Flutterwave has reacted to reports with regards to its operating licence in Kenya. The company said like other financial technology service providers, its entry into the market was through partnerships with banks and mobile network operators licensed by the Central Bank of Kenya.
“In 2019, as our operations grew, Flutterwave submitted its application for a Payment Service Provider licence”, a statement reads.
“We have been in constant engagement with the Central Bank of Kenya to ensure that we provide all the requirements and we look forward to receiving our licence.
“We are committed to operating within the stipulated laws, regulations and industry standards in Kenya.
“We are understanding and respectful of the Central Bank of Kenya’s responsibility to protect the payments ecosystem.”
Flutterwave assures it supports the ongoing collaboration between regulators and fintechs to create an atmosphere that fosters innovation in the financial services industry.