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== Controversy ==
=== Kenya licensing and Money Laundering Allegations ===
In July 2022, a Kenyan High Court froze accounts held by Flutterwave holdingcontaining over 6.2 billion [[Kenyan shilling]] , based uponfollowing allegations by Kenya's Assets Recovery Agency (ARA) that the funds were thelinked proceedsto ofmoney laundering and credit card fraud . andThe moneyCentral launderingBank afterof aKenya request(CBK) fromalso Kenya'sdisclosed Assetsthat RecoveryFlutterwave Agency.was not licensed to operate in the country.<ref name="TheCable ML">{{cite web |last=Azeez |first=Wasilat |date=July 7, 2022 |title=Flutterwave denies money laundering allegation as Kenyan court freezes bank accounts |url=https://www.thecable.ng/flutterwave-denies-money-laundering-allegation-as-kenyan-court-freezes-bank-accounts/amp |title=Flutterwave denies money laundering allegation as Kenyan court freezes bank accounts|last=Azeez|first=Wasilat| access-date= July3 7,September 2022 |work=[[TheCable]] |language=English |access-date=3 September 2022}}</ref><ref name="Reuters ML">{{cite web |date=July 7, 2022 |title=Flutterwave's accounts frozen in Kenya over money laundering claims |url=https://www.reuters.com/technology/flutterwaves-accounts-frozen-kenya-over-money-laundering-claims-2022-07-07/ |title=Flutterwave's accounts frozen in Kenya over money laundering claims| access-date= July3 7,September 2022 |publisher=[[Reuters]] |access-date=3 September 2022}}</ref><ref name="Bloomberg 1">{{cite web |last=Prinsloo |first=Loni |date=August 11, 2022 |title=Africa's $3 Billion Startup Battles Allegations as It Plans IPO |url=https://www.bloomberg.com/news/articles/2022-08-11/biggest-africa-startup-battles-multiple-allegations-in-ipo-runup |title=Africa's $3 Billion Startup Battles Allegations as It Plans IPO|last=Prinsloo|first=Loni| access-date= August3 11,September 2022 |work=[[Bloomberg News|Bloomberg]] |access-date=3 September 2022}}</ref> The company hasFlutterwave denied accusations of financial misconduct.<ref name="Bloomberg 1" /> ▼Kenyan central bank Governor [[Patrick Njoroge]] disclosed on July 28, 2022, after the Monetary Policy Committee meeting, that Flutterwave and Chipper have not been granted a licence to operate in the country. The clarification of Patrick followed an initial ruling by a Kenyan High Court on July 6, 2022, which froze all assets and accounts of Flutterwave in the country.<ref>{{Cite web |date=2022-07-29 |title=Flutterwave, Chipper Cash not licensed to operate in Kenya — Central Bank |url=https://www.premiumtimesng.com/news/top-news/545704-flutterwave-chipper-cash-not-licensed-to-operate-in-kenya-central-bank.html |access-date=2022-08-12 |website=Premium Times |language=en}}</ref>
FlutterwaveIn February 2023, inthe anARA officialwithdrew responseits case against Flutterwave, disclosedand a Kenyan court released $51.9 million that ithad submittedbeen applicationsfrozen. forThe licensingcourt todocuments revealed that the centralagency bankabsolved Flutterwave of Kenyaany inwrongdoing, 2019effectively butclearing hasthe yetcompany toof beall granted oneallegations.<ref>{{Cite web |date=20222023-0702-28 |title=FlutterwaveKenyan Sayscourt It'sreleases Awaitingfrozen KenyaFlutterwave License After Bank Snubfunds |url=https://wwwtechpoint.bloomberg.comafrica/news2023/articles02/2022-07-28/kenyakenyan-sayscourt-flutterwavereleases-andfrozen-chipperflutterwave-cash-not-licensed-operators#xj4y7vzkgfunds/ |access-date=20222023-0803-1210 |website=Bloomberg|language=en-US}}</ref><ref>{{Cite web |date=2022-07-30 |title=We submitted application for licence to operate in Kenya since 2019, Flutterwave reacts to CBK allegation |url=https://wwwtechpoint.vanguardngr.comafrica/20222023/0711/we09/flutterwave-submitted-application-for-licence-to-operatecleared-in-kenya-since-2019-flutterwave-reacts-to-cbk-allegation/ |access-date=20222024-0809-1203 |website=Vanguard Newspaper|language=entechpoint.africa}}</ref><ref>{{Cite web |date=2022-07-25 |title=Nigeria's Flutterwave faces Kenya fraud allegations |url=https://restofworldtechpoint.orgafrica/20222023/flutterwave02/28/kenyan-fraudcourt-allegationsreleases-kenyafrozen-flutterwave-funds/ |access-date=20222024-0809-1603 |website=Rest of World |language=en-UStechpoint.africa}}</ref>
In response to the licensing issue, Flutterwave disclosed that it submitted applications for licensing to the CBK as early as 2019, but these were still pending approval.<ref>{{Cite web |date=2022-07-28 |title=Flutterwave Says It's Awaiting Kenya License After Bank Snub |url=https://www.bloomberg.com/news/articles/2022-07-28/kenya-says-flutterwave-and-chipper-cash-not-licensed-operators#xj4y7vzkg |access-date=2022-08-12 |website=Bloomberg|language=en}}</ref><ref>{{Cite web |date=2022-07-30 |title=We submitted application for licence to operate in Kenya since 2019, Flutterwave reacts to CBK allegation |url=https://www.vanguardngr.com/2022/07/we-submitted-application-for-licence-to-operate-in-kenya-since-2019-flutterwave-reacts-to-cbk-allegation/ |access-date=2022-08-12 |website=Vanguard Newspaper|language=en}}</ref><ref>{{Cite web |date=2022-07-25 |title=Nigeria's Flutterwave faces Kenya fraud allegations |url=https://restofworld.org/2022/flutterwave-fraud-allegations-kenya/ |access-date=2022-08-16 |website=Rest of World |language=en-US}}</ref> Recent developments indicate that the CBK is revising its regulatory framework, which could soon allow Flutterwave and other fintech companies to obtain the necessary licenses to operate in Kenya.<ref>{{Cite web |last=Ndege |first=Adonijah |date=2024-06-10 |title=Kenya to issue payment licences: Flutterwave, Chipper could be first in line |url=https://techcabal.com/2024/06/10/kenya-opens-up-to-fintech-payment-licenses/ |access-date=2024-09-03 |website=TechCabal |language=en-US}}</ref>
In February 2023, a Kenyan court released $51.9 million belonging to Flutterwave after the Asset Recovery Agency of Kenya withdrew its case against the startup.<ref>{{Cite web |date=2023-02-28 |title=Kenyan court releases frozen Flutterwave funds |url=https://techpoint.africa/2023/02/28/kenyan-court-releases-frozen-flutterwave-funds/ |access-date=2023-03-10 |language=en-US}}</ref>
=== Money laundering ===
▲In July 2022, a Kenyan High Court froze accounts held by Flutterwave holding over 6.2 billion [[Kenyan shilling]] based upon allegations that the funds were the proceeds of credit card fraud and money laundering after a request from Kenya's Assets Recovery Agency. <ref name="TheCable ML">{{cite web|url=https://www.thecable.ng/flutterwave-denies-money-laundering-allegation-as-kenyan-court-freezes-bank-accounts/amp|title=Flutterwave denies money laundering allegation as Kenyan court freezes bank accounts|last=Azeez|first=Wasilat|date=July 7, 2022|work=[[TheCable]]|language=English|access-date=3 September 2022}}</ref><ref name="Reuters ML">{{cite web|url=https://www.reuters.com/technology/flutterwaves-accounts-frozen-kenya-over-money-laundering-claims-2022-07-07/|title=Flutterwave's accounts frozen in Kenya over money laundering claims|date=July 7, 2022|publisher=[[Reuters]]|access-date=3 September 2022}}</ref><ref name="Bloomberg 1">{{cite web|url=https://www.bloomberg.com/news/articles/2022-08-11/biggest-africa-startup-battles-multiple-allegations-in-ipo-runup|title=Africa's $3 Billion Startup Battles Allegations as It Plans IPO|last=Prinsloo|first=Loni|date=August 11, 2022|work=[[Bloomberg News|Bloomberg]]|access-date=3 September 2022}}</ref> The company has denied accusations of financial misconduct.<ref name="Bloomberg 1" />
Kenya's Assets Recovery Agency withdrew the allegation of money laundering and fraud against Flutterwave. In a court order cited by [[Bloomberg News|Bloomberg]], the agency absolved Flutterwave of any infringement.<ref>{{Cite web |title=Kenya Withdraws Financial Impropriety Case Against Flutterwave |url=https://www.bloomberg.com/news/articles/2023-02-03/kenya-withdraws-financial-impropriety-case-against-flutterwave |website=Bloomberg |language=en-US}}</ref>
===Harassment===
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