Reports reaching the desk of Africa Today News, New York has it that the Asset Recovery Agency’s case which was instituted against Flutterwave, Africa’s fintech giant, has been officially closed by the Kenyan High Court.
The agency was chastised by the court for taking legal action without carrying out a thorough investigation, calling it irresponsible and improper.
With this ruling, the investigation into the bank accounts of Flutterwave Payments Technology Limited Kenya has come to an end, and the firm is now free to participate in Kenya’s fintech industry without worrying about facing legal repercussions.
Africa Today News, New York recalls that earlier this year, ARA, as reported by Bloomberg, withdrew all charges against Flutterwave, citing investigative errors. In response to the recent judgment, Flutterwave expressed appreciation, stating that it welcomes the ruling that vindicates the company from any wrongdoing. The court’s decision is seen as an affirmation of Flutterwave’s commitment to ethical business practices and the highest standards of integrity.
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The fintech giant remains focused on its mission to deliver outstanding products and services while positively contributing to communities across Africa. Flutterwave acknowledged the support and trust received from customers, employees, investors, and stakeholders throughout the challenging legal proceedings. Emphasizing its commitment to obtaining licensing from the Central Bank of Kenya,
Flutterwave aims to strengthen its market position.
The company is now channeling its efforts into acquiring the necessary license in Kenya, expanding its operations, and continuing to support local businesses and economic growth.
Africa Today News, New York reports that since 2016, Flutterwave has played a pivotal role for over one million businesses, processing transactions totaling over $30 billion.