Flutterwave, Africa’s leading-edge payments technology company, has chosen Nairobi, Kenya’s capital, as its regional base. The news was made during the 3rd American Chamber of Commerce (AmCham) Business Summit in Nairobi last week.
The gathering brought together East African AmChams, a US government team, and investors. It was organised by the United States Department of Commerce, the United States Chamber of Commerce’s Africa Business Centre, as well as area companies and politicians.
The summit paved the way for further business cooperation between the United States and Kenya, and the region. Over 500 East African and American representatives attended.
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“We recognise the invaluable role Kenya plays in the East African region, as well as the country’s business-friendly environment and digital capability,” said Oluwabankole Falade, Chief Regulatory and Government Relations Officer.
“As a company with African roots headquartered in San Francisco, we understand the importance of empowering small business owners, an objective shared by the Kenyan government.”
The two-day programme was led by US Ambassador to Kenya Meg Witman, who offered opening comments on the theme “Why Africa, Why Kenya.”
President William Ruto wrapped up the event by announcing new initiatives to boost US trade and investment, including moves to promote the Small and Medium Business Enterprises (SMEs) sector, a crucial element of Flutterwave’s business.
Flutterwave seeks to boost Kenya’s SME sector
Flutterwave, an event sponsor, is a board member of the US Chamber of Commerce’s Africa Business Centre and an AmCham member in Kenya, Tanzania, Rwanda, Uganda, and Zambia.
The organisation guarantees that SMEs get efficient, easy, and cost-effective technological solutions that propel their businesses to profitability across borders.
Flutterwave’s major SME products, Flutterwave Store and Flutterwave Market, seek to boost Kenya’s SME sector, which employs around 80% of the population, produces 30% of new employment each year, and contributes 3% to the country’s GDP.
As of 2023, Kenya provides Flutterwave with a gateway into the area and a customer base of over 476 million people.
“We acknowledge the support of the Kenyan government, AmCham stakeholders, and leadership.” “We’re proud to support the summit and see other global firms we work with, such as Amazon and Uber, settling here as well,” Falade added.