Flutterwave secures full license to empower businesses in Senegal
Flutterwave secures full license to empower businesses in Senegal
Flutterwave, Africa’s leading payments technology company, has obtained a Payment Institution (PI) licence from the Central Bank of West African States (BCEAO).
Africa’s financial landscape is evolving with the rise of digital payments. As more innovations emerge to facilitate payments beyond traditional banking methods, trade is becoming more efficient, accessible, and inclusive. This has driven significant economic growth within African countries. Senegal is a major contributor to this shift. With 28 per cent of adults using mobile money in Sub-Saharan Africa, Senegal accounts for a substantial portion of the market, propelling the expansion of digital payments across the continent.
With this licence, Flutterwave stated it will assist businesses in Senegal to grow by providing a full range of seamless digital payment services. It further demonstrates the company’s dedication to connecting Africa to the global economy through top-tier digital payment solutions.
Flutterwave’s fully licenced payments infrastructure enables businesses to efficiently manage collections and payouts, streamlining operations and supporting seamless scalability.
For small and medium-sized businesses in Senegal, Flutterwave offers flexible payment options, including mobile money and cards. Business owners can easily monitor transactions through a user-friendly dashboard and generate payment links for seamless sharing on platforms like WhatsApp and Instagram, thereby helping to eliminate traditional payment barriers and fuel growth.
Founder and CEO, Flutterwave, Olugbenga Agboola, said, “It’s necessary to make payments as easy as possible across Africa.
“The continent is brimming with business opportunities, and Senegal, like many other African nations, has the potential to be at the forefront, radically contributing to the growth of Africa’s digital economy. By reinforcing our commitment to delivering compliant, trusted, and flexible payment technologies for businesses in Senegal, we are actively powering a new financial future for the entire continent”.
Senior Vice President for Sales, West Africa, Bode Aregbesola, said, “We know firsthand the payment hurdles that frustrate business owners, from local businesses to large enterprises. At Flutterwave, we are set to provide secure technology and our extensive suite of products that directly solve these challenges, enabling them to unlock new revenue, manage payments effortlessly, and truly thrive as they scale within Senegal.”
This announcement follows Flutterwave’s recent commitment to providing licensed payment services in Cameroon. Operating in over 60 per cent of African countries, Flutterwave supports business growth and links Africa to the global economy with seamless payments.
