Flutterwave, Africa’s leading payment technology company, has announced that it has received an approval-in-principle for its payment aggregator license from the Central Bank of Mozambique. This license enables Flutterwave to offer its comprehensive payment services within Mozambique and strengthen its operations in the southern African markets.
Mozambique’s e-payment ecosystem is experiencing rapid growth, with projections that the country’s total digital transactions value will increase by over 15.28% (CAGR) over the next four years, resulting in a projected total amount of over US$9 billion by 2028. This dynamic growth represents a significant opportunity for Flutterwave to contribute to the fast-growing financial landscape of the country.
The expansion into Mozambique aligns with Flutterwave’s strategic vision of deploying its infrastructural reach, multiple licenses, and network of global partnerships to make doing business in and expanding across Africa seamless for global enterprises from all over the world. Enterprise businesses will benefit from Flutterwave’s Africa-wide reach, while businesses looking to expand into Mozambique or Mozambican businesses seeking to expand across Africa will leverage Flutterwave’s reach to fulfill their dreams.
Olugbenga “GB’ Agboola, Founder and CEO of Flutterwave, expressed gratitude to the Central Bank of Mozambique for the approval, stating, “It comes at the right moment when Mozambique’s digital payment ecosystem is experiencing tremendous growth. As individuals’ and businesses’ payment needs evolve across the country, we are ready to leverage our technology, extensive industry experience, and comprehensive solution to meet their diverse payment needs. Our goal is to empower local businesses and open doors for global enterprises across all industries by providing them with a secure and convenient payment solution that drives inclusive growth.”
This expansion into Mozambique follows Flutterwave’s recent announcements of an International Money Transfer License in Malawi and Money Transmission Licenses in 13 States of the US, further solidifying the company’s position as a leading payment technology provider in Africa and beyond.
