This photo was taken while sending money via a Paga agent in Lagos, Nigeria in February 2012. Paga, which only recently started operating in Nigeria, is growing quite rapidly with over 441,000 people having used the service since it officially got full Central Bank approval in 2011. The young and dynamic Paga Founder & CEO, Tayo Oviosu, definitely has a clear vision and commitment to offering mobile money and mobile payments across Nigeria. Of all the markets I have visited, Nigeria definitely has the most players and different platforms. Rolling out agent networks and building client adoption and trust will be one of the greatest challenges in the Nigerian mobile money space, but with people like Tayo Oviosu and his team, Nigeria definitely shows some promise.
Photo Credit: Farouk Kurawa, Director, Agriculture Finance, USAID/Markets II