Grace Ashiru
Flutterwave, Africa’s leading payment technology company, has announced that it has received approval in principle for a payment aggregator license from the Central Bank of Mozambique. This license will allow Flutterwave to offer its full range of payment services within Mozambique, thereby enhancing its operations in southern African markets.
Opportunity for Flutterwave
Mozambique is witnessing a rapid expansion in its e-payment ecosystem. According to recent reports, the total value of digital transactions in the country is expected to grow by over 15.28% annually over the next four years, reaching more than US$9 billion by 2028. This dynamic growth presents a significant opportunity for Flutterwave to contribute to the nation’s burgeoning financial landscape.
Flutterwave’s move into Mozambique aligns perfectly with its strategic vision of leveraging its extensive infrastructure, numerous licenses, and global network of partnerships to facilitate seamless business operations and expansion across Africa for global enterprises. With Flutterwave’s broad reach across Africa, enterprise businesses stand to gain immensely. Whether it’s Mozambican businesses looking to expand across the continent or international enterprises aiming to enter the Mozambican market, they can tap into Flutterwave’s expansive network to realize their ambitions.
Ready to leverage its technology
Expressing gratitude to the country’s apex bank and sharing insights into plans for Mozambique, Flutterwave’s Founder and CEO, Olugbenga “GB” Agboola, stated, “We are grateful to the Central Bank of Mozambique for this approval. It arrives at a pivotal time as Mozambique’s digital payment ecosystem is witnessing tremendous growth.
As the payment needs of individuals and businesses evolve throughout the country, we are prepared to leverage our technology, extensive industry experience, and comprehensive solutions to meet their diverse payment requirements. Our objective is to empower local businesses and create opportunities for global enterprises across all industries by offering a secure and convenient payment solution that fosters inclusive growth.”
Recently, Flutterwave announced an International Money Transfer License in Malawi, the same region as Mozambique, along with Money Transmission Licenses in 13 states of the US.
