Kenya's Assets Recovery Agency (ARA) had plans to withdraw its second case against African fintech giant Flutterwave, which involved the freezing of $3 million on suspicion of money laundering and fraud. However, the High Court rejected the request for withdrawal. The judge noted that the ARA, being a public-funded body, failed to provide reasons for the withdrawal, including details of any negotiations or settlements. The agency had accused Flutterwave's bank accounts of being used for money laundering, but the judge questioned the lack of evidence for the alleged crime. The ruling may further delay Flutterwave's prospects of obtaining a license to operate in Kenya. Flutterwave, a cross-border payment facilitator, has faced several controversies, including claims of harassment, misappropriation of funds, and mismanagement.

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