Tech

Bank of Ghana grants Flutterwave Payment Service Provider licence to operate in the country

Published

5 months ago

August 1, 2024

Ghana’s apex banking institution, the Bank of Ghana (BOG), has granted licence to Nigerian fintech, Flutterwave, for a Payment Service Provider (PSP)
operations in the country.

Olugbenga ‘GB’ Agboola, Founder & CEO of Flutterwave, who commented on the approval, said the payments technology company was granted an Enhanced Category of the PSP by the Bank of Ghana.

“This milestone marks a significant expansion of Flutterwave’s operations in Africa, enabling the company to offer a comprehensive suite of payment services directly within, and through Ghana,” Agboola said in a statement announcing the news.

“Ghana presents an exciting market for Flutterwave’s innovative solutions. With a stable democracy, a tech-savvy youth population, and a high mobile internet penetration rate of 71%, Ghana is well positioned for rapid digital adoption.

“The country’s digital payments market is projected to reach $7 billion in 2024, with an anticipated growth rate of 15.78%, resulting in a total value of $12.96 billion by 2028.

“When we started this journey, our goal was to unite the fragmented payment infrastructure in Africa, and securing this license in Ghana brings us a step closer to achieving that mission.

“At Flutterwave, we are committed to using our platform to promote economic growth to the nation, while also providing unparalleled service to all our prospective customers in Ghana and in the diaspora.

“The Payment Service Provider license (Enhanced Category) allows Flutterwave to operate without the need for third-party services, streamlining payment processes for businesses and customers alike.

“The Enhanced Category license further empowers Flutterwave to support other licensed fintech companies in Ghana by providing essential payment services, ultimately promoting a more integrated and efficient financial ecosystem.

“For potential customers in Ghana, Flutterwave’s license translates to more seamless and secure money transfers across the country.

“Businesses will benefit from direct collection and payout services, automated invoicing, payment links, and a checkout solution that supports multiple payment methods including cards, mobile money, and bank transfers,” he added.

Related Topics:Bank of Ghana Featured fintech Flutterwave

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Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

3 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

4 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation