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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ANECDOTE

Field Research On Lagos Streets

  • Tayo traveled local buses and visited street vendors to understand cash flows firsthand.
  • He found small stalls handling millions in cash and realized the scale of informal transactions driving his product idea.
INSIGHT

Purpose Beats Short-Term Hype

  • Long-term purpose and a steady strategy kept Paga resilient against aggressive competitors.
  • Tayo emphasizes building sustainable profitability rather than pursuing headline growth at all costs.
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.
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