Paga celebrates ten years of serving Nigeria with digital payment. TC Daily, a newsletter, summarizes the numbers: “In 10 years, the company has grown to a team of 460 and counting, recruited over 20,000 agents, served over 12 million customers, process over 72 million transactions worth $4.6 billion in value.”
Today, April 3rd, 2019 marks 10 years from when I embarked on the Paga journey. A journey that began because of my frustration with carrying cash everywhere in Nigeria and not being able to make payments efficiently.
I did a video on Paga in 2017.
In today’s videocast, I discuss the rise of Paga. Paga is a fintech company based in Lagos, Nigeria. It started as a mobile money company but quickly pivoted when it realized that mobile money was not (quickly) taking shape in Nigeria. Paga is growing and is well positioned to become a very important financial institution in Nigeria. Its numbers, revealed by its Founder, are better than most public-traded Nigerian insurance companies and in coming years, I expect it to overtake most banks in profitability.