Nigeria payments firm eyes unicorn status

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South Africa Headlines News

Paga has 17- million unique users and plans to expand to Ethiopia and Mexico

Emele Onu

Paga, whose backers include US billionaire investor Tim Draper and former Goldman Sachs economist Jim O’Neill, boasts 17- million unique users including tech entrepreneurs, businesses and individuals in Africa’s most populous nation. Oviosu, who returned to Nigeria from the US more than a decade ago with a Stanford MBA and experience at companies such as Cisco Systems, would not disclose the company’s valuation.

Deployed across Nigeria, the company’s 27,000 agents are registering new customers for Paga accounts and helping them process payments or put cash into a bank deposit. Paga is also making its programming interface available to tech entrepreneurs for payments while expanding its consumer business through the partnership with Visa.

 

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