Flutterwave is a fintech company providing payment infrastructure for global merchants and payment service providers in Africa. It launched its platform in Dar es Salaam, Tanzania, with its products and services to support Tanzanian Small and Medium Enterprises (SMEs) to overcome challenges caused by the highly fragmented and complex payment and banking infrastructure. The company wants to provide a safe and secure payments gateway and additional opportunity for shoppers to discover businesses, transact easily and drive financial inclusion.
The fintech company allows users to make digital payments on its platform to conduct trade efficiently. Tanzania has a flourishing SME industry across the different businesses. Therefore, Flutterwave aims to enhance SMEs to transact and expand operations to reach new customers and global markets. The company wants its solutions to eliminate significant barriers that hinder African consumers and businesses.
Statista reports that Tanzania’s e-commerce transaction value is projected to reach $907-million in 2022 and expected users estimated at 14.2-million by 2025. Tanzania has the fourth-largest e-commerce consumer base in Africa and has an estimated 1.5 million online shoppers, according to the United Nations Conference on Trade and Development (UNCTAD).
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