Flutterwave, Africa’s leading payments technology company, has secured a Payment Institution (PI) license from the Central Bank of West African States (BCEAO), granting it full operational status in Senegal. This milestone, announced via the company’s official blog, reinforces Flutterwave’s commitment to building a more connected and inclusive digital economy across Africa.
With this license, Flutterwave can now offer its complete suite of payment solutions to businesses in Senegal—enabling efficient collections, payouts, and online transactions. Small and medium-sized enterprises (SMEs) can leverage tools like mobile money, card payments, custom payment links, and an intuitive dashboard for seamless transaction monitoring and management.
Senegal is part of the broader digital finance boom across Sub-Saharan Africa, where mobile money usage among adults stands at 28%. Flutterwave’s expansion is designed to empower local businesses, improve financial inclusion, and foster sustainable economic growth. According to Olugbenga “GB” Agboola, Founder & CEO of Flutterwave:
“It’s necessary to make payments as easy as possible across Africa. Senegal, like many African nations, holds immense potential to radically contribute to the continent’s digital transformation. By delivering trusted, compliant, and scalable payment solutions, we are helping power a new financial future for Africa.”
The move allows businesses in Senegal to streamline their financial operations, reach broader audiences, and unlock new revenue streams through Flutterwave’s secure and reliable infrastructure. The license also follows Flutterwave’s recent expansion into Cameroon, reinforcing its ambition to lead Africa’s payment revolution. The company already operates in over 60% of African markets and serves global clients such as Uber, Netflix, and Air Peace.
Africa’s digital payments industry is expected to grow rapidly, driven by increasing smartphone usage and the demand for secure, convenient payment systems. Flutterwave’s entry into Senegal signals confidence in the region’s potential and highlights its role in advancing Africa’s digital transformation.
Conclusion
Flutterwave’s licensing in Senegal marks a strategic win for both the company and the broader digital payments landscape. With its robust suite of services, Flutterwave is set to help Senegalese businesses grow, scale, and participate more fully in the continent’s evolving financial ecosystem.
