Nigeria's Paga will commence its plans to expand in Ethiopia in 2022, and is also considering developing a crypto-currency product in Africa outside Nigeria, CEO Tayo Oviosu announced.
Modeled after PayPal, Paga is a digital payments platform that has processed $8 billion during the past four years and boasts over 17 million unique users. The company aims to solve the use of cash and bring access to finance to the developing world.
With a license to operate in Ethiopia and 40 employees on the ground, the company plans to begin operations in Ethiopia in the first half of 2022.
The move comes a little over a year after Paga raised a $18 million series B round and announced its intent to expand globally. The company previously acquired Apposite, an Ethiopian-based software development start-up, and named Adam Abate the CEO of Paga Ethiopia.