Paga Group, one of Africa’s fastest-growing financial technology companies, has announced a major milestone with its expansion into the United States market. Headquartered in the UK, Paga is launching a new digital banking solution designed specifically for Africans living abroad, beginning with the Nigerian diaspora in the US. This move underscores Paga’s mission to simplify financial access for one billion people and reflects its commitment to addressing the real-life challenges faced by millions of Africans navigating foreign financial systems.
The new service, built in partnership with a US-regulated bank, offers Africans in the United States the ability to open and manage fully regulated US bank accounts with just a valid form of identification and a US residential address. Customers will also enjoy the flexibility of both physical and virtual Visa debit cards, seamlessly integrating with Apple Pay, Google Pay, and Plaid, enabling access to popular platforms such as Robinhood and Venmo. Beyond this, the account allows users to send money to US or Nigerian bank accounts, with expansion to additional countries already in the pipeline.
This launch is especially significant for the Nigerian community in the US, which has grown rapidly from just 25,000 in 1980 to nearly 760,000 by 2023. Remittance inflows to Nigeria reached approximately US\$21 billion in 2024, highlighting the critical role diaspora communities play in supporting families and fueling economic growth back home. Paga’s solution addresses longstanding barriers faced by immigrants, including costly and complicated banking processes, offering instead a simplified and inclusive platform.
Unlike traditional remittance services, Paga’s model is built primarily for banking and payments, positioning Africans abroad to participate more fully in global commerce. This is particularly transformative for those who live across two worlds, such as the Nigerian diaspora, who require a seamless connection between their financial lives abroad and their obligations at home. By creating a single wallet, Paga is bridging the gap and empowering Africans abroad with control over their financial choices.
Tayo Oviosu, Founder and Group CEO of Paga, emphasized the company’s mission to break down unnecessary barriers in financial access. He highlighted that millions of Africans abroad face challenges opening accounts, saving in stable currencies, and sending money home. Paga’s US-dollar accounts, FDIC-insured and linked to everyday financial tools, directly respond to these needs. This initiative marks another milestone in Paga’s journey to build Africa’s financial infrastructure for the future.
Through this bold step, Paga Group is reinforcing its role as a trailblazer in African fintech, reimagining diaspora banking with solutions that are practical, inclusive, and globally relevant. By prioritizing innovation, accessibility, and cultural context, Paga is not only empowering Africans in the US but also laying the foundation for borderless banking solutions that can serve diaspora communities across the world.
