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These new licenses enable Flutterwave to strengthen its operations in East Africa. In addition to being a Payment Service Provider, Flutterwave will now be able to offer money deposit and withdrawal, electronic funds transfer, as well as inbound and outbound remittance services to the 13.46m people living and working in Rwanda.
Olugbenga "GB' Agboola, Founder and CEO of Flutterwave, commented on the news, "From our first transaction to over 400 million now, we've remained committed to our vision of connecting all parts of Africa through payments and connecting Africa to the world. As a country well known for fostering innovation and promoting the use of digital technology, Rwanda has always been important to our expansion plans in East Africa. We are delighted for the vote of confidence in being granted these licenses. With them, we will leverage our extensive global reach and continuous growth in emerging markets to provide MSMEs in Rwanda with the tools they need to stimulate the economy, facilitate seamless cross-border transactions for Rwandans and support the expansion drive of global and Rwandan businesses."
