Paga Nigeria secures fresh investment
VALUE ADDED SERVICES| July 2, 2012, 1:20 p.m.
Paga announced that it had secured new investments fromAdlevo Capital, Omidyar Network, Acumen Fund, Capricorn Investment Group, and current investors Goodwell West Africa Microfinance Development Company.
Paga enables people to use mobile phones or internet access to send cash to anyone in Nigeria, buy or send airtime credit, pay bills, pay both online and physical retail stores (without cash notes or a debit card), and perform a variety of other transactions.
Paga is available on all mobile networks and is delivered to customers in collaboration with strong local banks and microfinance institutions, retailers and various other private and public sector organisations. Its network has grown to include over 850 agents in 19 cities.
Paga’s founder & CEO, Tayo Oviosu, said:“The business opportunity for Paga is huge, and it follows that the capital requirement to achieve our mission is also significant. A key requirement for success in our industry is having investors who share our vision and have the financial fortitude for such an undertaking."
"To date, we have been funded by individual investors and Goodwell. This new investment will enable Paga to scale our operations across Nigeria and allow us to build upon our front-runner position. We have carefully chosen our investors for their track record and the immense value they will bring towards accomplishing our mission.”
MORE VALUE ADDED SERVICES NEWS
Safaricom launches M-PESA bill manager serviceSafaricom has launched a new service known as ‘Bill Manager’ that will enable customers to manage and pay bills via M-PESA all in a single transaction. Read More
BankOne empowers 250 Microfinance BanksOne of Africa’s leading Information Technology platforms for micro finance banks, BankOne, has announced the signing up of its 250th client. Read More
Orange Money in France to allow money transfers to three African countriesOrange Money is available in Metropolitan France to enable Orange mobile subscribers in France to transfer money via their mobile to other Orange Money customers in Côte d'Ivoire, Mali and Senegal. Read More
Dar es Salaam gets UberDar es Salaam has become the 475th city to join in Uber’s growing global network. Read More
Carrefour signs up for Lipa Na M-PESACarrefour, the world’s second largest hypermarket chain, has today become the first retailer in Kenya to fully integrate Safaricom’s payments service – Lipa Na M-PESA – paving the way for the retailer to fully adopt M-PESA as a payments channel in Kenya. Read More
Tigo Insurance pays 10,000th claimantTigo Ghana says it paid over GHS 6.2 million to policyholders since the inception of Tigo Insurance in 2010. This was revealed during the presentation of a payment to its 10,000th claimant. Read More
Uber signs MoU with Ghana’s Transport MinistryUber, a technology company that connects riders and drivers at the touch of a button, has signed a memorandum of understanding with Ghana’s Ministry of Transport. Read More
Safaricom set to rival Uber with LitteCabsIn a move aimed at giving Uber a run for its money, Safaricom is in the preliminary stages of introducing its own tax app - LittleCabs. Read More
Uber launches in AccraUber has officially launched its taxi app in Ghana’s capital city Accra. Read More
M-PESA customers to access money through Equity Bank ATMs countrywideEquity Bank has partnered with Safaricom to launch a new mobile money transfer service that will see M-PESA customers access money from the bank's automated teller machines throughout the country. Read More
FEATURED STORYGovernment should encourage youths in ICT early
Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.