Nigerian Fintech Flutterwave Gets Two Licenses From Rwanda’s Central Bank – Fintech Bitcoin News
Flutterwave, the Nigerian fintech giant, recently said it had received two licenses from the National Bank of Rwanda, allowing it to offer its services to more than 13 million people living and working in Rwanda. According to Flutterwave’s representative in the country, the two licenses enable her company “to provide safe, secure and seamless payment services for individuals and businesses in Rwanda.”
Helping individuals and businesses in Rwanda
Nigerian fintech giant Flutterwave announced on March 15 that it has secured two more licenses in Rwanda, which will help it expand its operations in East Africa. The licenses – known as Electronic Money and Remittance Issuer Licenses – were issued by the National Bank of Rwanda. They enable the fintech firm to offer its services to more than 13 million people living and working in Rwanda.
According to a statement released by the fintech, having the two licenses also allows Flutterwave to distribute its range of products that include cross-border money transfer solutions. Products including Flutterwave’s store, payment links, invoices and checkout will also be available to individuals and businesses in Rwanda.
Commenting on the news, Olugbenga Agboola, founder and CEO of Flutterwave, said the awarding of the licenses demonstrates the fintech’s commitment to its vision of connecting Africa through payments. The CEO also explained why Rwanda is an important market for Flutterwave. He said:
“As a country known for promoting innovation and promoting the use of digital technology, Rwanda has always been important to our expansion plans in East Africa. We are happy with the vote of confidence to be awarded these licences,” said Agboola.
Leah Uwihoreye, the fintech’s East Africa regional manager, said the two licenses enable her company “to provide safe, secure and seamless payment services for individuals and businesses in Rwanda.”
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