Flutterwave expands into North Africa

Flutterwave, Africa’s top payments technology firm, has announced its acquisition of Payment Services Provider and Payments Facilitator licenses in Egypt. The licenses, granted by the Egyptian government, make Flutterwave one of the few payment service providers in the country with local and global settlement capabilities.

With these licenses, Flutterwave will be authorized to collect payments, act as a payment service provider, and settle payments globally as well as locally. The firm, which offers cross-border transactions for global companies, will now be able to launch its suite of products, including store, payment links, invoices, and checkout, in Egypt.

The move will support international businesses that are looking to enter the Egyptian market or expand their operations in the country. Additionally, local businesses in Egypt will be empowered to expand internationally and create new jobs.

Flutterwave’s expansion into Egypt is part of the company’s broader international expansion strategy. The firm has made it possible for users to send money to Ethiopia via cash pickup, enabling Ethiopians in the diaspora to send funds home for collection at Dashen bank branches, Amole agents, and Ethiopian postal service offices.

Flutterwave’s CEO, Olugbenga GB Agboola, expressed pride in the company’s achievement, saying that the licenses demonstrate its commitment to providing first-class payment services and connecting businesses to their customers. The company’s Regional Manager in Expansion and Partnerships, Aalaa Gamal, said that the licenses marked the beginning of Flutterwave’s strategic wins in North Africa and the Middle East.