Today, Paga, an innovative financial services platform, announces a US$2 million grant from EFInA to develop and deliver low cost financial products through Paga's nationwide agent network.
Paga is a mobile money transfer service in Nigeria, launched in February 2011 and regulated by the Central Bank of Nigeria. The company's initial set of products are delivered to meet critical needs of the Nigerian public: ability to transfer money fast and reliably to anyone, pay bills, top-up airtime or pay merchants safely. Paga delivers these services via a nationwide network of agents, the mobile phone, and internet.
EFInA is an independent, professional and non−profit organization funded by the Bill & Melinda Gates Foundation and the United Kingdom Department for International Development (DFID). The organization was set up in late 2007 with a purpose to promote pro-poor financial sector development and financial inclusion in Nigeria.
