Blow for Flutterwave as Kenyan court declines request to withdraw case

Plans by Kenya’s Assets Recovery Agency (ARA) to withdraw its second case against African fintech giant Flutterwave have been shot down by the country’s third highest court, the High Court.
The agency had in August last year frozen $3 million belonging to Flutterwave, Hupesi Solutions, and Adguru Technology Limited on suspicion of money laundering and fraud. The funds seizure happened two months after the ARA froze another $52.5 million belonging to Flutterwave and six other companies. The ARA filed a suit after each seizure, the first of which was withdrawn formally in March this year.
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