Flutterwave gets preliminary license to tap Mozambique's $15bn market

Daba Finance/Flutterwave gets preliminary payment aggregator license in Mozambique

STARTUP VENTURE CAPITALMay 30, 2024 at 12:37 PM UTC

TLDR

Mozambique's central bank grants Flutterwave approval-in-principle for payment aggregator license, expanding into southern African markets.
Approval opens doors for enterprise businesses looking to expand into Mozambique, providing growth opportunities for Mozambican businesses across Africa.
Flutterwave's payment infrastructure now available in Mozambique, offering seamless payment services for businesses in the region.

Mozambique's central bank has granted an approval-in-principle to Flutterwave, Africa's largest startup and digital payment company, for its payment aggregator license.

With this approval, Flutterwave can now extend its operations into southern African markets and offer its payment services within Mozambique.

This development holds promise for enterprise businesses, enabling those seeking expansion into Mozambique or Mozambican businesses eyeing growth across Africa to leverage Flutterwave's payment infrastructure and services.

Key Takeaways

Flutterwave's expansion into Mozambique comes at an opportune time, as the country gears up for a significant surge in digital transactions, projected to surpass $15 billion over the next four years and reach a cumulative value of over $15.28 billion by 2028. With licenses already obtained in several African nations, Flutterwave is solidifying its presence across the continent. It secured an International Money Transfer Operator (IMTO) license from the Reserve Bank of Malawi in November 2023 and reaffirmed its commitment to investing in Kenya during a recent meeting with President William Ruto.

Flutterwave

Digital Payments

Mozambique

Expansion

Startups

Unicorn

Fintech