ATR
CAF Data Centre Industry Outlook
HSSR rebrand
Communications Africa

twitteryou tubeacpRSS Feed

For Ghanaian customers, this license means more efficient and secure money transfers across the country. (Image source: Adobe Stock)

Flutterwave, a leading payments technology company, has recently secured an Enhanced Category Payment Service Provider license from the Bank of Ghana

This achievement signifies a major expansion of Flutterwave's presence across Africa, enabling the firm to offer a wide range of payment services directly within Ghana.

Ghana's favorable market conditions make it an ideal location for Flutterwave’s advanced solutions. With a stable democracy, a tech-savvy youth population, and a mobile internet penetration rate of 71%, Ghana is ripe for rapid digital growth. The country's digital payments market is expected to reach US$7bn in 2024 and grow at a rate of 15.78%, leading to a projected total value of US$12.96bn by 2028.

Ghana's payment revolution 

For Ghanaian customers, this license means more efficient and secure money transfers across the country. Businesses will gain access to direct collection and payout services, automated invoicing, payment links, and a versatile checkout solution that accommodates various payment methods such as cards, mobile money, and bank transfers.

Olugbenga ‘GB’ Agboola, founder & CEO of Flutterwave, commented, "When we started this journey, our goal was to unite the fragmented payment infrastructure in Africa, and securing this license in Ghana brings us a step closer to achieving that mission. At Flutterwave, we are committed to using our platform to promote economic growth to the nation, while also providing unparalleled service to all our prospective customers in Ghana and in the diaspora."

The Enhanced Category license enables Flutterwave to operate independently without relying on third-party services, making payment processes more efficient for both businesses and customers. Additionally, this license allows Flutterwave to support other licensed fintech companies in Ghana, contributing to a more integrated and effective financial ecosystem.

Oluwabankole Falade, chief regulatory officer at Flutterwave, said, "We are grateful to the Bank of Ghana for their trust and support in granting us this license. This milestone highlights our commitment to regulatory compliance and delivering secure, reliable payment solutions. We are excited to contribute to Ghana's dynamic business ecosystem and support the financial inclusion of Ghanaians, both locally and globally."

Oil Review Africa
NEW interactive digital platform

Most Read

Siemon's new LightStack and LightStack 8 offer cutting-edge ultra-high-density fibre solutions for data centers and enterprise networks, available globally. (Image source: Siemon)

iXAfrica Data Centres and Moringa School launch Kenya’s first comprehensive Data Protection course. (Image source: iX Africa)

AfriLabs joins ITU Development Sector, enhancing its mission to drive innovation and tech growth across Africa with global collaboration opportunities. (Image source: Adobe Stock)

The introduction of Network One in Nigeria aligns with the Central Bank of Nigeria’s directive for in-country transaction routing, boosting local processing capabilities. (Image source: Adobe Stock)

This agreement will enhance DTB’s digital strategy in Kenya, addressing increasing demand for digital payments. (Image source: Network International)

Safaricom and Kenya Airways unite to enhance efficiency with in-flight Wi-Fi, IoT solutions, and data science for improved operations and customer experience. (Image source: Adobe Stock)

Mandla Mbonambi, CEO of Africonology Solutions. (Image source: Africonology Solutions)

VOX Solutions partners with Orange Burkina Faso to combat messaging fraud and artificial traffic inflation through secure A2P message transmission and the VOX-3. (Image source: Adobe Stock)

Telecom Namibia partners with ZTE and Huafull to modernise and expand its mobile network, enhancing 4G, 4.5G, and 5G coverage, especially in underserved areas. (Image source: Telecom Namibia)

Latest news

iXAfrica Data Centres and Moringa School launch Kenya’s first comprehensive Data Protection course. (Image source: iX Africa)

The introduction of Network One in Nigeria aligns with the Central Bank of Nigeria’s directive for in-country transaction routing, boosting local processing capabilities. (Image source: Adobe Stock)

AfriLabs joins ITU Development Sector, enhancing its mission to drive innovation and tech growth across Africa with global collaboration opportunities. (Image source: Adobe Stock)

Safaricom and Kenya Airways unite to enhance efficiency with in-flight Wi-Fi, IoT solutions, and data science for improved operations and customer experience. (Image source: Adobe Stock)

Mandla Mbonambi, CEO of Africonology Solutions. (Image source: Africonology Solutions)

Siemon's new LightStack and LightStack 8 offer cutting-edge ultra-high-density fibre solutions for data centers and enterprise networks, available globally. (Image source: Siemon)

For Ghanaian customers, this license means more efficient and secure money transfers across the country. (Image source: Adobe Stock)

Cassava Technologies launches Cassava AI unit, partnering with tech giants like Microsoft and Google to enhance AI offerings and support enterprise clients globally. (Image source: Adobe Stock)

ThetaRay acquires Screena, enhancing its AI-powered financial crime detection platform to offer comprehensive screening and compliance solutions. (Image source: Adobe Stock)

This three-month partnership aims to enhance the quality and accessibility of broadcasting services for BON members across the country. (Image source: Adobe Stock)

Airtel Africa boosts network with 5,600 km fibre rollout and 3,000 new sites, enhancing data capacity by 33% for faster, reliable services. (Image source: Adobe Stock)

This solution offers a secure, stable, and high-performance primary connectivity network, crucial for engineering private networks or leveraging cloud-based applications. (Image source: Avanti Communications)

This agreement will enhance DTB’s digital strategy in Kenya, addressing increasing demand for digital payments. (Image source: Network International)

Zoho partners with She Code Africa to upskill African women in tech through intensive training in low-code development via the Young Creators Program. (Image source: Adobe Stock)

SEACOM celebrates its 15th anniversary, highlighting its impact on Africa's ICT and connectivity with milestones in subsea cable and fibre services. (Image source: Adobe Stock)

Africa Tech Festival

More Articles