02 April 2025

Flutterwave has obtained approval from the Central Bank of Ghana to offer inward remittance services. This significant development marks a vital step in Flutterwave’s mission to simplify payment processes across the continent.

The company highlighted the rapid growth of Ghana’s financial sector, noting its high mobile phone penetration and a dynamic mobile money ecosystem. Flutterwave emphasized that an impressive 60% of foreign exchange transactions in Ghana are conducted through mobile money platforms, underscoring their crucial role in the financial lives of many Ghanaians.

In addition to mobile money, Flutterwave pointed out the burgeoning sectors of insurtech, lend-tech, and buy now, pay later services, all contributing to a vibrant and diverse fintech landscape in Ghana. The company acknowledged that the supportive regulatory framework established by the Bank of Ghana, along with the Ghana Digital Agenda, has fostered an attractive environment for fintech innovation.

“Remittances play a vital role in the Ghanaian economy, and our goal is to make the process as seamless as possible for Ghanaians in the diaspora looking to send money home,” said Olugbenga Agboola, founder and CEO of Flutterwave.

Oluwabankole Falade, Flutterwave’s chief regulatory and government affairs officer, expressed gratitude to the Bank of Ghana for their support and conveyed excitement about the potential to expand services within the country. With this approval, Flutterwave positions itself to enhance financial inclusion and strengthen the remittance infrastructure in Ghana, further facilitating the flow of funds into the economy.