In a bold step toward African expansion, Nigerian-based crypto platform Roqqu has officially acquired Flitaa, one of East Africa’s fastest-growing cryptocurrency exchanges.
This acquisition marks more than just a business merger, it signals a new phase in Africa’s journey toward becoming a global blockchain powerhouse.
Flitaa, which had been making waves across East Africa, particularly in Kenya, will now operate under Roqqu’s infrastructure. While the platform will retain its brand identity, Flitaa’s original leadership and staff have exited, receiving severance packages as part of the transition.
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“We’re not just building to expand to Europe,” Ayo Shonibare, Roqqu’s chief marketing officer, said. “We also want to expand into our home base, Africa, so it only makes sense that in our quest for this expansion, we also expand into our home territory.”
In the future, Great Onomor, a director at Roqqu, will assume the role of CEO of Flitaa and lead its operations.
Strengthening the East African Crypto Ecosystem
Before the acquisition, Flitaa had been struggling with limited funding, weak infrastructure, and a narrow product range. Despite these struggles, it built a user base of over 72,544. It processed around 560,000 monthly transactions, largely due to its deep integration with M-PESA, which allowed seamless conversion of crypto to Kenyan Shillings. Its focus on lesser-traded tokens and compliance with local regulations made it attractive for acquisition.
Through this strategic acquisition, Roqqu aims to revitalize Flitaa and provide its users with access to a broader range of features and a more stable, robust platform. The move is also a launchpad for Roqqu’s deeper penetration into Uganda, Rwanda, and Tanzania, as it extends its footprint across the continent.
What Users Can Expect Through This Acquisition:
•Faster onboarding and streamlined KYC processes
•Access to a wider range of crypto assets and trading features
•Improved tools for buying, selling, sending, and receiving cryptocurrencies
•Enhanced customer support across more countries and time zones
A Continental Vision for Crypto
The integration of Roqqu and Flitaa isn’t just a tactical business decision, it’s a visionary leap aimed at uniting Africa’s fragmented crypto markets and delivering seamless blockchain experiences for millions. By strengthening infrastructure, expanding access, and combining talent and technology, Roqqu is positioning itself and the African continent as a formidable player in the global digital asset economy.
Founded in 2018 by Uchenna Nnodum, the crypto platform operates as an app and web-based service, allowing users to buy, sell, and store multiple cryptocurrencies, with features like low-fee trading, fast withdrawals to local bank accounts, and global remittance to over 20 countries at zero fees. The platform supports over 58 cryptocurrencies, has over 1 million users, and processes more than 20 million transactions.
Roqqu has expanded its reach with regulatory approvals in South Africa and a European virtual currency license. The exchange’s expansion efforts are driven by its commitment to making remittances easier and faster for Africans in the diaspora. Roqqu CEO Benjamin Onomor explained that many Africans living and working abroad send over $5 billion yearly back home, which they have to do with a lot of stress and long waiting times.