Flutterwave, a prominent African fintech company, is looking to establish Rwanda as a settlement hub for its payment operations in the region. Despite facing challenges in obtaining a payment provider license in Kenya, Flutterwave has acquired Electronic Money Issuer and Remittance licenses in Rwanda. The company sees Rwanda as a strategic market due to its readiness for foreign investment and its supportive regulatory environment. Other African fintech companies, such as MFS Africa, NALA, and ChipperCash, are also expanding their operations to Kigali, attracted by the country's regulatory reforms and ambitions to become an international financial center. Kigali has garnered support from entities in the Middle East and Southeast Asia, deepening its relationships with organizations like the Qatar Financial Centre, Jersey Finance from Britain, and Singapore's Monetary Authority. The city's International Financial Centre, launched in 2020, has made significant progress in creating a favorable business environment, leading to its recognition in global financial rankings.

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