By Aduragbemi Omiyale
After it was cleared of any wrongdoing by the Asset Recovery Agency (ARA), Flutterwave said it’s now targeting ambitious growth in Kenya.
In July 2022, ARA accused Flutterwave and other organisations of financial fraud, but the company made efforts to clear its name. it has now been left off the hook.
“We are pleased to have this matter resolved so we can resume our work with our strategic partners in Kenya, providing innovative payment solutions to companies and individuals in one of Africa’s largest and most dynamic economies,” the chief executive of Flutterwave, Mr Olugbenga Agboola, said.
“The fintech sector in Africa, with its new entrants and accelerated pace of growth, attracts a considerable amount of scrutiny and, at times, suspicion.
“Given our own rapid growth and status as a first mover, we anticipate and welcome the opportunity to be transparent about our operations and cooperate with regulators,” he added.
Speaking further, Mr Agboola noted that, “We are looking forward to continuing with our mission to simplify payments for endless possibilities in Kenya.
“We will continue to be the payment partner of choice for any Kenyan business looking to start locally and grow globally and any foreign firm looking to expand their business in Kenya.”
Flutterwave is a payments technology company founded in 2016 with the mission to simplify transactions to accelerate international commerce and economic growth in Africa.
The firm has its headquarters in San Francisco and its main operating base in Lagos, with operations in over 30 African countries.
In a short period, Flutterwave has become a significant driver of commerce and economic growth in Africa, serving more than one million businesses and processing more than 400 million transactions worth over $25 billion since its inception.
Flutterwave supports thousands of jobs in Kenya, including Uber drivers, food vendors, and others that rely on the payment platform for their daily income.
