Kenya has withdrawn the financial impropriety case against Flutterwave almost seven months after a court in the East African nation froze the bank accounts of one of Africa’s biggest startups.
The withdrawal of the charges was noted in a Kenyan High Court document.
Dropping the case will come as a boost to the financial technology company, which plans to expand its services of facilitating cross-border transactions in multiple currencies for companies, including Alibaba’s Alipay, and Uber Technologies Inc. The court in July restricted access to its Kenyan bank accounts holding more than $40 million, amid suspicion of financial impropriety, allegations the firm denied.
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