Paga, one of Nigeria’s fastest growing Fintech company has processed 335 million transactions, worth over N14 trillion or $32 billion, in the past 15 years.
The Paga statistic attests to Nigeria’s growing adoption of mobile money. Recall that the Nigeria Inter-Bank Settlement Systems (NIBSS) recently disclosed data showing that transactions of N17.2 trillion were handled by the nation’s mobile money providers, which include Paga, Opay, and Palmpay.
Speaking at an event to mark the company’s 15th anniversary, in Lagos, Tayo Oviosu, the firm’s founder and CEO, disclosed that Paga currently has 23 million users.
“At the end of March, 2024, we had processed 335 million transactions since inception, worth over N14 trillion or $32 billion and 80 per cent of that we did in the last five years. This last quarter was our best quarter ever,” Oviosu revealed.
Listing the company’s accomplishments over the previous 15 years, Oviosu stated that creating jobs has enabled the organisation to empower a number of people. He claimed that the company has employed 1,000 people directly and over 100,000 people indirectly through its network of agents around the nation.
The founder of Paga stated that the company has grown beyond the agent network, servicing 150 enterprises and offering platform-as-a-service to others as a means of infrastructure provision.
