Lagos, Nigeria – 15 May 2025: Paga Group, a pioneer in Africa’s digital financial services sector, has once again been ranked among the Financial Times’ fastest-growing companies in Africa list.
This marks the third consecutive year Paga has earned a spot on the prestigious list—placing it in an elite group of just 18 companies to have achieved this distinction since the ranking began.
Compiled in partnership with Statista, the Financial Times annual ranking highlights companies driving economic transformation across Africa through rapid growth, innovation, and measurable impact.
Over the past 16 years, Paga has remained committed to its mission: to make it simple for one billion people to access and use money. What began as an agency banking pioneer has evolved into a robust digital payments and financial services ecosystem. Leveraging its best-in-class, multicurrency, highly scalable digital payments and financial services engine, Paga serves the ecosystem through three business lines: Paga (Consumer), Doroki (SME Merchant), and Paga Engine (Enterprise Infrastructure).
Today, Paga powers seamless personal payments, supports business operations across thousands of merchants, and delivers scalable technology infrastructure that empowers individuals and enterprises alike to thrive in the digital economy. As of March 2025, Paga has facilitated over 460 million transactions worth over ₦23 trillion ($44 billion) in transactions since its launch.
Paga promotes income growth and financial empowerment serving millions of customer wallets, saving Nigerians time and money. Over 29 million people have used Paga’s services, and Paga’s ecosystem has contributed to job creation at scale with over 1,000 direct jobs and 100,000 indirect jobs created. Through its enterprise infrastructure platform, Paga Engine, the company supports hundreds of enterprise clients. Meanwhile, its merchant platform serves merchants with over 100,000 points of presence and has impacted more than 300,000 lives who directly depend on the jobs created through the merchant network.
“We are honored to be recognized by the Financial Times and Statista for the third year in a row,” said Tayo Oviosu, Founder and CEO of Paga Group. “This milestone coincides with our 16th anniversary, a testament to our team’s dedication and the trust our customers place in us. We’ve built a profitable business scaling at venture growth levels and are on an exciting trajectory. By 2050, Africa’s population will double from 1.3 billion to approximately 2.5 billion, making it the fastest-growing population globally. The continent will have the world’s largest middle class, with over 500 million people. We want Africa’s future to be bright, and we are building for it today. Paga is building the best-in-class global financial ecosystem to drive income generation and financial resilience for Africa’s growing middle class, starting with Nigeria.“
Paga continues to strengthen and innovate on the financial infrastructure that empowers individuals, merchants, and enterprises to fully participate in Africa’s digital economy. Paga is committed to help Africans have The Freedom to Thrive.
About Paga
Paga Group LTD (UK) is a leading fintech building financial freedom for Africa’s underserved middle class. Paga was founded in 2009 and is on a mission to “make it simple for one billion people to access and use money.” Through its consumer app (Paga), merchant platform (Doroki – www.doroki.com), and enterprise infrastructure (Paga Engine – www.pagaengine.com), Paga is creating tools that make it easy for people to pay, get paid, and access digital financial services at scale.
Learn more at paga.com
Contact information:
Nike Faroun
Head of Growth and Brand Strategy
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