Nigerian fintech Flutterwave is now waiting to obtain a license as a payment and money transfer service provider in Kenya. It provides for an investment of 50 million dollars in the country.

Olugbenga Agboola, co-founder and CEO of The Unicorn said that “Flutterwave has obtained preliminary approval from the Central Bank of Kenya for a payment and money transfer service provider license. It is ready to make phased investments once it has formally obtained this license.” Flutterwave is now present in thirty African countries since its creation in 2016. In 2022, she encountered difficulties in Kenya for operating in the country without authorization. In particular, she was the subject of investigations by the Asset Recovery Agency (ARA) for allegations of “money laundering” and had her accounts frozen, before being laundered by the courts