This was the position reached during a panel session titled “Powering Commerce: the systems, the infrastructures and the in-between” moderated by Osarumen Osaruyi, founder, Subtext, at the Future of Commerce Summit 2.0, organised by Glovo recently.

Speaking at the session, Olakunle Ogungbamila, co-founder of ORDA Africa, stated that it was important for businesses to build software or products that can be easily adjusted to meet market needs. According to Ogungbamila, the success or effectiveness of any software depends solely on the people who are meant to use it.

“People who are going to use the software most of the time will make you change how your software behaves. When we started ORDA, one of the things we built was direct integration with delivery products. We built our product with the intention of making it seamless, but the truth is that we have learnt a lot from the user experience, and in the end, users will challenge how your software behaves for the better,” he said.

Also speaking, Opeyemi Oyinloye, the group chief operating officer, Paga Group, explained that the organisation has built the right systems to ensure that customers interested in making any purchase do so seamlessly.

One of the panelists, Rotimi Thomas, chief executive officer of Sunfi, noted that an easy transition to renewable energy at low cost has kept many businesses alive amid rising fossil fuel costs. He stated that many organisations are now embracing solar as an alternative to fossil fuel, with players devising different payment plans.

Also speaking at the session, Sabestine Osika, chief executive officer of GIG Logistics, noted that the integration of technology into the shipments business is a game-changer that has helped address major challenges confronting the business.

He stressed that the company was already considering partnering with renewable energy companies to address the perennial power supply problem faced by most businesses in the e-commerce ecosystem.

The changes mark the close of a transformative first chapter and the formal launch of Act 2: an ambitious phase defined by deepening Paga’s infrastructure to connect Africans to global financial rails and commerce, new technology frontiers, and geographic expansion across the African continent.

The Paga of today is fundamentally different from the company that launched in 2009. What began as a consumer payments business built on a nationwide agent network has evolved into a full-stack financial services infrastructure provider, offering its platform to enterprises through Paga Engine, while continuing to serve consumers through the Paga app and merchants through Doroki.

Act 1 closed with a formidable track record:

• Total value processed grew 17x between 2021 and 2025, reaching $11 billion across 169 million transactions in 2025 alone, equivalent to over $1.5 billion processed monthly.

• Net revenues grew 5x over the same period, demonstrating the durability and scalability of the business model.

• Over 265 active blue-chip enterprise clients now build on Paga Engine, including PayPal, Meta, Amazon, LemFi, Tencent, Pesa, and Verto.

• Recognised by the Financial Times and Statista as one of Africa’s Fastest Growing Companies for three consecutive years: 2023, 2024, and 2025.

Act 2 is built on three strategic imperatives: deepening Paga’s financial infrastructure offering to connect Africans to both local and global financial rails; launching and scaling emerging technologies from Paga Labs, including stablecoins, cryptocurrency, and artificial intelligence; and entering new African markets where Paga’s infrastructure will deliver the greatest impact.

Paga Labs serves as the company’s dedicated engine for frontier innovation, identifying emerging technologies, bringing them to market-readiness, and integrating them into Paga’s core offering at the right moment.

It reflects Paga’s conviction that the next decade of African finance will be shaped by new forms of money movement, and that the company is uniquely positioned to lead that shift.

In order to execute Act 2 with the speed and focus it demands, Paga Group is fully operationalising its Group structure and announcing the following leadership appointments:

Tayo Oviosu, group chief executive officer & chairman of the Group Board and the Paga Nigeria Board

Paga’s founder will focus exclusively on the group’s expansion priorities: leading Paga Labs – its work on stablecoins, AI, and cryptocurrency; spearheading new market entry across Africa; and driving fundraising. Oviosu retains his roles as Group CEO and Chairman of both the Group Board and the Paga Nigeria Board.

Jay Alabraba, group director of Special Projects

Co-founder Jay Alabraba takes on a new mandate as Group Director of Special Projects, initially leading the company’s expansion into lending and collaborating with Oviosu on new market entry.

The role reflects Paga’s intent to pursue select high-impact opportunities with dedicated senior focus.

Ope Oyinloye, group chief operating officer & CEO, Paga Nigeria

With seven years at Paga, Oyinloye steps into the newly created role of Group COO with responsibility for all of Paga’s established businesses.

He also assumes the role of CEO of Paga Nigeria in an acting capacity, pending CBN No-Objection. His appointment reflects Paga’s confidence in the leadership depth it has built over the past decade.

“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,” said Tayo Oviosu, group chief executive officer & chairman, Paga Group.

“Paga has spent seventeen years becoming the kind of company that makes things work quietly and at scale. That is exactly the competency Act 2 requires. I am honoured to step into the Group Chief Operating Officer role at such a pivotal moment, and committed to maintaining the operational excellence and client trust that define Paga, while helping the business grow into its next chapter.” said Ope Oyinloye, the incoming group COO &  CEO, Paga Nigeria.

• Over 4.5 million African immigrants in the U.S. face barriers to basic banking.
• Remittances to Nigeria alone hit US$21 billion in 2024 – but sending money home remains expensive and complex.
• Paga is breaking down those barriers with simple, inclusive, digital banking built for the diaspora.

Paga Group, a UK-headquartered financial technology company and one of Africa’s fastest-growing companies, has expanded into the US market with digital banking for Africa’s diaspora in the U.S.

Created in partnership with a US-regulated bank, Paga’s new service provides Africans in the US with unprecedented access to international banking tailored to their unique needs.

Through the introduction of a new US-domiciled account, customers can now open and manage a fully regulated US bank account, and conduct banking transactions, in the US, using only a valid form of identification and a US residential address.

The rollout begins with Nigerians in the US, representing the first step in Paga’s wider international growth strategy.

The initiative aims to remove barriers to cross-border finance and deliver inclusive, modern banking solutions to Africans around the world.

“Millions of Africans abroad face unnecessary barriers to basic financial services. Opening a bank account, saving in a stable currency, or sending money home is often expensive, complicated, or out of reach. In the United States alone, over 4.5 million African immigrants navigate a system that was never designed for them. We are breaking down those barriers,” said Tayo Oviosu, founder and group CEO of Paga.

The Nigerian-born immigrant population in the US has more than doubled over the past two decades, growing at an average rate of about 4.8% per year and reaching 476,000 in 2023 . In 2024, remittances to Nigeria reached approximately US$21 billion, up from about US$19.5 billion in 2023.

These inflows demonstrate the critical role diaspora communities play in supporting families and driving economic growth at home.

The account offers both physical and virtual Visa debit cards, integrating seamlessly with Apple Pay, Google Pay, and Plaid, which allows Paga US account holders to link third-party apps, such as Robinhood and Venmo, among others.

Customers can also send money to US or Nigerian bank accounts, with plans to expand to additional countries soon.

Unlike remittance products, Paga is built first and foremost for banking and payments – helping Africans participate freely in global commerce. The initial rollout focuses on people who live across two worlds – particularly the Nigerian diaspora who still have ties at home – enabling them to use one wallet.

The launch is another milestone in Paga Group’s mission to make it simple for one billion people to access and use money, reinforcing its role as a leading force in building Africa’s financial infrastructure for the future.

“Paga’s US dollar account gives users access to an FDIC-insured current account, connected to the financial tools they use every day. It is simple, inclusive, and built for real-life needs. We are putting control back in the hands of the diaspora and laying the foundation for borderless banking for Africans everywhere,” added Mr. Oviosu.

Eligible users can download the Paga app using this link.