Based on the reports that Flutterwave failed to apply for a licence in Kenya, Payment service providers, Flutterwave has said it submitted an application for it in 2019 and operates within the stipulated laws, regulations, industry standards, and guidelines.

In a statement, the fintech company stated that it has also been in constant engagement with the Central Bank of Kenya to ensure that it provides all the requirements.

“Our attention has been drawn to reports with regards to our operating licence in Kenya.

“Like many other financial technology service providers in Kenya, our entry into the market was through partnerships with banks and mobile network operators licensed by the Central Bank of Kenya.

“In 2019, as our operations grew, Flutterwave submitted its application for a Payment Service Provider licence. We have been in constant engagement with the Central Bank of Kenya to ensure that we provide all the requirements and we look forward to receiving our licence.

“We are committed to operating within the stipulated laws, regulations, and industry standards in Kenya.

“We are understanding and respectful of the Central Bank of Kenya’s responsibility to protect the payments ecosystem and we support the ongoing collaboration between regulators and fintech to create an atmosphere that fosters innovation in the financial services industry.”