Flutterwave Secures Payment Institution License to Expand Seamlessly into Senegal’s Booming Digital Economy

Flutterswave, a main fintech company providing payment infrastructure to global merchants, has officially obtained a license in payment institution from the Central Bank of States Africans (BCEAO).

This regulatory step authorizes the company to operate fully in Senegal, allowing it to deliver its full suite of secure, seamless and reliable payment solutions to companies across the country.

With this license, Flutterswave is now positioned to support both local businesses and international companies seeking to enter one of the most dynamic and promising economies in Africa. Traders can now take advantage of Flutterwave infrastructure to offer customers their locally and worldwide and worldwide payment options.

While Senegal is known for its rich cultural heritage, the country has experienced remarkable growth in the adoption of mobile money. Between 2013 and 2023, the number of mobile funds recorded across West Africa has doubled, Senegal standing out alongside Nigeria and Ghana as key engines of this growth. Use increased from only 6% of adults in 2014 to around 45% in 2021, exceeding traditional bank accounts (28%).

According to Statita, the total value of transactions on the Digital Payment Market in Senegal is expected to reach 3.08 billion US dollars in 2025, projections estimating an increase at 8.15 billion US dollars by 2030, driven by an annual growth rate of 21.46%.

Three key factors contribute to this rapid development:

• A young population, with 74% under 40

• Solid penetration on the Internet, currently 60% – among the highest in West Africa

• Widespread use of mobile money, with platforms like Wave, Orange Money and Free Money overlooking the financial landscape

This digital transformation rationalizes not only individual transactions, but also allows trade at all levels of local markets to formal businesses, making payments more inclusive and accessible.

Flutterwave’s strategic expansion in Senegal

Flutterwave’s expansion in Senegal is more than a geographical movement; It is a commitment to accelerate digital trade in West Africa thanks to a compliant, scalable and localized payment infrastructure. The company aims to feed the momentum of the region by offering solutions adapted to growth, innovation and inclusion.

For global and Pan -African companies, this license opens up new opportunities. Senegal offers a robust mobile monetary infrastructure, access to the commercial union of the economic and monetary west (WAEMU) and an increasing electronic trade market. In fact, 50% of the population has made digital payment in the past year, highlighting the growing adoption of consumers.

Companies operating or developing in Senegal now have access to Flutterwave’s full payment capacity, in particular:

•Payment collection: Acceptance of local and international payments via popular methods such as mobile money (wave, orange money) and cards (visa, mastercard, etc.)

•Transparent payments: Sending simple or bulk payments in CFA Francs (XOF) with bank accounts and mobile silver wallets

•Robust API integration: Companies can use Flutterwave APIs, cash solutions or electronic commerce plugins (for example, WooCommerce, Shopify) to improve customer payment experiences

•Tools without code: Companies can generate and share payment links and invoices without writing a single line of code. Companies are ideal for freelancers, small businesses and digital sellers

•Intuitive dashboard: Companies can manage transactions, follow reports and supervise the activity of the team via the convivial fluerswave for the business dashboard

While Flutterswave deepens its presence across Africa, the company continues to consolidate its connection mission in Africa to the global economy thanks to reliable, accessible and innovative payment solutions. Senegal is now part of its operational network, Flutt is well positioned to support the continent’s continuous digital and financial transformation.