The Central Bank of Kenya (CBK) says Flutterwave and Chipper Cash are not licensed to operate in the country.
Patrick Njoroge, CBK governor, said this on Thursday in Nairobi, the country’s capital, at a media briefing following its monetary policy committee (MPC) meeting.
Flutterwave is a Nigerian fintech company that provides a payment infrastructure for global merchants and payment service providers.
Chipper Cash, founded in 2018, enables customers to send and receive money across borders. It is available in Nigeria, Kenya, Uganda, Tanzania, Rwanda, Ghana and South Africa.
Speaking to journalists, Njoroge said the two fintech firms are not allowed to operate remittance services or offer payment solutions to merchants in the East African country.
“Flutterwave is not licensed to operate as a remittance provider or, for that matter, as a payments service provider in Kenya,” Njoroge said.
“They are not licensed to operate, and therefore they shouldn’t be operating, and Chipper Cash, we could also say the same.”
