Flutterwave, the Nigerian fintech giant, recently said it had obtained two licenses from the National Bank of Rwanda, which allow 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 make it possible for his company to “provide safe, secure and seamless payment services for individuals and businesses in Rwanda.”
Helping Individuals and Businesses in Rwanda
Nigerian fintech giant Flutterwave Announced on March 15 that it obtained two additional licenses in Rwanda, which will help it expand its operations in East Africa. The licences, known as e-money issuer and remittance licences, were issued by the National Bank of Rwanda. They allow the fintech firm to offer its services to more than 13 million people living and working in Rwanda.
According to a statement issued by the fintech, owning the two licenses also allows Flutterwave to implement its range of products that include cross-border money transfer solutions. Products including the Flutterwave store, payment links, invoices and payment will also be available to individuals and businesses in Rwanda.
Commenting on the news, Olugbenga Agboola, founder and CEO of Flutterwave, said that the granting of the licenses shows the fintech’s commitment to its vision of linking 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 by the vote of confidence that these licenses gave us,” said Agboola.
Leah Uwihoreye, fintech East Africa Regional Lead, said the two licenses make it possible for her company to “provide secure and seamless payment services for individuals and businesses in Rwanda.”
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