Flutterwave has obtained a Payment System licence from the Bank of Zambia, allowing it to expand its operations into the country. This milestone enables Zambian businesses to leverage Flutterwave’s seamless local and international payment solutions, further strengthening digital financial services across the continent.
With mobile money services accounting for nearly 70% of Zambia’s financial inclusion, Flutterwave’s entry is set to accelerate digital transactions and business growth. The company’s technology provides secure, cost-effective payment solutions, empowering businesses to scale efficiently by streamlining mobile money collections and payouts while reducing dependence on cash transactions.
As a leader in Africa’s fintech sector, Flutterwave’s presence in Zambia serves as a crucial gateway for international companies looking to enter the market. Its cross-border payment solutions will help Zambian enterprises collect payments from customers abroad, fostering global business expansion.
This move is part of Flutterwave’s broader strategy to enhance payment infrastructure across Africa, where it now operates in over 30 countries. Before Zambia, the company secured a Payment Service Provider licence in Ghana (August 2024) and received approval for a payment aggregator licence in Mozambique (June 2024). Additionally, in 2021, Flutterwave partnered with MTN Group to enable mobile money payments in multiple African markets, including Zambia.
As Africa’s digital payment adoption continues to rise, Flutterwave’s expansion reinforces its role in bridging financial gaps, driving financial inclusion, and revolutionizing digital payments across the continent.
Read the full news here: Techpoint Africa