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Home Fintech

Paga, a mobile payments company, is aiming for a $1 billion valuation and plans to expand beyond Nigeria

Tech Gist Africa by Tech Gist Africa
06/15/2021
in Fintech, Innovator of the Week, News - West Africa, Payment
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Paga Tayo Oviosu

Paga Tayo Oviosu

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Paga, a mobile payments startup based in Nigeria, aspires to be Africa’s next billion-dollar corporation.

There are 17 million unique users in the company’s ranks, ranging from consumers to businesses and entrepreneurs.

According to reports, the company’s expansion intentions go beyond Africa.

Tayo Oviosu, the company’s CEO, is looking outside Nigeria to expand to Mexico and Ethiopia, with the latter planned for 2022.

According to Oviosu, the firm handled $2.3 billion in transactions last year and $8 billion over the prior four years.

Oviosu also stated that Paga might reach a $1 billion valuation “within the next year or two.”

Paga’s operation revolves around a group of agents. These agents essentially perform the functions of a bank teller.

Clients are signed up for Paga accounts via the firm’s 27,000 agents stationed across Nigeria, who also assist customers with processing payments and organizing funds into a bank deposit.

Paga is also making its programming interface available to tech entrepreneurs.

It is also expanding its individual-services sector thanks to a partnership with Visa.

Read More on Tech Gist Africa:

 

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Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

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