Flutterwave, Africa’s largest fintech company, has announced plans to invest $50 million in Kenya once it receives regulatory approval from the Central Bank of Kenya (CBK).
The investment will be used to hire new staff and scale up Flutterwave’s infrastructure in Kenya. Flutterwave CEO says they already have over two dozen staff in Kenya.
“We are very optimistic about Kenya and once we get the license, our team in the country is ready to deploy the very next day,” said Flutterwave CEO Olugbenga Agboola.
The CBK has not yet granted Flutterwave a license to operate in Kenya. However, Agboola said that he is confident that the company will receive approval soon.
“We are happy we are going through the process of approval,” he said. “We didn’t chicken out. We stayed the course even when everything stopped. The current administration is very supportive.”
Flutterwave is a payments technology company that provides a platform for businesses to accept payments online and offline. The company has raised over $420 million in funding and is valued at over $3 billion.