Flutterwave, the largest fintech company in Africa, is set to make a significant impact in Kenya with a planned investment of $50 million.
This move comes as the company awaits regulatory approval from the Central Bank of Kenya (CBK).
The investment will be channelled towards hiring new staff and scaling up Flutterwave’s infrastructure within the country.
Flutterwave’s CEO, Olugbenga Agboola, expressed optimism about the prospects in Kenya and confirmed that they already have over two dozen staff members in the country ready to commence operations once the license is granted.
“We are looking at investing not less than $50 million. We are employing people. We are getting a new office and scaling up our infrastructure. There is a lot to do in Kenya,” said Mr Agboola.
“We are happy we are going through the process – of approval. We didn’t chicken out. We stayed the course even when everything stopped. The current administration is very supportive.”
As a payments technology company, Flutterwave provides a platform for businesses to accept payments both online and offline. The company has already raised over $420 million in funding and boasts a valuation of over $3 billion. This planned investment in Kenya further underscores Flutterwave’s commitment to expanding its footprint and impact across Africa.