Flutterwave Granted Payment Aggregator License in Mozambique, Poised to Fuel E-commerce Growth.

30 May 2024

African fintech leader, Flutterwave, has secured a crucial payment aggregator license from the Central Bank of Mozambique. This approval paves the way for Flutterwave to offer its comprehensive suite of payment solutions within Mozambique, further solidifying its presence in Southern African markets.

The timing couldn't be better. Mozambique's e-payment ecosystem is experiencing a surge, with recent reports anticipating a staggering 15.28% Compound Annual Growth Rate (CAGR) in the country's total digital transaction value over the next four years. This translates to a projected value exceeding US$9 billion by 2028. Flutterwave is poised to become a key player in this dynamic growth, contributing significantly to the nation's rapidly evolving financial landscape.

This expansion aligns perfectly with Flutterwave's strategic vision. By leveraging its extensive infrastructure, diverse licenses, and robust network of global partnerships, the company aims to streamline cross-border business operations across Africa for international enterprises. Businesses of all sizes will benefit from Flutterwave's expansive reach throughout the continent. Whether a company seeks to enter the Mozambican market or a Mozambican business desires to expand across Africa, Flutterwave provides the tools and network to make those dreams a reality.

"We are incredibly grateful to the Central Bank of Mozambique for approving our application," stated Olugbenga "GB" Agboola, Founder and CEO of Flutterwave. "This approval is pivotal for Mozambique's digital payments industry, which is experiencing phenomenal growth. As the payment needs of individuals and businesses across the country evolve, we stand ready to leverage our cutting-edge technology, deep industry expertise, and comprehensive solutions to address those needs. We aim to empower local businesses and unlock new opportunities for global enterprises across all sectors by providing them with a secure, convenient payment platform that fosters inclusive economic growth."

This Mozambique license follows a series of recent wins for Flutterwave. The company previously secured an International Money Transfer License in Malawi, another Southern African nation, along with Money Transmission Licenses in 13 US states. These developments solidify Flutterwave's position as a major force shaping the future of African commerce.

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