EXPERTS KENYA Flutterwave wants to invest $50 million in Kenya 2 years ago Samuel Post Views: 313 Olugbenga Agboola, CEO, and Co-founder of Flutterwave, has disclosed that the fintech plans to invest $50 million in Kenya. This significant move comes as a continuation of their expansion strategy into the East African market, initially announced in April 2023. Why it matters: Flutterwave’s journey into the East African nation has been riddled with several challenges. The company’s accounts have been frozen multiple times in Kenya, first in 2022 over money laundering claims and again in June 2023 over a betting fraud claim. However, those claims have now been settled and the money frozen in the company’s accounts has been released. Currently, Flutterwave is expanding its office in Kenya which will serve as the headquarters for its East African operations. The fintech startup plans not only to open a new office in Kenya but also to bolster its infrastructure and workforce in the country. Currently, Flutterwave employs 27 individuals in Kenya, but this investment signals their intention to scale up significantly. Know more: Flutterwave is also in the process of securing essential licences, including a payments service provider licence and a remittance licence in Kenya. These licences will enable the company to facilitate electronic funds transfers, money deposits, and withdrawals, enhancing its financial services offerings. Last month, Flutterwave received name approval from the Central Bank of Kenya (CBK). Recall that in July 2022, CBK said Flutterwave [and Chipper Cash] were not licensed to operate in the country. Source: benjamindada.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: Flutterwave, investment, Kenya Continue Reading Previous Exploring OdiBets: A Game-Changer In Kenyan Sports BettingNext Xprizo partners with African payments provider M-Pesa More Stories BETTING KENYA Gambling advertising in Kenya banned for one month by the BCLB 4 hours ago Samuel EXPERTS KENYA Kenyan Regulator Cracks Down On Betting Ads 1 day ago Samuel EXPERTS KENYA How is the iGaming market developing in Kenya? 1 day ago Szarlot BETTING HOT NEWS KENYA Monthly Betting Budget Surpasses KSh 65K for High Spenders in Kenya-Survey 2 days ago Samuel INTERVIEWS KENYA Kenya’s Just Getting Started: AGOK’s Sasa Krneta on Growth, Trust, and Tech 2 days ago Samuel BETTING KENYA The addictive betting game pushing Kenyans into debt 2 days ago Samuel EXPERTS SOUTH AFRICA Binance Strengthens Compliance Requirements for Crypto Transfers in South Africa 5 days ago Szarlot EXPERTS SOUTH AFRICA Software giant Oracle names SOFTSWISS Deputy CTO the best in Africa with SA as launchpad 6 days ago Iwo Bulski EXPERTS KENYA State Forms Rapid Response Team to Tackle Gambling: “It’s a Silent Epidemic” 6 days ago Szarlot EXPERTS UGANDA Finance ministry unveils tax amendment bills for Fiscal Year 2025-2026 1 week ago Samuel KENYA ONLINE Kenyans raise alarm over betting scheme sending many youths to early graves 1 week ago Szarlot BETTING HOT NEWS KENYA Nearly Sh1 trillion is gambled in a year, figure keeps growing 1 week ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.