Flutterwave secures Senegal approval to offer digital payments

By Nhlanhla Muthe

Nigerian fintech giant Flutterwave has secured a Payment Institution License from the Central Bank of West African States, allowing it to fully operate in Senegal and offer seamless digital payment services to local and international businesses.

Flutterwave founder and CEO Olugbenga Agboola.

Flutterwave, the Nigerian-founded fintech unicorn led by tech billionaire Olugbenga Agboola, has secured a key Payment Institution License to power digital payments across Senegal.

The Central Bank of West African States (BCEAO) approval marks another milestone in the company’s Pan-African expansion strategy and reinforces its ambition to become the continent’s leading digital payments enabler.

The Lagos- and San Francisco-based company can now offer its entire suite of digital payment services to Senegalese businesses, allowing them to process local and international transactions with ease. From mobile money collections to seamless payouts and e-commerce integrations, Flutterwave’s entry into Senegal is expected to boost digital commerce in one of West Africa’s fastest-growing markets.

“Senegal has the potential to be at the forefront of radically contributing to Africa’s growth story, It’s necessary to make payments as easy as possible across Africa, and this license is critical to achieving that mission,” said Agboola. “

The development comes amid rapid adoption of mobile money and digital financial services across sub-Saharan Africa. According to the World Bank, nearly 28% of African adults now use mobile money services. Senegal is increasingly seen as a digital payments hub within the West African Economic and Monetary Union, thanks to rising smartphone use, strong mobile money platforms, and a connected youthful population.

Agboola emphasised that Flutterwave’s arrival provides businesses in Senegal with a trusted, secure, and scalable payment infrastructure. It also supports international enterprises eyeing entry into the Francophone market, with localised tools and compliance capabilities.

The company’s client list already includes global brands such as Uber, Netflix, and Air Peace. With operations in over 40 African countries and more than 800 million transactions processed to date, Flutterwave is well-positioned to lead Africa’s transition to a digitally integrated economy.

“This is not just about expansion. It’s about connecting Africa, market by market, through secure, reliable, and transformative payment solutions,” he said.