Flutterwave was founded in 2016, operates in key African markets, and processes over 400 million transactions annually. With over $450 million in transaction volume to date, the company is now expanding into new global markets. But for Agboola, scale means nothing without the systems that sustain it.
“We invest heavily in risk and compliance,” he said. “You can’t build a serious payments business—especially in Africa—without it.”
Agboola doesn’t see regulation as a hindrance, but rather as a strategic advantage. Compliance builds trust among users, regulators, and partners – and is crucial when things go wrong. A solid framework, he said, can mean the difference between crisis and continuity.
One of Flutterwave’s biggest operational challenges is the country-specific licensing model in Africa. “In Europe, a single license enables cross-border activities,” Agboola explained. “In Africa, each country has its own rules, its own license – and that makes scaling difficult.”
Despite the complexity, Flutterwave continues to secure licenses across the continent with one goal: ensuring smooth and compliant money transfers. “We accept the complexity,” he said. “Our job is to make things simple for the end user.”
Agboola also drew a striking comparison between developed and emerging markets. “In the US, the payments system hasn’t fundamentally changed in over 20 years. In Africa, it might have changed just last week.” This pace of development presents both a challenge and an opportunity—one that Flutterwave has learned to navigate with agility.
Agboola emphasized the importance of investing in African talent beyond infrastructure. “If you see world-class talent anywhere in the world, someone has invested in it. We have great talent in Africa—but we need to invest more in managing and nurturing it.” He called on African entrepreneurs, governments, and companies to treat talent like infrastructure—something that needs to be nurtured, scaled, and protected over the long term.
A key takeaway from the session was the importance of stakeholder management, especially when dealing with regulators. “Regulators may not be your customers,” Agboola said, “but they can provide insights that improve your product or service.” Agboola emphasized the need for proactive engagement, between founders and regulators at every stage of growth. “Trust in regulators is essential,” he added. “It can mean the difference between being shut down and being supported.”
When asked about global players shaping his thinking, Agboola cited OpenAI and Apple—two companies he believes are redefining the way industries operate. “I’m always thinking about how Flutterwave can partner with such companies,” he said. “Not just to follow trends, but to help shape them.”
As Flutterwave expands beyond the continent, its strategy remains focused on compliance, operational excellence, and talent development. For Agboola, Africa’s fintech future will be built on trust – not just with consumers, but also with regulators, partners, and teams.
