecosystem is rapidly growing, with a projected total digital transactions value
increase of 15.28% (CAGR) over the next four years, reaching over $9 billion by
2028.
The expansion into
Mozambique aligns with Flutterwave's strategic vision of deploying its
infrastructural reach, multiple licenses, and global partnerships to make doing
business in and expanding across Africa seamless for global enterprises.
Enterprise businesses
will benefit from Flutterwave's Africa-wide reach, enabling them to expand into
Mozambique or across Africa. Olugbenga "GB" Agboola, Founder and CEO
of Flutterwave, expressed gratitude to the Central Bank of Mozambique and
shared plans for Mozambique, stating, "We
will leverage our technology, experience, and comprehensive solution to meet
the diverse payment needs of individuals and businesses, empowering local
businesses and opening doors for global enterprises to drive inclusive
growth."
This development follows
Flutterwave's recent announcements of an International Money Transfer License
in Malawi and Money Transmission Licenses in 13 US states, further solidifying
its position as a leading payment technology company in Africa and beyond.
