Flutterwave, a leading payments technology company originating from Nigeria, has recently secured a Payment Institution (PI) license from the Central Bank of West African States (BCEAO).
With the BCEAO license, Flutterwave is positioned to help businesses in Senegal scale by offering its full range of seamless digital payment services.
It further demonstrates the company’s commitment to connecting Africa to the global economy through world-class digital payment solutions.
This is coming a few weeks after it received approval from Ghana’s Central Bank to provide inward remittance services in the country.
Africa’s financial landscape is transforming with the rise of digital payments. As more innovations emerge to facilitate payments beyond traditional banking methods, trade is becoming more efficient, accessible, and inclusive.
This has led to major economic growth within African countries. Senegal is a large contributor to this shift. With 28% of adults using mobile money in Sub-Saharan Africa, Senegal represents a significant portion of the market, driving the growth of digital payments across the continent
Flutterwave’s fully licensed payments infrastructure empowers businesses to efficiently manage collections and payouts —streamlining operations and enabling seamless scalability.
For small and medium-sized businesses in Senegal, Flutterwave offers flexible payment options such as mobile money and cards.
Business owners can easily track transactions through a user-friendly dashboard and create payment links for seamless sharing on platforms like WhatsApp and Instagram—helping to break down traditional payment barriers and drive growth.
“It’s necessary to make payments as easy as possible across Africa,” said founder/CEO of Flutterwave, Olugbenga ‘GB’ Agboola. “The continent is brimming with business opportunities, and Senegal, like many other African nations, has the potential to be at the forefront, radically contributing to the growth of Africa’s digital economy. By reinforcing our commitment to delivering compliant, trusted, and flexible payment technologies for businesses in Senegal, we are actively powering a new financial future for the entire continent”.
Flutterwave’s Senior Vice President for Sales, West Africa, Bode Aregbesola, said: “We know firsthand the payment hurdles that frustrate business owners, from local businesses to large enterprises. At Flutterwave, we are set to provide secure technology and our extensive suite of products that directly solve these challenges, enabling them to unlock new revenue, manage payments effortlessly, and truly thrive as they scale within Senegal.”
This announcement follows Flutterwave’s recent commitment to offering licensed payment services in Cameroon.
Currently operating in over 60% of African countries, Flutterwave enables business growth and connects Africa to the global economy with seamless payments.
