Flutterwave, Africa’s biggest fintech unicorn has announced that Nairobi, Kenya, will serve as its regional hub in East Africa.
This was made known by the company’s Chief Regulatory and Government Relations Officer, Oluwabankole Falade, during the 3rd American Chamber of Commerce (AmCham) Business Summit held in Nairobi.
The Summit, brought together the AmChams across East Africa, a senior U.S. government delegation, U.S. investors convened by the U.S. Department of Commerce, and the U.S. Chamber of Commerce’s Africa Business Center, and East African businesses and officials, to chart new paths for enhanced US commercial engagement with Kenya and the East Africa Region. More than 500 East African and American delegates participated.
“We recognize the invaluable role Kenya plays in the East African region, and the country’s business-friendly environment and digital capability,” said Oluwabankole Falade. “As a business with African roots, and headquartered in San Francisco, we are aware of the importance of empowering the small business owners, an objective shared by the Kenyan administration.”
The two-day program was anchored by U.S. Ambassador to Kenya Meg Witman, who delivered opening remarks on, ‘Why Africa, Why Kenya,’ and closed by President William Ruto who announced new measures to enhance U.S. trade and investment in the country including steps to support the Small and Medium Business Enterprises (SMEs) sector, a key segment of Flutterwave’s business.
Flutterwave was a sponsor of the AmCham event, and it is a board member of the U.S. Chamber of Commerce’s Africa Business Center as well as a member of AmCham in most markets in which it operates, including Kenya, Tanzania, Rwanda, Uganda, and Zambia.
Flutterwave’s strategy is well aligned with that of the East Africa region, ensuring that SMEs are provided with efficient, simple and affordable technology solutions that drive their businesses to profitability across borders.
Flutterwave’s key SME solutions, Flutterwave Store and Flutterwave Market, aim to support Kenya’s SME sector, which employs around 80 percent of Kenya’s population, creates 30 percent of jobs annually, and contributes 3 percent to its national GDP. Kenya offers Flutterwave a gateway into the region and to a customer base of about 476 million people as of 2023.
“We are also glad of the support we have received from the Government of Kenya, AmCham stakeholders and leadership across the region, and we are proud to have chosen to support the Summit and see many other global firms who we work with such as Amazon and Uber choosing to settle here as well. We are in good company,” closed out Mr. Falade.
