Flutterwave, one of Africa’s leading payment companies, has secured a Mozambique payment aggregator licence in principle.
Once approved, global enterprises and merchants will be able to expand their businesses to Mozambique, accept payments, and reach their Mozambican customers, expanding their reach.
What They’re Saying
Olugbenga “GB’ Agboola, Founder and CEO of Flutterwave says: “We are grateful to the Central Bank of Mozambique for this approval. It comes at the right moment when Mozambique’s digital payment ecosystem is experiencing tremendous growth.
As individuals’ and businesses’ payment needs evolve across the country, we are ready to leverage our technology, extensive industry experience, and comprehensive solution to meet their diverse payment needs. Our goal is to empower local businesses and open doors for global enterprises across all industries by providing them with a secure and convenient payment solution that drives inclusive growth.“
Why This Matters
Mozambique has a rapidly growing e-payment ecosystem. Recent reports project that the country’s total digital transactions value will increase by over 15.28% (CAGR) over the next four years, resulting in a projected total amount of over US$9 billion by 2028.
Zoom Out
Flutterwave has been seemingly preparing for an IPO soon with Flutterwave’s CEO stating that their recent hires including a new board chair, two independent directors, and experienced executives were needed to fill roles needed to “translate tech speak” for regulators.
The Big Picture
With this new license acquisition, Flutterwave now operates in 34 African countries
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