Flutterwave expands to Zambia

Flutterwave, a top payments technology company in Africa, has secured a Payment System License to operate in Zambia

With this license, Flutterwave can now offer secure and affordable mobile money services to businesses in Zambia, supporting both domestic and international trade while driving financial inclusion and economic progress.

Zambia represents a significant growth opportunity for Flutterwave, given its increasing internet penetration and high dependence on mobile money for daily transactions. Mobile money services contribute nearly 70% to the country’s financial inclusion rate. Through its mobile money collection and payout solutions, Flutterwave enables businesses across various sectors to simplify payments, cut transaction costs, and scale operations both locally and globally.

Flutterwave's next move?

“Zambia is a market with enormous potential for growth and innovation, so we are excited to bring our payment solutions here,” said Olugbenga ‘GB’ Agboola, founder and CEO of Flutterwave. “Our goal is to provide businesses across the entire African region with the tools they need to compete not just locally but globally. Flutterwave’s infrastructure now stretches across the majority of Africa, and with our new license in Zambia, we are one step closer to achieving our mission. At Flutterwave, we believe that by simplifying payments, we can unlock new opportunities for businesses in Zambia and contribute to the country’s broader economic development.”

For global companies entering Zambia, Flutterwave provides a reliable payment gateway, ensuring smooth local transactions and supporting a variety of payments, from consumer purchases to business-to-business transactions. Similarly, Zambian businesses looking to expand internationally can use Flutterwave’s cross-border payment solutions to collect payments from customers abroad and seamlessly engage in global trade.

“Acquiring the Payment System License in Zambia is a crucial step in our Pan-African expansion strategy,” said Oluwabankole Falade, chief regulatory officer at Flutterwave. “This license allows us to not only support Zambian businesses in growing and competing globally but also to ensure that our operations are in full compliance with local regulations. We are deeply grateful to the Bank of Zambia for their trust and for the opportunity to work within Zambia's financial ecosystem. We are committed to collaborating closely with the Bank of Zambia and other regulatory bodies to promote financial innovation and drive economic growth.”

Having established a presence in over 30 countries, Flutterwave is a trusted payments provider for businesses across Africa. Its entry into Zambia reaffirms its commitment to strengthening African enterprises and promoting economic development through digital payment solutions.

Also read: Flutterwave wins payments award