Paga Group, Africa’s leading financial services infrastructure provider, has announced a major evolution in its leadership structure as it celebrates 17 years of operations, signaling the end of its foundational chapter and the beginning of a bold new era focused on continental growth and cutting-edge technology.
The company, which launched in 2009 as a consumer payments platform built on a nationwide agent network, has transformed into a full-stack financial services infrastructure provider. Today, it powers enterprises through Paga Engine, serves consumers via the Paga app, and supports merchants with Doroki.
“Act 1” delivered impressive results. Between 2021 and 2025, the total value of transactions processed surged 17-fold to $11 billion across 169 million transactions in 2025 alone — equivalent to more than $1.5 billion processed monthly.
Net revenues grew fivefold over the same period, underscoring the strength and scalability of its business model. Paga Engine now supports over 265 active blue-chip enterprise clients, including global giants such as PayPal, Meta, Amazon, LemFi, Tencent, Pesa, and Verto. The company was also named one of Africa’s Fastest Growing Companies by the Financial Times and Statista for three consecutive years (2023–2025).
Act 2 will center on three core strategic priorities:
Paga Labs will serve as the dedicated innovation engine, scouting for frontier technologies, preparing them for market, and integrating them into the core platform at the optimal time. This reflects Paga’s belief that the next decade of African finance will be defined by innovative forms of money movement, with the company well-positioned to lead.
To execute this next phase with greater speed and focus, Paga is fully operationalizing its Group structure and making the following key leadership appointments:
Tayo Oviosu, Paga’s founder, remains Group Chief Executive Officer and Chairman of both the Group Board and the Paga Nigeria Board. He will now dedicate his efforts exclusively to high-level expansion priorities: leading Paga Labs (including work on stablecoins, AI, and cryptocurrency), spearheading new market entries across Africa, and driving fundraising initiatives.
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Jay Alabraba, co-founder, has been appointed Group Director of Special Projects. In this role, he will initially focus on expanding the company’s lending offerings and collaborate with Oviosu on new market entry strategies, allowing dedicated senior attention to select high-impact opportunities.
Ope Oyinloye, who has been with Paga for seven years, takes on the newly created position of Group Chief Operating Officer. He will oversee all of the company’s established businesses. Oyinloye will also serve as Acting CEO of Paga Nigeria, pending regulatory no-objection from the Central Bank of Nigeria (CBN). His elevation highlights the depth of leadership talent the company has developed over the past decade.
Tayo Oviosu, Group CEO and Chairman of Paga Group, commented:
“Seventeen years ago, we set out to make it simple for a billion people to access and use money. That mission has never changed, but what we are building to fulfil it keeps evolving. Act 1 proved that we could build a profitable, high-growth infrastructure business that the world’s leading companies trust. Act 2 is about taking that infrastructure to its full potential: connecting Africans to global financial rails, moving into new markets, and leading the next wave of financial technology. These leadership changes give us the structure and focus to move faster and execute at the level this moment demands.”
