The Paystack effect
How the biggest start-up acquisition out of Nigeria is resonating across Africa's Fintech scene.
How the biggest start-up acquisition out of Nigeria is resonating across Africa. Last year Nigeria saw its biggest ever start-up acquisition - a multi million dollar deal for digital payments company Paystack. The result was a massive shift in the minds of entrepreneurs and investors in Africa’s Fintech scene. The company which processes more than half of all online payments in Nigeria, was started by two graduates in their 20s five years ago. It ended in a $200 hundred million dollar deal with Stripe, the US-based payments software company. Tamasin Ford speaks to Chilufya Mutale, the co-founder and CEO of PremierCredit in Lusaka, an online micro-lending platform operating in Zambia and Zimbabwe. Plus Chijioke Dozie, the co-founder of Carbon, a PanAfrican digital bank operating in Nigeria, Kenya and Ghana who says the Paystack acquisition is not only inspiring for existing entrepreneurs, it will encourage more people to join the Fintech scene. And to Katlego Maphai, the co-founder and CEO of Yoco in Cape Town, a digital payments company for small businesses in South Africa. Plus Maya Horgan Famodu, the founder and Managing Director at Ingressive Capital, a Venture Capitalist Fund based in Lagos in Nigeria which targets early stage start-ups across Sub-Saharan Africa and were an early investor in Paystack. And to Amandine Lobelle, the head of business operations at Paystack.
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