Flutterwave has welcomed the withdrawal of claims against the company by Kenya’s Asset Recovery Agency (ARA) in July 2022.
The Asset Recovery Agency (ARA) obtained an ex parte court order to review the bank accounts of several foreign-owned technology firms, including Flutterwave Payments Technology Limited Kenya (Flutterwave Kenya).
“We are pleased to have this matter resolved so we can resume our work with our strategic partners in Kenya, providing innovative payment solutions to companies and individuals in one of Africa’s largest and most dynamic economies,” said Flutterwave Founder and CEO, Olugbenga Agboola.
“The fintech sector in Africa, with its new entrants and accelerated pace of growth attracts a considerable amount of scrutiny and at times, suspicion. Given our own rapid growth and status as a first mover, we anticipate and welcome the opportunity to be transparent about our operations and cooperate with regulators.”
“We are looking forward to continuing with our mission to simplify payments for endless possibilities in Kenya. We will continue to be the payment partner of choice for any Kenyan business looking to start locally and grow globally and any foreign firm looking to expand their business in Kenya,” CEO Agboola said.
