In a significant move, Flutterwave, Africa’s largest financial technology company, has further solidified its presence on the continent by acquiring an International Money Transfer Operator (IMTO) license in Malawi.
The company’s Co-founder and CEO, Gbenga Agboola, made the announcement via a blog post and his official Twitter handle.
This strategic acquisition is part of Flutterwave’s ongoing efforts to extend its services across various African markets, aligning with its mission to facilitate seamless financial transactions for Africans globally.
Flutterwave’s Mission in Action:
Agboola expressed his excitement about Flutterwave’s mission to assist Africans in navigating the global financial landscape.
With the newly acquired IMTO license in Malawi, Flutterwave aims to empower Malawians abroad to send money back home effortlessly using the Send App.
The CEO reiterated the company’s commitment to delivering the best possible financial services and thanked the Reserve Bank of Malawi for their trust in Flutterwave.
Continued Expansion and Global Reach:
Flutterwave’s expansion strategy aligns with the World Bank’s projection of a 1.4% growth in global remittances to $656 billion in 2023.
The company has been strategically positioning itself to play a major role in this growth not only in Africa but on a global scale.
Earlier this year, Flutterwave ventured into North Africa by acquiring Payment Services Provider and Payments Facilitator licenses in Egypt.
This move enables the company to serve as an official payment service provider, collecting and settling payments locally and globally.
In September, Flutterwave marked its entry into the Asian market through a partnership with IndusInd Bank, becoming the first African company to streamline remittances from India to Africa.
The company concluded its audacious international expansion in August, extending its payment capabilities into the United States and Canada.
This move solidified Flutterwave’s position as a global player in the financial technology sector.
Flutterwave’s Impressive Track Record:
As of March of this year, Flutterwave had processed an impressive 100 million payments, totaling nearly $20 billion across 33 African countries.
This remarkable track record underscores the company’s dedication to customer satisfaction and its role in making global financial transactions more accessible to individuals and businesses.
Flutterwave’s acquisition of the IMTO license in Malawi marks another milestone in its journey to revolutionize financial services in Africa and beyond.
As the company continues to expand its footprint, it remains dedicated to providing seamless and innovative solutions for individuals and businesses, ultimately bringing the world closer to their fingertips.
