Africa’s digital economy is valued at more than $180 billion yet moving money around the continent remains a major friction point. Payments on the continent are fragmented because each country has their own mobile money systems, licensing requirements, and regulators. Gabriel Ologunwa’s presentation at Moonshot of Flutterwave’s playbook on Cross-Border Payments, which was presented by Flutterwave’s Assistant Vice President for Global Expansion & Payments Partnership Gabriel Ologunwa explored how fragmentation creates challenges and opportunities.
According to the company, a $1 trillion untapped electronic payments market and $96.4 billion of annual remittances are proof that the scale is waiting to be unlocked if payment systems on the continent can align and work together. Fintechs that want to expand across Africa face a challenge. These startups must manage volatile exchange rates, integrate with different banks and card networks, and meet different licensing requirements to navigate Africa’s varied payment rails. Flutterwave’s business model eliminates these barriers by using a unified API that connects businesses with local payment infrastructure in Africa.
Flutterwave now has regulatory coverage in 34 African nations and licenses in United States, United Kingdom (EU), Canada, and India. This allows it to operate across jurisdictions. These licenses include Nigeria’s Switching and Processing License, South Africa’s Third-Party Payment Processor License (also known as the Payment Service Provider License), Egypt’s Payment Service Provider License, and the Payment System Licenses in Tanzania, Zambia, and other countries. Its impact is evident in the way global brands are now scaling in Africa.
Norafirst, a European fintech, used Flutterwave API to access more than 20 markets and grow transactions by 300% within six months. FuturePay, a firm that allows customers to pay now and then, integrated local payment methods, which led to a 60% increase in cart completion.
Flutterwave processed over $1 billion in payments for East Asian merchants during the first half 2025. Its virtual account volume grew by 198% on an annual basis. Flutterwave, a Nigerian-based and US-based payment company launched in 2016, was valued at $3 billion ( ) and had processed more than 200 million transactions by 2022.
