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  If you run a business in Nigeria, you will agree with me that it is very tough expanding beyond your local borders. You have so many barriers including currency restrictions that could limit your vision for scaling globally.
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However, Flutterwave, Africa’s leading fintech company, is breaking down those barriers in a massive way. The company recently announced that it has now expanded its reach to over 35 countries and now supports 150+ currencies worldwide. In addition, Flutterwave has secured key payment licenses across Africa, making it one of the most licensed payment companies on the continent. This significant growth means one thing – businesses in Nigeria and Africa, of all sizes can now sell and collect payments effortlessly across multiple regions. Also, businesses using Flutterwave can operate legally and securely, without fear of regulatory issues.

But what does this mean for Nigerian businesses?

For years, one of the challenges Nigerian entrepreneurs have struggled with is that of international transactions. There are what we could call “third-world fences” erected by many notable international payment platforms that make it difficult for Nigerian entrepreneurs to sell and receive payments internationally. In recent years, progress has been made by Nigerian fintech companies to bridge these gaps that exist and give more Nigerian entrepreneurs the opportunity to sell and receive payments from all around the world. Not too long ago, PayStack, announced its acquisition by Stripe and the entrepreneurial space was agog with the potential that news holds for Nigerian businesses. And now, with what Flutterwave has achieved in 2024 through this expansion, more and more businesses can accept payments internationally. So, if you’re a business owner in Nigeria, whether you’re selling fashion items, offering tech services, or running an e-commerce store, receiving payments from foreign customers has now become smoother and more accessible. With operations in countries like Rwanda, Ghana, Uganda, Zambia, and Mozambique, Flutterwave is making it easier for Nigerian businesses to sell beyond the country’s borders. More so, supporting 150+ currencies means that customers can pay in their local currencies, removing the stress of currency conversion and transaction failures.
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The Major Beneficiaries

  1. E-Commerce

One of the biggest winners in this expansion is the e-commerce sector. Many Nigerian online businesses have ambitions of selling to customers abroad, but limited payment options have often held them back. Now, with Flutterwave enabling payments from different parts of the world, more businesses can scale internationally without worrying about payment issues.

  1. Freelancers

This expansion also benefits freelancers and service providers in Nigeria. Many Nigerians who offer digital services like graphic design, content writing, and software development, often struggle to receive payments from international clients. With Flutterwave’s expanded reach, Nigerian freelancers can now accept payments from more countries with ease.

  1. Local Startups

Foreign investors have always been interested in African markets, but financial bottlenecks have slowed their participation. With Flutterwave now operating in over 35 countries and enabling seamless transactions in multiple currencies, investors will find it easier to fund African businesses. For Nigerian startups looking for international funding, this is a major win. It means easier capital inflow, fewer restrictions on transactions, and more growth opportunities. In simpler terms, Nigeria’s business ecosystem is now more connected to the global market than ever before.

Alternative Payment Methods

Another important highlight of Flutterwave’s growth which was captured in their report is the introduction of alternative payment methods. The company recently partnered with OPay, allowing businesses to collect payments from over 40 million OPay users. This is particularly important for businesses that cater to customers who prefer mobile wallets over traditional bank transfers or card payments. Additionally, with the rise of direct account payments, we might soon see a shift from card-based transactions to bank-to-bank payments. Flutterwave is already at the forefront of this transition, making payments even more seamless.
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Concluding Thoughts

While the 2024 expansion is already groundbreaking, Flutterwave isn’t stopping there. The company is constantly innovating, with a strong focus on infrastructure and security to ensure smooth transactions. As Nigeria’s digital economy grows, businesses that leverage Flutterwave’s expanded network would expect to have a competitive edge in the global market.
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This article was first published on 13th March 2025
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victor-ifegwu-mbonu

Ifegwu-Mbonu Victor is a Personal Growth and Leadership Trainer who provides training and coaching to individuals and organizations.

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