Nairobi, Feb. 8 -- Flutterwave - Africa's most valuable start-up - has received regulatory approval to operate as payments and money remittance service provider in Egypt as the tech firm steps up its expansion on the continent.

The license comes at a time the unicorn is trying to overcome regulatory hurdles across Africa that have slowed its ambitious plans to expand on the continent.

"We are proud to have been granted the Payment Services Provider and Payment Facilitator licenses in Egypt, which forms part of our international expansion strategy," Flutterwave chief executive Olugbenga Agboola said.

"Our vision is to connect all parts of Africa through payments and connect Africa to the world. This way, it is easier for multinationals ...