Flutterwave Expands Regional Reach with Full-Payment License in Senegal

Flutterwave has been granted a Payment Institution (PI) license by the Central Bank of the West African States (BCEAO), marking a significant milestone in its expansion across West Africa. With this license, the Nigerian-founded payments giant can now fully operate in Senegal, offering its complete suite of digital payment services—including collections, payouts, card payments, mobile money, and payment links, all accessible through a unified merchant dashboard.

Senegal represents a growing frontier in Sub-Saharan Africa’s fintech landscape, with 28% of adults using mobile money—a figure that mirrors broader regional trends. This expansion aligns with Flutterwave’s strategy to deepen presence across Francophone markets, following recent licensed entries into Cameroon, Zambia, Ghana, and Uganda.

According to Olugbenga “GB” Agboola, Flutterwave’s CEO, the goal is to “make payments as easy as possible across Africa,” by delivering “compliant, trusted, and flexible payment technologies” in Senegal. Echoing this sentiment, Bode Aregbesola, SVP for West Africa, affirmed that Flutterwave aims to address real payment challenges for both local businesses and large enterprises across the country.

With the PI license in place, Flutterwave’s platform empowers SMEs through a full range of digital tools: mobile money integration, card acceptance, payment links for social channels, and dashboard-driven transaction tracking . These capabilities significantly reduce friction for entrepreneurs and small businesses, enabling them to scale and operate efficiently in the growing Senegalese digital economy.

Flutterwave’s success in Senegal reflects a broader regulatory trend driven by BCEAO Instruction No. 001‑01‑2024. The initiative is part of a phased licensing process designed to bring fintechs under clearer supervision, supporting financial stability while enhancing innovation. Senegal, now removed from the FATF grey list, has led regional efforts in formalizing digital finance, making this new license particularly timely.

This announcement comes on the heels of Flutterwave’s move into Cameroon—boosting its reach across more than 30 African. As it expands its footprint, Flutterwave continues to serve top-tier clients, including Uber, Netflix, and Air Peace, while scaling local economies through enhanced financial inclusion and cross-border commerce.

Why It Matters for Africa

Flutterwave’s Senegal license underscores the fintech’s growing role as a pan-African payments bridge, particularly in Francophone West Africa, where regulatory harmonization and mobile money usage are on the rise. By enabling full digital payments for businesses—especially SMEs—Flutterwave advances financial inclusion, supports cross-border trade, and reinforces its infrastructure-led vision for Africa’s digital economy.