flutterwave kenya

Just a few days ago, the Kenyan High Court approved the Asset Recovery Agency’s (ARA) motion to drop its final lawsuit against Flutterwave. This decision brings an end to the company’s legal entanglements in Kenya.

This comes just a few weeks after the Nigerian fintech giant announced its ambitious plans to invest $50 million in Kenya and the earlier financial impropriety charges leveled against them by the Kenyan Government were also dropped.


The legal tussle arose from allegations of money laundering and fraudulent activities, leading to the freezing of over $3 million belonging to Flutterwave, Hupesi Solutions, and Adguru Technology Limited in August 2022. However, subsequent investigations revealed no evidence of illegal conduct by Flutterwave, prompting the ARA to withdraw the case.

The judge, while delivering the ruling, faulted the agency for filing the case without completing its investigations. The judge imposed a condition that the agency’s director and investigator bear any potential civil liabilities “solely and personally”, citing the negligent manner in which the case was investigated and pursued.

Flutterwave’s Future in Kenya

Flutterwave has issued a statement expressing relief at the withdrawal of the final case. The company has been expanding its operations in Kenya, intending to establish its primary operations station in Nairobi for the East African market.

In the course of its struggles in Kenya, the ARA froze and subsequently released funds in different instances. The recent withdrawal of the last case against Flutterwave brings an end to its legal challenges in the country.

Fresh from raising $250 million in a Series D funding round, Flutterwave now has no excuse to not deliver on its promise of more than payments in – Flutterwave 3.0 – which brought new products like Fintech-as-a-service and Flutterwave Capital. We will closely monitor the fintech and see if they also come through on their $50 Million investment in the country.

AlSO READ:  Ethereum 2.0 Launching December 1st, Everything You Need to Know

Follow Techspace Africa on Facebook and Twitter. For the latest news, tech news, breaking news headlines, reviews and live updates check out tech-space.africa

Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

You may also like