Flutterwave has officially secured a Payment System licence from the Bank of Zambia, marking a major step in its African expansion strategy. This approval allows Zambian businesses to access Flutterwave’s advanced payment solutions, enabling smooth local and international transactions.
With Zambia’s financial sector relying heavily on mobile money, which accounts for nearly 70% of financial inclusion, Flutterwave’s entry is set to accelerate digital transactions and business growth. The fintech giant’s secure and cost-effective payment technology empowers businesses to scale operations efficiently while reducing reliance on cash transactions.
Boosting Business Growth in Zambia
Zambian businesses can now use Flutterwave’s platform for mobile money collections and payouts, making financial processes more seamless. This move not only simplifies transactions but also strengthens digital financial services across the country. Additionally, international businesses looking to enter Zambia can now leverage Flutterwave’s robust payment infrastructure for easier local transactions.
By offering reliable cross-border payment solutions, Flutterwave ensures Zambian businesses can effortlessly collect payments from customers worldwide. This advancement fosters global business operations and economic growth in the region.
Strengthening Presence Across Africa
Flutterwave’s expansion into Zambia aligns with its mission to enhance digital payments across Africa. The company now operates in over 30 countries, continuously innovating to improve payment infrastructure on the continent.
Before entering Zambia, Flutterwave secured a Payment Service Provider licence in Ghana in August 2024, allowing independent operations and seamless payment processes. In June 2024, the company also obtained approval in principle for a payment aggregator licence in Mozambique, further solidifying its presence in Africa’s fintech landscape.
In 2021, Flutterwave partnered with MTN Group to enable mobile money payments across multiple African markets, including Zambia. This collaboration made it easier for businesses to accept payments via MTN Mobile Money (MoMo), boosting digital payment adoption.
As Africa’s digital economy continues to grow, Flutterwave’s strategic expansion reinforces its position as a leading fintech player. By bridging financial gaps and promoting economic inclusion, the company is shaping the future of digital payments across the continent.
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