Flutterwave, a leading fintech company, has recently obtained a payment service provider licence in Cameroon, expanding its footprint to over 30 African countries. This milestone follows the company’s recent licences in Ghana, Zambia, and Uganda, further solidifying its presence in the region.
The approval from Cameroon’s National Payment Systems Department allows Flutterwave to offer its full range of digital payment solutions to businesses and individuals in Central Africa. This development is part of Flutterwave’s ambitious drive to build Africa’s most extensive digital payments network.
In the past year, Flutterwave has achieved major regulatory milestones, including a Payment System licence from the Bank of Zambia, an Enhanced Payment Service Provider licence in Ghana, and a Payment Systems Operator licence from the Bank of Uganda. The company’s expansion into Cameroon strengthens its presence in Francophone Africa, a market that is often underrepresented in fintech growth stories.
Olugbenga ‘GB’ Agboola, the Founder and CEO of Flutterwave, stated that the new licence aligns with the company’s vision. He emphasized Cameroon’s dynamic economy and growing digital adoption as key factors that make it a strategic market for Flutterwave’s long-term growth.
Since its inception in 2016, Flutterwave has expanded operations to over 30 African countries, providing payment infrastructure for businesses of all sizes. The company’s platform powers payments for global merchants like Uber, Microsoft, and Booking.com, while also enabling small businesses to conduct cross-border transactions.
The approval in Cameroon reflects Flutterwave’s regulatory strategy to build trust with regulators, businesses, and consumers. By securing country-specific approvals, the company aims to deepen financial inclusion and facilitate seamless transactions for merchants and consumers in Cameroon, while also working towards unifying Africa’s fragmented payments landscape.
Overall, Flutterwave’s expansion into Cameroon marks a significant step in its mission to revolutionize digital payments in Africa and underscores its commitment to driving economic growth and financial inclusion across the continent.
