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CBK warns Flutterwave and Chipper Cash not licensed to operate in Kenya
The Nigerians said in a petition that they were swindled of billions of shillings through a sports betting platform that used Flutterwave to process the payments. PHOTO | POOL
The Central Bank of Kenya (CBK) has said payments fintech Flutterwave and Chipper Cash are not licensed to operate in Kenya in what could be a major blow to the two fast-rising African startups.
CBK governor Patrick Njoroge while responding to questions during Wednesday’s Monetary Policy Committee (MPC) meeting said the two firms are not allowed to operate remittance businesses or offer payment services to merchants in the country.
