At a time when Africa’s economic potential is drawing global attention, seamless cross-border transactions are emerging as a cornerstone for unlocking the continent’s growth, according to Olugbenga “GB” Agboola, founder and CEO of fintech giant Flutterwave. Speaking during a recent panel discussion at the Money20/20 Europe conference, Agboola emphasized the urgent need to address Africa’s fragmented payment systems, which he argues hinder both intracontinental commerce and broader global integration.
The Nigerian-born executive, interviewed by the New York Stock Exchange’s Kristen Scholer, underscored how Flutterwave’s technology bridges gaps between Africa’s disconnected financial infrastructures. While individual countries have developed sophisticated local payment systems, Agboola noted they often operate in isolation. “Almost every African country has advanced local payment systems today, but they don’t talk to each other,” he said. “We help global companies scale in Africa, and we help Africans transact anywhere on the continent and beyond.”
Flutterwave’s unified API powers cross-border transactions for multinational firms like Uber, African travel platform Wakanow, and investment service Bamboo, among others. This interoperability positions the company as a critical player in a region projected to dominate global growth metrics. The African Development Bank estimates 12 of the world’s 20 fastest-growing economies will be African by 2025, with regional GDP expected to rise by 4.4% in 2026. Agboola anticipates this surge will amplify demand for payment solutions that are not only reliable but also scalable, particularly given Africa’s rapidly digitizing economies and youthful population.
The fintech firm’s expansion reflects this strategic focus. By prioritizing partnerships with large enterprises and optimizing remittance flows—a lifeline for millions in Africa—Flutterwave has bolstered its profitability while widening its reach. Beyond facilitating corporate transactions, the platform increasingly supports payments for healthcare, education, and other essential services, signaling its ambition to become embedded in daily financial ecosystems.
Experts suggest such infrastructure could prove transformative in a region where fragmented regulations and incompatible systems have long stifle- d commerce. For Agboola, the vision extends beyond mere transaction facilitation. “We are building a systemically important platform for the continent,” he said. “Our goal is to make payments easy, scalable, and accessible for every African.” As global investors and businesses intensify their focus on Africa, solutions like Flutterwave’s may determine whether the continent’s economic promise translates into inclusive, sustainable progress.
