Leading payments technology provider in Africa, Flutterwave, has announced that its regional base would be in Nairobi, the country’s capital.
The declaration was made last week in Nairobi at the third American Chamber of Commerce (AmCham) Business Conference.
The event brought together investors, a group from the US government, and AmChams from all around East Africa.
The U.S. Department of Commerce, the Africa Business Center of the U.S. Chamber of Commerce, as well as local companies and government representatives, organized it.
The conference outlined new directions for improved US commercial involvement with Kenya and the surrounding area. There were more than 500 American and East African representatives.
Oluwabankole Falade, Chief Regulatory, and Governmental Relations Officer stated, “We acknowledge the essential role Kenya plays in the East African region, as well as the country’s business-friendly environment and digital capability.
“As a San Francisco-based company with African roots, we are conscious of the significance of empowering small business owners, a goal shared by the Kenyan government.”
Meg Witman, the U.S. ambassador to Kenya, served as the program’s main host and gave introductory remarks on “Why Africa, Why Kenya.”
President William Ruto closed it out by announcing new initiatives to boost trade and investment with the United States, including actions to promote the Small and Medium Business Enterprises (SMEs) sector, a crucial area for Flutterwave’s operations.
Flutterwave is a sponsor of the event and a member of AmCham in Kenya, Tanzania, Rwanda, Uganda, and Zambia. It serves on the board of the U.S. Chamber of Commerce’s Africa Business Center.
The organization makes sure SMEs have access to effective, straightforward, and cost-effective technology solutions that help their companies become profitable globally.
Flutterwave’s two primary SME solutions, Flutterwave Shop, and Flutterwave Market, are designed to aid Kenya’s SME sector, which employs about 80% of the country’s workforce, generates 30% of new employees each year, and makes up 3% of the country’s GDP.
As of 2023, Kenya will provide Flutterwave with access to a customer base of around 476 million people in the region.
“We appreciate the leadership, stakeholders, and support of the Government of Kenya and AmCham. We’re pleased to sponsor the summit and learn that other multinational companies we partner with, like Amazon and Uber, have also chosen to locate here, added Falade.