Flutterwave Strengthens Ghana Operations with Inward Remittance Service Approval
Flutterwave has received approval from the Bank of Ghana to provide inward remittance services, underscoring its commitment to enhancing payment processes across Africa. The growing fintech environment in Ghana, coupled with robust mobile money usage, supports this initiative.
Flutterwave, Africa’s premier payments technology firm, has recently secured approval from the Bank of Ghana to offer inward remittance services in Ghana. This significant achievement enhances Flutterwave’s commitment to facilitating payments across the African continent, fostering economic opportunities and simplicity in transactions.
Ghana’s fintech sector is rapidly advancing, characterized by impressive mobile adoption and a vibrant mobile money ecosystem. Currently, 60% of foreign exchange transactions occur through mobile money platforms, indicating their crucial impact on the financial activities of Ghanaians. Furthermore, sectors such as InsurTech, LendTech, and Buy Now, Pay Later (BNPL) are also witnessing significant growth, indicating a dynamic marketplace.
The regulatory framework established by the Bank of Ghana and the Ghana Digital Agenda has bolstered the environment for fintech innovation. Flutterwave’s new service approval aligns seamlessly with these developments, ensuring efficient, safe, and cost-effective remittance options for Ghanaians.
Founder and CEO of Flutterwave, Olugbenga ‘GB’ Agboola, expressed enthusiasm over the approval, stating the significance of remittances in Ghana’s economy. The aim is to create a seamless experience for diaspora Ghanaians wishing to send money home, reinforcing Flutterwave’s dedication to promoting financial inclusion and economic progress across Africa.
Furthermore, Oluwabankole Falade, Chief Regulatory and Government Affairs Officer at Flutterwave, highlighted the company’s commitment to adhering to regulatory standards and providing payment solutions specific to Ghana’s unique market needs. He expressed gratitude to the Bank of Ghana for its continued support as Flutterwave expands its service offerings in the region.
In summary, Flutterwave’s approval for inward remittance services in Ghana marks a pivotal advancement for the company and the Ghanaian fintech landscape. The booming mobile money sector and the supportive regulatory framework create a fertile ground for innovation, facilitating financial inclusion and economic development. Through these efforts, Flutterwave aims to enhance the remittance process for Ghanaians, further contributing to the country’s economic growth.
Original Source: ffnews.com
