Flutterwave, the foremost payments technology firm in Africa, has revealed its decision to establish its East African regional headquarters in Nairobi, Kenya. This announcement arrives just a month after the company obtained two additional licences to broaden its operations in Rwanda.
The payment company, few months ago, faced accusations of money laundering, leading to the freezing of its accounts in Kenya. The company consistently denied these allegations, asserting that the claims were entirely false.
The withdrawal of charges, as confirmed in a Kenyan High Court document, further solidifies the company’s commitment to operating transparently and ethically in the region.
With these legal hurdles now behind them, Flutterwave can continue to focus on expanding its presence in East Africa and supporting the growth of small and medium-sized enterprises.
Oluwabankole Falade, Flutterwave’s Chief Regulatory and Government Relations Officer, unveiled the news about its East African regional headquarters during the third American Chamber of Commerce (AmCham) Business Summit in Nairobi last week.
The event attracted over 500 delegates from East Africa and the United States, featuring AmCham representatives from across East Africa, a high-level US government delegation, US investors organised by the US Department of Commerce, the US Chamber of Commerce’s Africa Business Centre, and numerous East African businesses and officials.
Falade emphasised Kenya’s crucial role in the East African region and praised the nation’s business-friendly environment and digital capabilities. He explained that, as an African-rooted company headquartered in San Francisco, Flutterwave recognises the significance of supporting small business owners, a goal shared by the Kenyan government.
US Ambassador to Kenya Meg Witman and President William Ruto bookended the two-day summit with their remarks. Witman opened the event with a talk titled ‘Why Africa, Why Kenya’, while Ruto concluded the conference by announcing new initiatives to boost US trade and investment in Kenya, including measures to aid the small and medium enterprises (SMEs) sector, a primary focus for Flutterwave.
As a sponsor and board member of the US Chamber of Commerce’s Africa Business Centre, Flutterwave actively participates in AmCham initiatives in several markets where it operates, including Kenya, Tanzania, Rwanda, Uganda, and Zambia.
The company’s strategy aligns seamlessly with the East African region’s goals, ensuring that SMEs have access to efficient, user-friendly, and cost-effective technological solutions that promote cross-border business profitability.
To support Kenya’s SME sector, which employs approximately 80% of the country’s population, generates 30% of annual job growth, and contributes 3% to the national GDP, Flutterwave offers key solutions like Flutterwave Store and Flutterwave Market. Kenya provides a strategic entry point for Flutterwave into the East African region, granting access to an estimated customer base of 476 million people as of 2023.
In his closing statement, Falade expressed gratitude for the support Flutterwave has received from the Kenyan government, AmCham stakeholders, and regional leadership.
He took pride in the company’s decision to back the summit and noted that other global corporations, such as Amazon and Uber, have also chosen to establish themselves in Kenya, affirming that Flutterwave is in esteemed company.