PAGA REACHES $14 BILLION MILESTONE


African mobile payments company Paga took to Linkedin to announce that it has processed about ₦6.1 trillion ($14 billion) since January 2012. 

In the celebratory post, the UK-headquartered group demonstrated how much its processing volume has grown.

An exponential growth

Growth started slowly.

It took the company 99 months— January 2012–March 2020—to process the first ₦2 trillion ($4 billion). The company processed its second ₦2 trillion ($4 billion) over the next 22 months, hitting the figure in January 2022. 

Its latest ₦2 trillion transaction processing milestone took them only eight months to hit, recorded between February and September 2022.

An award winner

Paga has built a robust payments infrastructure with significant impact in Nigeria, its first and largest market. It is on track to have about 50 million Nigerian adult users in the next five years by providing access to financial services via its online and offline channels. 

Its offline channel entails over 140,000 agent points which are used by over 20 million users. Its online channels include the Paga app and a USSD code, *242#, and Doroki for merchants. Recently, in recognition of its achievements in mobile wallets and remittance services, the company was named on the CB Insights’ Fintech 250 List.

TECHCABAL