Flutterwave, Africa's leading payment technology company, has received an approval-in-principle for its payment aggregator license from Mozambique's Central Bank. This move allows Flutterwave to offer its full suite of payment solutions within Mozambique, strengthening its presence in southern Africa.
Mozambique boasts a rapidly growing e-payment sector. Experts predict the country's digital transaction value to surge by over 15% annually for the next four years, reaching a projected total of over US$9 billion by 2028. This dynamic growth presents a significant opportunity for Flutterwave to contribute to Mozambique's flourishing financial landscape.
The expansion aligns with Flutterwave's strategy of leveraging its infrastructure, licenses, and global partnerships to simplify cross-border commerce in Africa for international businesses. Companies of all sizes will benefit from Flutterwave's extensive network across the continent.
"We are thankful to the Central Bank of Mozambique for this approval," said Flutterwave Founder and CEO Olugbenga "GB" Agboola. "Mozambique's digital payment landscape is experiencing incredible growth, and we're here to support it. We'll utilize our technology, experience, and comprehensive solutions to meet the evolving payment needs of individuals and businesses throughout the country. Our goal is to empower local businesses and open doors for global enterprises by providing a secure and user-friendly payment solution that fosters inclusive growth."
This Mozambique license follows Flutterwave's recent acquisition of an International Money Transfer License in Malawi, another southern African nation, and Money Transmission Licenses in 13 US states.