Africa’s leading payments technology company, Flutterwave, has officially secured a  License to operate in Zambia, marking a significant step in its Pan-African expansion. 

This move reinforces Flutterwave’s mission to simplify digital transactions across the continent and foster financial inclusion.

Zambia’s financial ecosystem is heavily reliant on mobile money, which accounts for nearly 70% of the country’s financial inclusion rate. With internet penetration on the rise and a growing demand for seamless payment solutions, Flutterwave’s entry into the market is expected to transform how businesses process transactions locally and internationally.

Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, emphasized the company’s commitment to empowering businesses across Africa. “Zambia is a market with enormous potential for growth and innovation. Our goal is to provide businesses across the entire African region with the tools they need to compete not just locally but globally.“ he said.

Flutterwave’s services will enable faster and more cost-effective transactions for Zambian enterprises, enhancing their ability to scale and compete in global markets. The company’s mobile money collections and payout services will support businesses across various sectors, from retail to e-commerce and beyond.

Oluwabankole Falade, Flutterwave’s Chief Regulatory Officer, highlighted the strategic importance of the new license. “Acquiring the Payment System License in Zambia is a crucial step in our Pan-African expansion strategy.

“This license allows us to not only support Zambian businesses in growing and competing globally but also to ensure that our operations are in full compliance with local regulations. 

“We are deeply grateful to the Bank of Zambia for their trust and for the opportunity to work within Zambia’s financial ecosystem. We are committed to collaborating closely with the Bank of Zambia and other regulatory bodies to promote financial innovation and drive economic growth.” he stated.

For international businesses looking to enter Zambia, Flutterwave offers a secure and efficient payment gateway that streamlines transactions for both consumer and business-to-business payments. 

Additionally, Zambian businesses will benefit from cross-border payment solutions that facilitate transactions with customers in the diaspora and other international markets.

With a presence in over 30 African countries, Flutterwave continues to position itself as a leading force in digital payments. Its expansion into Zambia underscores its broader vision of driving financial innovation and economic growth across the continent.