Nigerian fintech giant Flutterwave recently announced that it has received two licenses from the National Bank of Rwanda to offer its The company announced that it is now able to offer its services to more than 13 million people living and working in Rwanda. According to Flutterwave representatives in the country, the two licenses will allow the company to “provide safe, secure, and seamless payment services to individuals and businesses in Rwanda.”
Supporting Rwandan individuals and businesses
Nigerian fintech giant Flutterwaveannounced on March 15 that it has secured two additional licenses in Rwandathat will help it expand its operations in East Africa. The licenses, known as the Electronic Money Issuance License and the Money Transfer License, were issued by the National Bank of Rwanda. This will allow fintech companies to serve the more than 13 million people living and working in Rwanda.
Owning the two licenses will allow Flutterwave to deploy a suite of products, including a cross-border money transfer solution, according to a statement released by Fintech. In addition, Flutterwave’s products, including its store, payment links, invoices, and checkout, will be available to individuals and businesses in Rwanda.
Commenting on the news, Olugbenga Agboola, founder and CEO of Flutterwave, said the granting of the license shows commitment to the fintech’s vision of connecting Africa through payments. The CEO also explained why Rwanda is an important market for Flutterwave. He stated that.
“Rwanda has always been important to our expansion plans in East Africa, as the country is well known for fostering innovation and promoting the use of digital technology. We are pleased to have received a vote of confidence that these licenses have been granted,” said Agboola.
Leah Uiholeye, Fintech’s regional leader for East Africa, said the two licenses will allow the company to “provide safe, secure and seamless payment services to individuals and businesses in Rwanda.”
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