Flutterwave has received approval to operate as a licensed payment service provider in Cameroon, advancing its goal of creating Africa’s largest digital payments network. The Nigerian Fintech company obtained the authorization from Cameroon’s National Payment Systems Department, allowing it to offer a full range of digital payment solutions to businesses and individuals in Central Africa
Flutterwave has secured a payment service provider license in Cameroon, further expanding its presence to over 30 African countries. This development follows the company’s recent licenses in Ghana, Zambia, and Uganda.
The new license allows Flutterwave to facilitate digital payments for both global and regional merchants in Cameroon
Flutterwave has secured a payment service provider license in Cameroon, further expanding its presence to over 30 African countries. This development follows the company’s recent licenses in Ghana, Zambia, and Uganda.
The new license allows Flutterwave to facilitate digital payments for both global and regional merchants in Cameroon
This approval enhances Flutterwave’s growing presence across Africa. In the past year, the company has achieved significant regulatory milestones, including licenses from the Bank of Zambia, an Enhanced Payment Service Provider license in Ghana, and a Payment Systems Operator license from the Bank of Uganda.
The new license also strengthens Flutterwave’s position in Francophone Africa, a region often overlooked in fintech development. It builds on the company’s previous partnership with telecom giant MTN, enabling merchants in Cameroon to accept mobile money payments via MTN MoMo.
Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, emphasized that the new license aligns with the company’s vision. He noted that Cameroon’s dynamic economy and increasing digital adoption make it a strategic market for Flutterwave’s long-term growth. “Cameroon holds a central place in the future of Africa’s digital economy, and we’re proud to play a part in unlocking its potential,” he stated.
Since its launch in 2016, Flutterwave has expanded to over 30 African countries, providing payment infrastructure for businesses of all sizes. The platform supports payments for global merchants, including Uber, Microsoft, and Booking.com, while also enabling small businesses to transact across borders.
The approval in Cameroon reflects Flutterwave’s broader regulatory strategy as it navigates challenges in markets like Kenya, where licensing and compliance issues have arisen. The company is focused on securing country-specific approvals to build trust with regulators, businesses, and consumers.
With this new license, Flutterwave aims to enhance financial inclusion and facilitate seamless transactions for merchants and consumers in Cameroon, marking a significant step towards unifying Africa’s fragmented payments landscape.
