Nigerian fintech Flutterwave obtains two licenses from the Rwandan Central Bank – Fintech Crypto Updates
Flutterwave, the Nigerian fintech giant, recently said it had obtained two licenses from the National Bank of Rwanda, which enables it to offer its services to more than 13 million people living and working in Rwanda. According to Flutterwave’s representative in the country, the two licenses enable his company “to provide safe, secure and transparent payment services to individuals and businesses in Rwanda”.
Helping Individuals and Businesses in Rwanda
Nigerian fintech giant Flutterwave announcement on March 15, it obtained two additional licenses in Rwanda, which will help it expand its operations in East Africa. The licenses – known as e-money issuer and money transfer licenses – were issued by the National Bank of Rwanda. They allow the fintech to offer its services to more than 13 million people living and working in Rwanda.
According to a statement released by the fintech, owning the two licenses also enables Flutterwave to roll out its product line that includes cross-border money transfer solutions. Products such as Flutterwave Store, Payment Links, Invoices and Payment will also be available for individuals and businesses in Rwanda.
Commenting on the news, Olugbenga Agboola, Founder and CEO of Flutterwave, said the licensing shows the fintech’s commitment to its vision of connecting Africa through payments. The CEO also explained why Rwanda is an important market for Flutterwave. He said:
“As a country well known for fostering innovation and promoting the use of digital technology, Rwanda has always been important to our expansion plans in East Africa. We are delighted with the vote of confidence in obtaining these licenses,” said Agboola.
Leah Uwihoreye, regional fintech manager for East Africa, said the two licenses enable her company “to provide safe, secure and transparent payment services to individuals and businesses in Rwanda”.
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Nigerian fintech Flutterwave obtains two licenses from the Rwandan Central Bank – Fintech Crypto Updates
