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Kenyan authorities withdraw financial impropriety case against Flutterwave

Authorities had accused Flutterwave of failing to comply with Kenya’s financial regulations.

• February 4, 2023
Flutterwave
Flutterwave

Kenyan authorities have withdrawn the allegations of money laundering and corruption levelled against Flutterwave, one of Africa’s largest fintech startups.

According to a Kenyan High Court document that Bloomberg saw and that Flutterwave’s lawyer Robert Gitau confirmed, the charges have now been dropped.

In July 2022, Peoples Gazette reported that the East African government froze the financial assets of Flutterwave going up to $56.7 million after filing criminal charges against the pan-African payment solutions firm.

The firm was accused of conducting suspicious transactions and failing to comply with financial regulations in Kenya.

The fintech startup has become prolific in recent years as an African success story in providing modern solutions to the continent’s underdeveloped financial services sector.

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