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Flutterwave's ~$51 million released by Kenyan authorities

Flutterwave's ~$51 million released by Kenyan authorities

#finance
#fintech
#finance
#payments
Kenyan authorities have unfrozen KSh6.6 billion (~$51 million) belonging to African fintech unicorn, Flutterwave.

Kenyan Assets Recovery Agency (ARA) has withdrawn its money laundering allegations against African fintech unicorn, Flutterwave, which means that the KSh6.6 billion (~$51 million) that was frozen in the company's account will now be released. Flutterwave's CEO, Olugbenga Agboola, recently visited Kenya to meet with the Central Bank of Kenya (CBK) and was informed that the company could reapply for a money remittance and payments service provider license. Flutterwave has also made internal changes to strengthen its risk and governance and has hired Emmanuel Efenure from Mastercard as VP and Head of Risk for Africa.


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