Flutterwave, Africa’s leading payments technology company, has received approval from the Bank of Ghana to provide inward remittance services, expanding its footprint in the country’s growing fintech sector.
Why it matters
Ghana’s fintech ecosystem is booming, with mobile money playing a critical role—accounting for 60% of foreign exchange inflows.
The approval positions Flutterwave to streamline remittances, offering Ghanaians faster and more cost-effective ways to receive funds from abroad.
The big picture
- Ghana’s fintech growth is fueled by high mobile penetration and a supportive regulatory framework under the Bank of Ghana and the Ghana Digital Agenda.
- Beyond mobile money, sectors like InsurTech, LendTech, and Buy Now, Pay Later (BNPL) are expanding rapidly.
- The demand for seamless remittance solutions is rising, as more Ghanaians rely on international transfers for daily expenses and investments.
What they’re saying
“We are excited to receive this approval, which marks a significant step in our mission to simplify payments. Remittances play a vital role in the Ghanaian economy, and we aim to make the process seamless for Ghanaians in the diaspora,” said Flutterwave CEO Olugbenga ‘GB’ Agboola.
“This approval reaffirms our commitment to regulatory compliance and delivering reliable payment solutions tailored to Ghana’s needs,” added Oluwabankole Falade, Chief Regulatory and Government Affairs Officer.
