Paga, a mobile services firm that is based in Nigeria, has built an infrastructure that now powers over 100 companies by enabling them to access capital.
“As Paga, we solve the problem of financial stagnation by building a network of retail agents for those who are not digitally- savvy. For those who are digital, one can use a mobile phone application. So we solve and bring access to financial services to consumers across Africa,” said Tayo Oviosu, CEO & Founder Paga.
He said Paga has set up a large infrastructure network that now supports many firms that now have access to the fintech platform and services. Oviosu said that most people in Africa, including those that are banked, still use cash to do their transactions and still do not have access to proper financial services.
Paga is currently only operational in Nigeria but has a team in Ethiopia and has plans to expand its reach to other African countries in the future.
“When thinking about where to expand to, we look at a country’s regulatory framework and how open that economy is open to foreign companies as we also seek for the right partners to work with. But our priority now is to ensure that the Nigerian business is sound before thinking of any future expansions,” said Oviosu.
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