By Flutterwave, the leading African fintech company, has forged a strategic technology partnership with tech giant Microsoft that promises to revolutionize the payments landscape across the continent. This landmark collaboration will see Flutterwave leverage the power of Microsoft Azure to drive innovation, empower small and medium-sized enterprises (SMEs), and accelerate financial inclusion in Africa.
At the heart of this partnership is Flutterwave’s mission to democratize access to financial services and enable seamless cross-border transactions for businesses and individuals alike. By transitioning its legacy infrastructure to Microsoft Azure, the company will be able to process high-volume payments at scale, ensuring a frictionless and secure payment experience for its ever-expanding customer base.
Olugbenga ‘GB’ Agboola, the Founder and CEO of Flutterwave, expressed his enthusiasm for the partnership, stating, “This collaboration isn’t just about transactions – it’s about transformation. We’re honoured that Microsoft believes in our vision and trusts our capability. I am proud to say we’re not just dreaming of an inclusive digital Africa; we’re creating it.”
The significance of this partnership extends far beyond the technological integration. It recognizes the crucial role that SMEs play in driving Africa’s economic growth and development. Current estimates suggest that around 90% of the continent’s population is employed within these small and medium-sized enterprises. However, these businesses often face immense obstacles, with as many as five out of seven SMEs in Africa failing in their first year.
Ola Williams, the Country Manager of Microsoft Nigeria, underscored the importance of this partnership, saying, “To drive sustainable growth in Nigeria, small businesses need the ability to participate more actively in the local and even global marketplace. This begins with digital financial inclusion. If we want to build a more resilient country and ultimately a more prosperous continent, we must begin by giving these businesses the digital financial services they need, not just to survive, but to thrive.”
Through this collaboration, Flutterwave will leverage the Azure Marketplace to launch its SMB finance-as-a-service offering, further expanding its reach and empowering small businesses across Africa. Additionally, the integration with Azure OpenAI Service will allow Flutterwave to scale its product offerings to millions of merchants worldwide, positioning the company as a true global player in the payments ecosystem.
Lillian Barnard, the President of Microsoft Africa, expressed the company’s commitment to driving economic growth in Africa through the transformative power of technology. “We believe greater access to technology and innovation holds the key to building thriving local businesses that will create stronger economies to enable a brighter future for all,” Barnard said.
As Flutterwave continues to solidify its position as a trailblazer in the African fintech landscape, this strategic partnership with Microsoft underscores the company’s unwavering dedication to fostering financial inclusion, empowering SMEs, and elevating the continent’s position in the global digital economy.
