Flutterwave secures payment aggregator license in Mozambique

Onwubuke Melvin
Onwubuke Melvin

Alex Omenye

Flutterwave, Africa’s leading payment technology company, announced today that it has received an approval-in-principle for its payment aggregator license from the Central Bank of Mozambique. This license will enable Flutterwave to offer its comprehensive payment services within Mozambique, thereby strengthening its operations in southern African markets.

Mozambique’s e-payment ecosystem is rapidly growing, with recent projections indicating a 15.28% annual growth rate (CAGR) in digital transactions over the next four years, resulting in a total transaction value of over US$9 billion by 2028. This growth presents a significant opportunity for Flutterwave to contribute to the country’s evolving financial landscape.

The expansion into Mozambique is part of Flutterwave’s strategic vision to leverage its infrastructure, multiple licenses, and global partnerships to facilitate seamless business operations across Africa. This development will benefit enterprise businesses seeking to expand into Mozambique or Mozambican businesses looking to grow across Africa, utilizing Flutterwave’s extensive reach.

Olugbenga “GB” Agboola, Founder and CEO of Flutterwave, expressed gratitude to Mozambique’s central bank and outlined plans for the country’s market. “We are grateful to the Central Bank of Mozambique for this approval. It comes at a pivotal moment when Mozambique’s digital payment ecosystem is experiencing tremendous growth. As payment needs evolve across the country, we are ready to leverage our technology, extensive industry experience, and comprehensive solutions to meet diverse payment needs. Our goal is to empower local businesses and open doors for global enterprises across all industries by providing a secure and convenient payment solution that drives inclusive growth.”

Recently, Flutterwave announced the acquisition of an International Money Transfer License in Malawi, in the same region as Mozambique, and Money Transmission Licenses in 13 States of the US, further solidifying its global presence and commitment to expanding its services.

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