The Asset Recovery Agency (ARA) has closed the High Court case against Flutterwave, the company has confirmed.
The ARA has withdrawn its suit against the payment technology firm, bringing to an end to the scrutiny of the company’s bank accounts in Kenya. This decision now allows Flutterwave to continue contributing to Kenya’s fintech sector without any legal uncertainties.
In a statement sent to CIO Africa, Flutterwave said that the decision affirms its steadfast commitment to ethical business practices.
“Flutterwave welcomes the recent court ruling that vindicates our company from any wrongdoing. The court’s decision affirms our steadfast commitment to ethical business practices and upholding the highest standards of integrity. Throughout the legal proceedings, we have maintained our confidence in the justice system and the truth,” the statement reads in part.
With this case behind them, Flutterwave will now focus on acquiring its license in Kenya, expanding its operations, and further supporting local businesses and economic growth. The platform has been pivotal for over one million businesses, processing transactions worth over $30 billion since 2016.
“As a company, we remain focused on our mission to deliver exceptional products/services and contribute positively to our communities across Africa. We appreciate the support and trust of our customers, employees, investors, and stakeholders throughout this challenging period,” the statement further reads.
Moving forward, Flutterwave is poised to resume its mission to simplify payments and create endless possibilities for businesses in Kenya and beyond.
The company had been forced to halt its activities in Kenya following the suit that was filed against them leading to millions of dollars being frozen in the fintech firm’s accounts.