Nigerian Payments App Paga May Be Africa’s Next Unicorn

SourceYahoo News
SectorFinancial Services
CountryMiddle east

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(Bloomberg) —

Nigeria’s biggest mobile payments company is vying to become Africa’s next unicorn, and its ambitions now stretch beyond the continent.

Paga, whose backers include U.S. billionaire investor Tim Draper and former Goldman Sachs Group Inc. economist Jim O’Neill, boasts 17 million unique users including tech entrepreneurs, businesses and individuals in Africa’s most populous nation.

Modeled after PayPal, it processed $2.3 billion worth of transactions in 2020 and $8 billion during the past four years,...read more...