Flutterwave Secures Payment System License in Zambia, Expanding Pan-African Reach

Flutterwave, one of Africa’s leading payment technology companies, has obtained a payment system license to operate in Zambia, marking a significant expansion of its Pan-African footprint. This regulatory approval enables the company to offer affordable and secure mobile money services to enterprises throughout the country.

The new license comes at a strategic time, as Zambia experiences increasing internet penetration and growing reliance on mobile money for daily transactions. Mobile money services currently contribute nearly 70% to the country’s financial inclusion rate, making it a critical component of the local financial ecosystem.

“Zambia is a market with enormous potential for growth and innovation, so we are excited to bring our payment solutions here,” said Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave. “Our goal is to provide businesses across the entire African region with the tools they need to compete not just locally but globally.”

Through Flutterwave’s mobile money collection and payout services, Zambian businesses will be able to streamline transactions, reduce operational costs, and scale operations in both domestic and international markets. The company’s platform will serve as a reliable gateway for international companies entering Zambia, while also helping local businesses expand globally through cross-border payment solutions.

Oluwabankole Falade, Chief Regulatory Officer at Flutterwave, emphasized the strategic importance of the license: “Acquiring the Payment System License in Zambia is a crucial step in our Pan-African expansion strategy. This license not only enables us to support Zambian businesses in their growth and global competitiveness but also ensures that our operations adhere to local regulations.”

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Flutterwave expressed gratitude to the Bank of Zambia for the opportunity to operate within the country’s financial ecosystem and committed to working closely with regulatory bodies to promote financial innovation and economic growth.

This expansion reinforces Flutterwave’s position as a trusted payment partner across Africa, now operating in over 30 countries across the continent. The company’s continued growth underscores its mission to simplify payments and unlock new opportunities for African businesses.