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Flutterwave has announced that it has received its Electronic Money Issuer and Remittance Licenses from the National Bank of Rwanda. This will help the company expand its operations in East Africa.

With these new licenses, in addition to being a Payment Service Provider, Flutterwave can offer money deposit and withdrawal, electronic funds transfer, as well as inbound and outbound remittance services to the 13.46 million people living and working in Rwanda, the company said in a statement sent to Financial Nigeria.

Flutterwave will be deploying a range of products in Rwanda, including Send by Flutterwave, its cross-border money transfer solution. Also available will be Flutterwave for Business and its suite of products, including Store, payment links, invoices, and checkout to help individuals and businesses in Rwanda make the most of the booming eCommerce market, the company said.

"From our first transaction to over 400 million now, we've remained committed to our vision of connecting all parts of Africa through payments and connecting Africa to the world,” said Olugbenga Agboola, founder and CEO of Flutterwave.