Monday, December 4, 2023

‘Africa is huge, potential huge’, Agboola speaks on Flutterwave public listing

The company also secured the first approval in its licensing journey to operate in Kenya.

• August 22, 2023
Olugbenga Agboola
Olugbenga Agboola [Credit; Daily Post Nigeria]

Founder of Africa’s leading fintech company, Flutterwave, Olugbenga Agboola, has described Africa’s business economy as a goldmine with huge potential waiting to be tapped.

Speaking with Bloomberg in London on Monday, Mr Agboola reiterated the company’s plan to go public in order to reach larger global clients.

“There’s some kind of customers we’ll attract when we are public. The large global clients who need you to have the same level of compliance and level of global view that they have.”

While expressing his confidence in Africa, Mr Agboola stated that the goal of the company is to make merchants and consumers in Africa use the platform more.

“The goal is to make merchants across Africa, consumers across Africa use us more and know that we are the most reliable platform to use. Africa is huge, the potential is huge.”

Flutterwave has witnessed an astronomical growth within the first and second quarters of 2023.

Its payment processing business through its payments app, SendApp, increased 23-fold in the first half of this year compared with the same period in 2022. Payments through point-of-sale devices rose more than fivefold and revenue in its small and medium business unit jumped almost fourfold.

The company also secured the first approval in its licensing journey to operate in Kenya.

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