By Biodun Busari

Nigerian financial technology giant, Flutterwave has said it submitted an application to the Kenyan government for a license to operate in the East African country.

Flutterwave disclosed this on Friday in a press release to react to The Central Bank of Kenya (CBK) alleging that Flutterwave and Chipper Cash are not licensed to operate in Kenya as remittance operators and payment services.

The fintech company in the statement titled “We submitted application for a licence in Kenya since 2019”, said it entered the Kenyan market via collaborations with banks and mobile network operators licensed by the Kenyan apex bank.

The statement said: “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.”

Flutterwave, then, said it is committed to operate within the confines of the laws and rules guiding fintech industry in Kenya.

“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 fintechs to create an atmosphere that fosters innovation in the financial services industry,” it added.