Flutterwave has officially secured a Payment System License to operate in Zambia, marking a significant milestone in its Pan-African expansion strategy. This new license enables the fintech company to offer mobile money services to enterprises in Zambia, helping businesses streamline transactions, reduce costs, and scale efficiently both locally and internationally.
With mobile money adoption contributing nearly 70% to Zambia’s financial inclusion rate, Flutterwave recognizes the country’s vast potential for digital payment solutions. The company aims to empower businesses across various industries by providing seamless payment collections and payout services, making financial transactions more accessible and efficient.
According to Flutterwave’s founder and CEO, Olugbenga ‘GB’ Agboola, the company is committed to equipping African businesses with the financial tools they need to compete on a global scale. “By simplifying payments, we can unlock new opportunities for businesses in Zambia and contribute to the country’s broader economic development,” he stated.
For international businesses looking to expand into Zambia, Flutterwave provides a reliable payment gateway, ensuring seamless local transactions for consumer and business-to-business payments. This move strengthens Zambia’s digital economy and enhances financial connectivity within Africa and beyond.
Oluwabankole Falade, Flutterwave’s Chief Regulatory Officer, emphasized the importance of regulatory compliance, noting that securing this license demonstrates Flutterwave’s dedication to working closely with financial regulators. “We are grateful to the Bank of Zambia for their trust and for allowing us to contribute to Zambia’s financial ecosystem. Our goal is to drive financial innovation and support economic growth,” he added.
With operations spanning over 30 African countries, Flutterwave continues to be a trusted partner for businesses seeking digital payment solutions. The expansion into Zambia underscores the company’s mission to revolutionize Africa’s financial landscape and create new opportunities through fintech innovation.
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