Global payments company PayPal has partnered with Nigerian fintech firm Paga to expand access to international payments in Africa’s largest economy, the companies said on Thursday.
The partnership will allow Nigerian users to receive international payments, settle funds in local currency and gain broader access to PayPal’s global payments network, addressing long-standing limitations on PayPal services in the country.
Nigeria, Africa’s most populous nation, has one of the continent’s fastest-growing digital payments markets, driven by a young, tech-savvy population and rising participation in global e-commerce and freelance services.
PayPal said Nigeria is among the most entrepreneurial and globally connected markets in Africa, with a payments ecosystem mature enough to support cross-border commerce at scale.
Through the collaboration, Paga will leverage its local infrastructure and regulatory footprint to enable seamless settlement in naira, while PayPal provides access to its international merchant and consumer network.
Founded in 2009, Paga is one of Nigeria’s largest fintech companies, offering mobile payments and financial services to individuals and businesses. The company has positioned itself as a bridge between local financial systems and global commerce.
“This partnership expands global payments connectivity for Nigerians and supports the country’s growing digital economy,” said Tayo Oviosu, founder and chief executive officer of Paga, in an interview with CNBC Africa.
Fintech firms have played a central role in improving financial inclusion and facilitating cross-border transactions in Nigeria, as businesses increasingly look beyond domestic markets for growth.
The PayPal-Paga partnership comes as international payments companies intensify efforts to deepen their presence in Africa, betting on rising digital adoption, expanding internet access and the growth of small and medium-sized enterprises engaged in global trade.
