Flutterwave gets permit in Kenya

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Flutterwave
Flutterwave

Things are looking up for Flutterwave in East Africa, TechCabal reports.

A year after the Central Bank of Kenya (CBK) accused the Nigerian fintech of operating without a permit in Kenya, the fintech has taken the first step to remedy its position.

This week, CEO Olugbenga Agboola revealed, in an interview with Bloomberg, that the company has been given the approval to apply for a money remittance licence in the country. Per Agboola, Flutterwave has also registered its name in Kenta.

While the money remittance licence is yet to be approved, the CEO expects that it will be issued soon.

The company is also moving forward with its plans to go public which were stalled by the string of accusations it faced from regulators last year.

“There’s some kind of customers we’ll attract when we are public,” said Agboola. “The large global clients who need you to have the same level of compliance and level of global view that they have.”

By attaining these licenses, the company looks to relay to clients that Flutterwave is “the most reliable platform to use”.

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