“Cash is still king” in African countries. Many people rely solely on cash to handle transactions, but that may soon change. Tayo Oviosu, founder and Group CEO of Pagatech Limited, a mobile payments company that is focused on digitizing cash in emerging economies, has an idea to change that. Paga, a mobile money operator in Nigeria, has plans to migrate cash-reliant consumers in Nigeria and Ethiopia (and the world) onto its brand-new digital platform, one that also allows users to digitally access and use money, and make it simple for “1 billion people to access and use money.” Today, Paga has 16.3m users on its platform.
Founded on “the simple belief that digital technology can be leveraged in building an ecosystem that enables people to digitally send and receive money and offer simple financial access for everyone,” Paga is expanding to new markets, and not just in Africa. “We are excited to take technology built in Africa to the world,” Oviosu said when announcing that Paga is launching in Mexico.”