Roqqu’s Strategic Move: Crypto Exchange Roqqu Expands to Kenya through Flitaa Acquisition
In a significant development for the African cryptocurrency landscape, Nigerian crypto exchange Roqqu has expanded its reach into East Africa by acquiring Flitaa, a crypto firm. This strategic move signifies Roqqu’s commitment to its pan-African expansion goals and underscores the growing consolidation within the continent’s burgeoning digital currency sector. The acquisition provides Roqqu with a quicker route to market and streamlines regulatory compliance across multiple East African nations.
Expanding Crypto Footprint in East Africa
Flitaa, established in 2019, has been operating across key East African markets, including Kenya, Ghana, Uganda, and Tanzania. The company provides easy-to-use services for buying and selling cryptocurrencies, catering to a broad user base. By acquiring Flitaa, Roqqu gains access to an established infrastructure and customer base in these regions, accelerating its expansion efforts. Ayo Shonibare, Roqqu’s Chief Marketing Officer, highlighted the strategic advantage of the acquisition, stating that Roqqu recognized the “value in their groundwork,” particularly their plans to enter Uganda, Rwanda, and Tanzania. This deal allows Roqqu to bypass the lengthy process of setting up operations from scratch and leverage Flitaa’s existing operational processes and market presence. The integration of Flitaa’s operations into the Roqqu platform is expected to significantly broaden the exchange’s customer reach throughout Africa, further establishing its presence in the cryptocurrency sphere. The deal grants Roqqu the necessary regulatory approvals to operate within the East African virtual currency market, making it a strategic move.
The acquisition of Flitaa by Roqqu highlights the increasing importance of strategic partnerships and acquisitions in the African tech sector. This development mirrors the broader trend of Nigerian tech companies looking to expand within the continent.
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