Africa’s leading fintech, Flutterwave, has expanded its remittance services to Malawi with a new International Money Transfer Operator (IMTO) license with a promise of capitalizing on tech to enhance transactions within the country.
Flutterwave has officially announced that it will leverage the license to enable seamless cross-border money transfers via its Send app to increase financial inclusion among Malawians within and without the country.
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“Helping Africans navigate global finance is our mission at Flutterwave. I’m pleased we’ve acquired an IMTO license in Malawi to make it easier for Malawians abroad to send money home,” announced Gbenga Agboola, the CEO of Flutterwave.
Mr. Agboola stated that Flutterwave looks forward to delivering top-tier financial services to Malawians at home and abroad.
Flutterwave has been making inroads across the continent with a presence in more than 30 countries. In 2022, the company entered North Africa by securing payment services licenses in Egypt, allowing it to collect payments, settle transactions globally, and deploy its suite of products in Egypt.
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To date, Flutterwave has processed $20 billion in payments across 33 African countries. With 100 million payments processed, the fintech keeps working to broaden financial inclusion.
In Kenya, although landed and baptized by fire, the company has slowly waded through the storms and is now in the process of establishing full services within the East African economic powerhouse. The company has promised to invest at least 7 billion shillings into the Kenyan market.
During the month, the High Court in Kenya allowed the Assets Recovery Agency (ARA) to withdraw the second and the only pending case against Flutterwave, giving the fintech a clean bill of health and a rejuvenated journey to invest within the country.
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