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Flutterwave obtains license to operate in Egypt


Flutterwave, the Nigerian fintech company has obtained licenses to operate in Egypt as a payment service provider. This allows the company to start collecting and making local and international payments in the country.

“These licenses will allow Flutterwave to deploy Flutterwave for Business suite of products including store, payment links, invoices, checkout in Egypt,” the company said in a statement.

Flutterwave is one of Africa’s leading fintechs, often cited as the most valuable startup in the region. The company has been on an expansion drive lately, setting up operations in various markets.

The firm recently entered the Ethiopian market, enabling users to send money to the country via cash pick-up centres. Ethiopians in Diaspora can send money home and have the receivers pick up the cash in Dashen bank branches, Amole Agents and Ethiopian postal service offices.

“Our vision is to connect all parts of Africa through payments and connect Africa to the world. This way, it is easier for multinationals expanding into Africa to do so. This achievement is yet another step in that direction,” said Flutterwave CEO and founder Olugbenga GB Agboola.

Aalaa Gamal, Flutterwave’s Regional Manager said, “This is the beginning of other strategic wins in the North Africa and Middle East regions.”

The fintech recently announced a partnership with Multichoice Africa to bring back the popular reality TV show Big Brother Titans.

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Simon W Nderitu

Simon is a tech enthusiast who keeps a close eye on emerging technologies, startups and the general business environment. You will often catch him totally immersed and drooling over Artificial Intelligence, Machine Learning, Virtual Reality, Augmented Reality, IoT and just about any other tech that promises to revolutionize the way we live. Send tips to snderitu@techtrendske.co.ke

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