Ghana: Chipper Cash obtains its payment institution license

Chipper Cash, a fintech company operating in Ghana, has obtained an Enhanced Payment Service Provider license from the country’s Central Bank. This license should allow the structure to provide hardware and software for its services, and to perform international fund transfer services.

Chipper Cash has so far raised over $250 million from investors including Jeff Bezos’ Bezos Expeditions VC fund, Deciens Capital, Ribbit Capital, One Way Ventures, 500 Startups, Tribe Capital and Brue2 Ventures, which making it Africa’s sixth unicorn.

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Founded by Ghanaian Maijid Moujaled and Ugandan Ham Serunjogi in 2018, the structure offers to solve the problems associated with carrying out transactions from one African country to another, such as high rates and regulatory hassles.

Source: Financial Afrik