Flutterwave Cleared of Wrongdoing as Kenyan High Court Closes Case by ARA

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NAIROBI, Kenya, Nov. 10, 2023 /PRNewswire/ -- We are pleased to announce the closure of the High Court case by the Asset Recovery Agency (ARA). This resolution affirms our adherence to regulatory compliance and transparency.

Key Developments:

• The ARA has officially withdrawn its suit against us, marking an end to the scrutiny of Flutterwave Payments Technology Limited Kenya's bank accounts.
• The High Court's decision allows us to continue contributing to Kenya's fintech sector without any legal uncertainties.

Impact on Operations:

• With this case behind us, Flutterwave will focus on acquiring its license in Kenya, expanding its operations, and further supporting local businesses and economic growth.
• Our platform has been pivotal for over one million businesses, processing transactions worth over $30 billion since 2016.

Company Statements:

• Flutterwave welcomes the recent court ruling that vindicates our company from any wrongdoing. The court's decision affirms our steadfast commitment to ethical business practices and upholding the highest standards of integrity. Throughout the legal proceedings, we have maintained our confidence in the justice system and the truth.

As a company, we remain focused on our mission to deliver exceptional products/services and contribute positively to our communities across Africa. We appreciate the support and trust of our customers, employees,  investors, and stakeholders throughout this challenging period.

• Flutterwave reiterates its commitment to obtaining the licensing with the Central Bank of Kenya, bolstering its leading position in the market.

Moving Forward:

• Flutterwave is poised to resume its mission to simplify payments and create endless possibilities for businesses in Kenya and beyond.

SOURCE Flutterwave

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