PAGA: The Next Big Thing In Africa

Eyitayo David Oviosu, simply Tayo Oviosu is the founder and CEO of Paga, a mobile payments company dealing with the digitalization of cash in emerging economies.

Paga founded in 2009 now processes trillions of Naira today becoming a fintech giant from Africa spreading its wings outside the continent.

With U.S. billionaire investor Tim Draper and former Goldman Sachs Group Inc. economist Jim O’Neill, the fintech company handles the transactions of about 17 million users including tech entrepreneurs, businesses and individuals in Africa’s most populous nation.

The business model borrowed from PayPal processed $2.3 billion worth of transactions in 2020 despite the coronavirus outbreak and $8 billion for the past 4 years.

By 2022 to 2023, the CEO boasts of Paga’s valuation as not less than a billion dollar,

“in the next year or two,” he said in an interview. But wouldn’t disclose the company’s current valuation.

Tayo is one among the highly-praised African entrepreneurs passionately creating opportunities to help individuals bring their ideas to life and build successful businesses. This led to the co-creation of Kairos Angels.

In the league of a billion dollar valuation,

Africa also boasts of fintech companies such as Flutterwave partnering with PayPal, Interswitch, and other firms.

Tayo has the eyes of an eagle. Currently he is looking at Mexico and Ethiopia where Paga could provide solutions to serious money transaction problems in areas with poor or no banking services.

Paga lauching into Africa’s second-most populous nation, Ethiopia, is indeed a big one for next year. The company is also on a game-changer deal with Visa Inc. which allows payments by money transfer and a QR code among others.

“It has significant potential to grow our revenue,

“We are focused on making it simple for people to pay, get paid, shop and sell,

“I know the runway to where we are projecting to be from where we are today,” Tayo said.

By Elijah Christopher

Elijah Christopher

Elijah Christopher is a journalist at A New Touch Of Africa, is also a creative writer, a poet, and an IT enthusiast. He contributed to the collaborative poem written in celebration of Edwin Morgan Centenary, the first Glasgow poet laureate and Scottish national poet from the University of Glasgow. He loves meeting people and learning about new places, cultures, events, and lifestyles.

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