Paga Announces Major Leadership Transition Amidst Growth
Paga, one of Africa’s leading fintech companies, has announced a significant restructuring with Tayo Oviosu transitioning to Group CEO and Opeyemi Oyinloye stepping in as Acting CEO for Nigeria. This marks the first time someone other than Oviosu will lead Paga’s largest market.
The transition comes at a pivotal moment for Paga, which processed ₦17.1 trillion ($12 billion) in transactions last year—a 96% increase from the previous year. The company has recently expanded into US banking services for Africans and renewed its partnership with PayPal after two decades outside Nigeria.
New Direction Under Oviosu
As Group CEO, Oviosu will focus on:
- Expanding Paga’s reach across new African markets
- Developing investments in stablecoins, crypto, and AI
- Building out Paga Labs, the company’s division for emerging financial technologies
“Act 1 of Paga ended, and Act 2 is beginning,” Oviosu explained. “It became clear we needed someone else to manage day-to-day operations while I focus on our broader strategy.”
Oyinloye Takes Helm in Nigeria
Oyinloye’s appointment as Acting CEO was described as a natural evolution by Paga leadership, given his seven years of experience managing the company’s business operations. He will oversee Paga’s domestic expansion while ensuring continuity for customers and partners.
Future Vision: Africa’s Financial Infrastructure
Paga aims to become the “global financial services infrastructure for Africa,” enabling seamless payments across borders and supporting new technologies like AI-powered commerce. The company has raised $45 million in funding and plans a new round to support its expansion goals.
“We want users to be able to trade in China, pay someone in Vietnam, or make purchases in Rwanda—all through Paga,” Oviosu stated.