Goodwell West Africa, a microfinance investment vehicle co-managed by investment manager Goodwell Investments and Alitheia Capital in Nigeria has invested Paga – the Lagos based mobile payments company.
Paga is a pioneering mobile money service launched in Nigeria in February 2011, after receiving approval from the Central Bank of Nigeria. With Paga, any person with a mobile phone or access to the internet is able to send cash, purchase airtime credit, pay bills, pay retailers and perform a variety of other transactions. Paga operates via a nationwide network of dedicated agents, which include several hundred agents associated with DStv, the leading provider of multi-channel pay television in Africa, with whom Paga has an exclusive partnership.
Goodwell Investments is an innovative impact investment firm focused on access to finance and sustainable development. It invests in entrepreneurial microfinance organisations on a socially and commercially sustainable basis. Its microfinance investments are focussed on two regions: India and West Africa. In West Africa, Goodwell works in partnership with Alitheia Capital based out of Lagos.