Olugbenga Agboola, founder and CEO of Flutterwave.

Pan-African fintech, Flutterwave has received a Payment System License from the Bank of Zambia to expand operations to the Southern African country.

The fintech says the Zambian market is brimming with opportunity because of its growing digital landscape and its evolving payments ecosystem fuelled by growing internet access.

With Zambia’s digital payments market expected to reach $6.7 billion this year, according to Flutterwave, the company is looking to enable seamless payments for Zambian businesses to accept payments from their local and international customers.

Customers can process single and bulk payouts to their partners and employees. Additionally, Flutterwave says it is open to providing a gateway for international companies who are looking to expand and tap into the Zambian market.

“Zambian businesses will now be able to handle payments more seamlessly and expand their reach both locally and internationally. Zambia holds so much promise, and I believe in its potential to compete on the global stage,” said Olugbenga Agboola, founder and CEO of Flutterwave.

The company’s chief regulatory officer, Oluwabankole Falade added, “With this milestone, businesses in Zambia can now access secure, affordable, and innovative payment solutions to seamlessly serve local customers and scale globally. This expansion aligns with our mission to simplify payments across Africa, empowering businesses to grow and thrive in the digital economy.”