Flutterwave, the leading fintech giant in Africa, has unveiled ambitious plans to inject $50 million into Kenya, subject to regulatory clearance from the Central Bank of Kenya (CBK).
This substantial investment will be primarily allocated to expanding Flutterwave’s workforce and bolstering its infrastructure within Kenya’s borders. As of now, Flutterwave already boasts a team of more than two dozen dedicated professionals operating within the country.
CEO of Flutterwave, Olugbenga Agboola, expressed his enthusiasm for the Kenyan market, stating, “We are very optimistic about Kenya, and once we obtain the necessary license, our dedicated team in the country is poised to spring into action immediately.”
While the Central Bank of Kenya has yet to grant Flutterwave the license to operate within its jurisdiction, Agboola conveyed his confidence that the regulatory green light is forthcoming. He added, “We are pleased to be in the approval process. We remained steadfast and unwavering throughout this journey, even when faced with setbacks. The current administration has shown tremendous support.”
Flutterwave specializes in payment technology services, providing a versatile platform that enables businesses to seamlessly process payments, both online and offline. To date, the company has successfully secured over $420 million in funding and has achieved a valuation exceeding $3 billion.
This strategic investment marks Flutterwave’s commitment to strengthening its presence in Kenya, anticipating further growth and innovation within the region’s flourishing fintech sector. Stay tuned for more updates as Flutterwave’s expansion plans unfold.
Photo Source: Google
September 13, 2023
By: Delino Gayweh
Serrari Financial Analyst
