Afropolitan

Ex–Silicon Valley Engineer: The Brutal Truth About African Fintech They Don’t Want You To Know

Dec 3, 2025
Guest
Tayo Oviosu
Tayo Oviosu, the founder and CEO of Paga, is a pioneer in African fintech with a vision for financial inclusion. He shares insights on the struggles of building digital payments in Nigeria, revealing the hidden challenges posed by local regulations and economic conditions. Tayo discusses the critical need for patient capital in Africa and how diaspora identity can be an advantage. His reflections on the long path to success and the importance of resilience offer valuable lessons for aspiring entrepreneurs and investors in the continent's evolving landscape.
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ADVICE

Fundraise Through Relationships Early

  • Bring friends and former colleagues into early rounds rather than excluding them.
  • Do great work where you are because relationships can lead to key early investors and introductions.
ANECDOTE

A Single Introduction Opened Doors

  • An old boss emailed Tim Draper about Paga and opened doors that led to early investment.
  • That introduction triggered diligence and later partnerships that endured into product collaborations.
INSIGHT

Agents As Community Distribution

  • Paga used local shopkeepers as agents to digitize cash flows at scale.
  • Training community 'Baba' agents to perform transactions brought mass-market trust and distribution.
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