In a groundbreaking move set to transform Africa's digital landscape, Flutterwave, the continent's leading payments company, has forged a dynamic 5-year alliance with tech giant Microsoft. Together, they're embarking on a mission to revolutionize digital payments and foster the growth of small and medium enterprises (SMEs) across Africa.
Africa's development heavily relies on its SMEs, which employ nearly 90% of the population. However, these enterprises face daunting challenges, with up to 70% experiencing failure within their first year. Limited access to financial services and seamless local payment methods compound these hurdles.
Flutterwave, a trailblazer in democratizing payments across Africa, has been at the forefront of transforming the payment landscape, enabling various modes of transactions including cards and mobile wallets. Teaming up with Microsoft, Flutterwave aims to take this revolution several steps further. Their shared mission is clear: digitally empower African SMEs and enhance financial inclusion.
By transitioning to Microsoft Azure, Flutterwave gains the ability to process large-scale, high-volume payments securely, promising customers smoother experiences. The partnership doesn't just focus on transactions; it’s about transformation. Through Azure OpenAI, Flutterwave can expand its offerings to millions of merchants globally, reaching new horizons in the digital payment sphere.
GB Agboola, the Founder and CEO of Flutterwave, expressed immense enthusiasm, highlighting Microsoft's faith in Flutterwave’s potential to create an inclusive digital Africa. This collaboration also paves the way for Flutterwave to launch innovative solutions on Azure Marketplace, significantly extending its reach and impact.
Lillian Barnard, President of Microsoft Africa, emphasized the pivotal role of increased technology access and innovation in empowering local businesses and fortifying African economies. Building the next-generation platform on Azure cements their joint vision of enhancing financial inclusion and prosperity through cutting-edge technology.
This partnership is a testament to the shared commitment of Microsoft and Flutterwave in digitally empowering SMEs. Leveraging Azure’s robust capabilities, Flutterwave aims to unlock the full potential of digital payments for African businesses, thereby propelling economic growth and fostering a brighter future for the continent.