It took a while to catch on but Nigerians are finally using mobile money. Over the past decade, financial institutions and telecoms operators, sometimes in collaboration, as well as standalone firms have tried to deploy mobile money services in Africa’s largest economy with mixed success.
Committed to solving payments for businesses and individuals, Paga has announced a partnership with technology company, Uber.
When Tayo Oviosu quit his job in the US technology sector to return to Nigeria in 2008, he was a man in search of an idea.
Despite its success in other parts of Africa, mobile money has not fully taken off in Nigeria, Africa’s largest economy.
Paga, Nigeria’s leading mobile payment company, announced this week the completion of a $13 million Series B financing led by Adlevo Capital.
At 170 million people including a growing middle class and a giant youth market, Nigeria contains Africa’s largest population.
Tayo Oviosu’s mobile payment service, Paga launched in Nigeria in April 2009, about 5 years ago.