• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Bank of Ghana conducts review of Flutterwave’s operations

3 years ago
in Banking & Finance, Business, Features, highlights, Home, home-news, latest News, Technology
2 min read
0 0
0
324
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Bank of Ghana conducts review of Flutterwave’s operations

The Bank of Ghana (BoG) is conducting a review on the activities of Flutterwave in the country.

In a request for information letter dated July 13, 2022 from BoG to financial institutions in Ghana, Ismail Adam, Head of Bank Supervision said: “The Bank of Ghana is conducting a review on Flutterwave Technology Solutions Limited as part of its continuous surveillance of the financial system.”

Mr Adam instructed the financial institutions to provide the details of services provided by Flutterwave to their institutions, as well as the fintech company’s operational accounts and other financial exposure details. All of this information was meant to be submitted to BoG by July 20, 2022.

Even though Flutterwave has been operating in Ghana for a while, it has not been listed by the BoG as an approved fintech and innovation institution. However, it is not uncommon for African fintech startups to commence groundwork before securing a license.

Flutterwave is listed on Ghana’s Registrar General’s Department—a department of the Ministry of Justice and Attorney General. 

Flutterwave listed on Ghana’s Registrar General’s database

The ongoing review by the Bank of Ghana is coming within a period where Flutterwave has been accused of several financial misconducts. The Central Bank of Kenya (CBK) recently announced that Flutterwave and Chipper Cash are not licensed to operate in the country.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

CBK further instructed financial institutions in Kenya to “cease and desist from dealing with Flutterwave and Chipper Cash”. Prior to CBK’s move, the Kenyan Asset Recovery Agency (ARA) secured a court order to freeze bank accounts linked to Flutterwave citing “international money laundering”. However, the fintech denied the allegations.

Since its launch, Flutterwave has been on a mission to create endless possibilities for customers and businesses in Africa and the emerging markets. To date, the company has processed over 200 million transactions worth over $16 billion across 34 countries in Africa including Nigeria, Uganda, Kenya, and South Africa.

In February 2022, the fintech company raised $250 million in Series D funding led by B Capital Group, with participation from Alta Park Capital, Whale Rock Capital, Lux Capital. Existing investors—Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital and Salesforce Ventures. The Series D raised the company’s valuation to over $3 billion.

Source: benjamindada
Tags: Bank of Ghana (BoG)Bank of Ghana conducts review of Flutterwave's operationsChipper CashFlutterwave
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.