In a groundbreaking move to revolutionize financial services in Africa, Microsoft has teamed up with Flutterwave, a leading player in the financial technology (Fintech) sector. This partnership aims to spur economic growth, enhance daily living, and advance financial inclusion.
Lillian Barnard, President of Microsoft Africa, shared the exciting news in Lagos, highlighting how collaborations with companies like Flutterwave will drive financial innovation and digital accessibility across the continent. She emphasized the significance of this venture, as a substantial portion of Africa’s population still lacks easy access to financial services for essential payments.
Barnard pointed out that nearly half of Africa’s 1.4 billion people fall under the categories of being unbanked, underbanked, or underserved. She stressed the urgency of addressing this issue, emphasizing that digital and financial inclusion are crucial for businesses to thrive.
The partnership between Microsoft and Flutterwave is set to streamline millions of payments for businesses worldwide, creating seamless transactions. The integration of the Microsoft OpenAI platform and service will empower Flutterwave to extend its operations to numerous merchants worldwide.
Barnard revealed Microsoft’s ambitious goal of investing in and empowering 10 million Small and Medium Enterprises (SMEs) by 2025. This initiative aims to equip businesses with essential tools, infrastructure, and strategic partnerships for scaling.
Ola Williams, Country Manager of Microsoft Nigeria, highlighted the widespread accessibility of mobile systems in Nigeria, driving growth in the Fintech sector and enabling widespread participation in mobile payments. She noted that investments in Fintech contribute significantly to economic growth.
Olugbenga Agboola, CEO of Flutterwave, expressed pride in being part of Microsoft’s vision for the future. The collaboration aims to provide a seamless cloud platform and robust infrastructure to serve billions of Africans, ensuring uninterrupted services and simplifying payments for consumers across Africa and beyond. This partnership between Microsoft and Flutterwave marks a significant stride towards empowering small businesses and driving economic prosperity in Africa.
