Goodwell partners with Alitheia to invest in Nigeria mobile money firm

Goodwell West Africa in partnership with Nigeria-based Alitheia Capital has completed an investment in the Nigerian mobile money start-up Paga.

According to reports, Paga was started in February, after receiving approval from the Central Bank of Nigeria.

According to Paga CEO Tayo Oviosu, the new investment would strengthen the company to deliver innovative and universal financial access services to the underserved or excluded, especially in the areas of payments and savings via the mobile phone.

With Paga, any person with a mobile phone or access to the internet can send cash, purchase airtime credit, pay bills, pay retailers and perform a variety of other transactions.