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Flutterwave, one of Africa’s leading payments technology companies, has secured a Payment Institution (PI) license from the Central Bank of West African States (BCEAO). According to the fintech company, the license has positioned Flutterwave to help businesses in Senegal scale by offering its full range of seamless digital payment services in the country. 

“It’s necessary to make payments as easy as possible across Africa,” said Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave. “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.”

Senegal represents a significant portion of the 28% of adults using mobile money in Sub-Saharan Africa, driving the growth of digital payments across the continent. Flutterwave said its fully licensed payments infrastructure will empowers businesses to efficiently manage collections and payouts, streamlining operations and enabling seamless scalability. 

Currently operating in 34 African countries, Flutterwave recently committed to offering licensed payment services in Cameroon. The company has processed over 890 million transactions in excess of $34 billion and serves global and African customers across various industries.