Paga Group has announced a major leadership restructuring, marking 17 years of operation and signalling a strategic shift toward deeper financial infrastructure development, emerging technologies, and expansion across Africa.
The fintech company said the changes represent a transition from its foundational phase into a new growth chapter, known as ‘Act 2’, focused on connecting Africans to global financial systems, scaling innovation, and entering new markets.
To support this transition, the company announced key leadership changes. Tayo Oviosu will continue as group chief executive officer and chairman but will shift his focus to leading Paga Labs, driving geographic expansion, and overseeing fundraising efforts.
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Jay Alabraba, co-founder, has been appointed group director of Special Projects, where he will initially lead the company’s expansion into lending and support new market entry initiatives.
Ope Oyinloye has been named group chief operating officer and will oversee Paga’s existing business operations. He also assumes the role of chief executive officer of Paga Nigeria in an acting capacity, pending regulatory approval from the Central Bank of Nigeria.
Speaking on the transition, Oviosu said the company’s mission remains unchanged but its approach continues to evolve.
“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,” he said.
Oyinloye added that his focus will be on sustaining operational excellence while scaling the company’s next phase of growth.
With the new structure in place, Paga is positioning itself to play a more significant role in shaping the future of financial services across Africa, particularly as digital payments, blockchain technologies, and AI-driven solutions gain traction across the continent.
Paga has since evolved into a full-stack financial services infrastructure provider. Its offerings now span enterprise solutions through Paga Engine, consumer services via the Paga app, and merchant tools under Doroki.
The company’s first phase delivered significant growth. Between 2021 and 2025, total transaction value processed increased 17-fold to $11 billion across 169 million transactions in 2025 alone, with more than $1.5 billion processed monthly.
Net revenues grew five times within the same period, underscoring the scalability of its model.
Read also: How Paga increased transaction volumes in four years
Paga also expanded its enterprise footprint, with over 265 clients which include global firms such as PayPal, Meta, Amazon, LemFi, Tencent, Pesa, and Verto building on its infrastructure.
The company was further recognised by the Financial Times and Statista as one of Africa’s fastest-growing companies for three consecutive years from 2023 to 2025.
As part of its new strategic direction, Paga outlined three priorities which are strengthening its financial infrastructure to connect local and global payment systems; advancing emerging technologies such as stablecoins, cryptocurrency, and artificial intelligence through its innovation arm, Paga Labs; and expanding into new African markets.
