Flutterwave has obtained approval from the Bank of Ghana to offer inward remittance services, reinforcing its commitment to enhancing financial transactions in Africa. The approval comes amidst a rapidly evolving fintech landscape in Ghana, characterized by high mobile money usage. Flutterwave aims to provide seamless remittance solutions that support financial inclusion and economic growth.
Flutterwave, a prominent payments technology company in Africa, has received approval from the Bank of Ghana to offer inward remittance services in the country. This achievement underscores Flutterwave’s commitment to enhancing payment solutions across Africa, facilitating seamless financial transactions for users.
The fintech scene in Ghana is rapidly developing, driven by widespread mobile phone usage and a thriving mobile money ecosystem. Notably, mobile money platforms account for 60% of foreign exchange transactions, indicating their vital contribution to the financial activities of Ghanaians. In addition to mobile money, sectors such as InsurTech, LendTech, and Buy Now, Pay Later (BNPL) are flourishing, highlighting the diverse opportunities within the fintech space.
A supportive regulatory framework from the Bank of Ghana and the Ghana Digital Agenda promotes innovation in the fintech industry. Flutterwave’s recent service approval aligns with these favorable conditions, allowing Ghanaians to access fast and secure remittance services efficiently and affordably.
Olugbenga ‘GB’ Agboola, Flutterwave’s Founder and CEO, emphasized the significance of this approval, stating that it marks a vital step towards making remittance processes more straightforward for Ghanaians abroad sending money back home. He reinforced the company’s commitment to fostering financial inclusion and boosting economic growth in Africa.
Oluwabankole Falade, Chief Regulatory and Government Affairs Officer at Flutterwave, remarked on the company’s adherence to regulatory standards and its dedication to providing tailored payment solutions for the Ghanaian market. He expressed gratitude to the Bank of Ghana for their support while anticipating the expansion of services in the region.
Flutterwave’s recent approval for remittance services in Ghana represents a significant advancement in enhancing financial transactions across the region. As Ghana’s fintech landscape continues to evolve, with a strong mobile money presence, Flutterwave is positioned to contribute to economic growth and financial inclusion in Africa. This milestone not only reinforces regulatory compliance but also highlights the company’s focus on meeting the diverse needs of the Ghanaian market.
Original Source: ffnews.com
