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In the last decade, fintech has had a phenomenal impact on Africa’s key sectors, creating an enabling environment that opens up the value chain and promotes efficiency across various sectors.
One of the drivers of that impact is Paga, a Nigerian mobile payment company founded by Tayo Oviosu in 2009 and publicly launched in 2011. Paga acts as a mobile wallet, allowing users to digitally transfer money, make payments and receive money via their mobile devices.
The platform was launched in Nigeria to create a means for financial services to be made available to all, taking advantage of the system’s cash build-up. Users can easily and conveniently access Paga’s financial services via the mobile app or online through the company’s website.
Leveraging emergent technology, Paga makes it possible for the unbanked to carry out financial transactions outside the traditional banking system. Paga also offers basic banking services like wire transfers, savings accounts, and merchant services for individual users and businesses.
With a focus on serving emergent markets, Paga aims to expand from Nigeria to other African markets and eventually take its services to the rest of the world.