Transcribed

Flutterwave’s New Product Swap to Solve Nigeria’s FX Problems 

Sep 13, 2023 · 1m 27s
Flutterwave’s New Product Swap to Solve Nigeria’s FX Problems 
Description

Flutterwave has launched Swap, a new product that will digitise the process of getting foreign exchange for Nigerians with the backing of the CBN. The fintech is leveraging a partnership...

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Flutterwave has launched Swap, a new product that will digitise the process of getting foreign exchange for Nigerians with the backing of the CBN.
The fintech is leveraging a partnership with Wema Bank, a commercial bank, and Kadavra BDC, a bureau de change, to provide liquidity and foreign exchange for the product.
Mr Folashodun Shonubi, the acting governor of the CBN, says that Swap could solve two major problems facing Nigeria’s foreign exchange market: the lack of collaboration between institutions and the dependence on cash.
Flutterwave will leverage its International Money Transfer Operator license from the CBN to bring in the foreign currency, Kadavra will use its BDC license to sell it, and Wema Bank will support the entire process.
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Author Africa Business Radio
Organization Africa Business Radio
Website -
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