Flutterwave is exploring the acquisition of a bank in East Africa as it pushes beyond payments into banking, chief executive Olugbenga Agboola told The Africa Report.
The move builds on the fintech’s acquisition of a microfinance banking licence in Nigeria earlier this year through its purchase of open banking startup Mono. Now, Flutterwave is looking to replicate that strategy across the continent.
Kenya, Ghana, Rwanda, Egypt, and Tanzania are among the markets under consideration. Depending on regulatory requirements, Agboola said the company could acquire a bank, partner with one, or apply for a licence.
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Last updated: August 3, 2026
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