EXPERTS KENYA Flutterwave wants to invest $50 million in Kenya 2 weeks ago Samuel Post Views: 118 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 EXPERTS UGANDA Afcon 2027 will be ‘amazing’ in East Africa, pledges Ugandan organiser 2 days ago Iwo Bulski BETTING KENYA Nairobi Businessman Wins KSh 2m SportPesa Jackpot 2 days ago Samuel EXPERTS WORLD NEWS From Retail to Online Casino in Africa: A Transformative Journey 2 days ago Iwo Bulski EXPERTS UGANDA Ugandan KRA and LGRB offices order online connection to the central monitoring system in 2024 3 days ago Iwo Bulski EXPERTS NIGERIA Betway Nigeria unveils exciting new experience center in Ojodu Berger, Lagos 3 days ago Szarlot EXPERTS GHANA Sports betting in Ghana, an industry whose time has come 4 days ago Samuel BETTING KENYA Ten new betting firms enter market within two months 4 days ago Samuel BETTING KENYA Team Capital FM in Action At the Casino Cup 6 5 days ago Szarlot KENYA ONLINE What kind of betting predictions are available to bettors in Kenya? 5 days ago Szarlot EXPERTS KENYA Tools Kenyan players can use instead of GamStop for responsible gambling 6 days ago Szarlot BETTING KENYA Beez FC Wins 13th Edition Of KOT 5 Aside Tournament 6 days ago Samuel EXPERTS KENYA Digital wallets as an enabler for financial services in Africa 1 week ago Szarlot 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.