Flutterwave (www.Flutterwave.com), a leading payments technology company, has received a Payment Systems Operator (PSO) license from the Bank of Uganda. This marks a key milestone in Flutterwave’s expansion across Africa, adding Uganda to its growing list of countries where it operates.
Uganda’s digital payment landscape is transforming, driven by a youthful and vibrant population — over 78% (https://apo-opa.co/3AHL6ti) of its citizens are under the age of 35. This demographic presents an unprecedented opportunity to advance economic growth through enhanced financial inclusion and digital innovation.
Founded in 2016, Flutterwave has emerged as a cornerstone of Africa’s digital economy, with a mission to simplify payments for endless possibilities. Leveraging its advanced technology and deep understanding of African markets, Flutterwave offers a comprehensive suite of payment solutions tailored to the country’s unique needs. From mobile money integration — crucial for Uganda’s predominantly mobile-first population — to seamless cross-border payment capabilities, Flutterwave is uniquely positioned to bridge the gap between Uganda and the global economy.
With the PSO license, Flutterwave will offer payout services for disbursing funds like salaries and commissions, invoicing solutions for easy tracking and payment collection, and mobile money integration to provide convenient and accessible payment options for Ugandans. The license will also streamline fund transfers and payment collections across diverse customer segments and locations in Uganda, enabling businesses to benefit from efficient, reliable, and tailor-made payment solutions through either Flutterwave for Business or SendApp.
Commenting on the license approval, Olugbenga ‘GB’ Agboola, Founder&CEO of Flutterwave, said, “Securing this license in Uganda is a significant step towards realising our vision of a financially connected Africa. At Flutterwave, we believe that the future of Africa lies in its ability to seamlessly connect its people, businesses, and economies through technology. We are excited to contribute to this journey, empowering Ugandan businesses and individuals to harness the full potential of digital payments and drive inclusive growth.”
Oluwabankole Falade, Chief Regulatory Officer at Flutterwave, added: “The acquisition of this license further solidifies our standing as a leading payment technology service provider in Africa. We are deeply committed to adhering to all regulatory requirements and maintaining a strong relationship with the Bank of Uganda to ensure our services remain safe, secure, and beneficial to the Ugandan people.”
Flutterwave’s entry into Uganda follows its recent acquisitions of payment licenses in Ghana and Mozambique, further expanding its footprint and enhancing its ability to offer seamless and secure payments across the continent.
Distributed by APO Group on behalf of Flutterwave.
For additional information on Flutterwave or interview requests, please contact Hudson Sandler at flutterwave@hudsonsandler.com
About Flutterwave
Flutterwave is the leading payments technology company that enables businesses worldwide to expand their operations in Africa and other emerging markets through a platform that enables local and cross-border transactions via one Application Programming Interface (API). Flutterwave has processed over 630M transactions in excess of USD $31B and serves global and African customers like Uber, Air Peace, Bamboo, PiggyVest, and across various industries. The company’s key advantage is connecting businesses to various local and international payment types to enable them to expand globally. It also enables cross-border transactions from the diaspora to African countries via its SendApp product. Flutterwave processes payments via multiple payment modes, including local and international cards, mobile wallets, bank transfers, and Google Pay. The company has an infrastructure reach in 34 African countries. For more information on Flutterwave’s journey, please visit www.Flutterwave.com.
