Flutterwave CEO on why African fintechs want to become banks

In April, Flutterwave , a pan-African fintech unicorn, secured a national microfinance banking licence through its acquisition of open banking startup Mono. It joined a growing group of Nigerian fintechs moving into regulated banking. In January, Paystack acquired Ladder Microfinance Bank, while Moniepoint secured a microfinance banking licence in 2025.