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InterviewsJanuary 27 2023

Digital trajectory in Nigeria, then the world for Paga

Tayo Oviosu, founder of payments provider Paga, on the further development of digital financial services in Nigeria, the challenges and opportunities in Ethiopia, and the impact of the global economic slowdown on funding opportunities for African fintech companies. John Everington asks the questions.
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Digital trajectory in Nigeria, then the world for Paga“It took us 99 months to hit our first two trillion milestone, 22 months for the second two trillion, and just eight months for the third.”

Payments and financial services provider Paga was founded in Nigeria in 2009 by Tayo Oviosu, a former vice-president of west African private equity fund Travant Capital Partners. Having built a customer base of more than 20 million in Nigeria, the company has been awarded a licence to operate in Ethiopia and is targeting further expansion elsewhere in Africa.

Q: How would you characterise the status of digital financial services in Nigeria as of early 2023?

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John Everington is the Middle East and Africa editor. Prior to joining The Banker, John was the deputy business editor of The National in the UAE, and has also worked for Dealreporter, Arab News and The Telegraph. He has also covered the telecom sector in Africa and the Middle East, living and working in Qatar and the UK. John has a BA in Arabic and History and an MA in Middle Eastern Studies from the School of Oriental and African Studies (SOAS) in London.
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