By Payaza, a leading Nigerian fintech, has fully repaid N20.3 billion ($13.5 million) of its commercial paper obligations ahead of schedule using internal cash flow, while securing triple credit rating upgrades from top agencies.
This news marks a milestone in African fintech financial discipline and operational excellence.
Payaza’s landmark achievement of redeeming N20.3 billion ($13.5 million) debt entirely from internally generated revenue challenges the common narrative that African fintechs rely on external funding.
This sets a new standard for sustainable growth within the continent’s fintech ecosystem and reflects strong financial discipline amidst broader economic challenges.
In conjunction with the debt redemption, paying off its commercial paper obligations ahead of schedule, Payaza secured triple investment-grade credit ratings – upgraded to an “A” long-term and “A1” short-term rating by Nigeria’s DataPro, a “BBB-” long-term and “A3” short-term rating from Global Credit Ratings (GCR), a Moody’s affiliate, and a solid “Bbb” rating with stable outlook from Africa’s largest rating agency, Agusto & Co.
These ratings underscore broad international and local confidence in Payaza’s accountability, resilience, and capacity to meet obligations.
Founded by Nigerian entrepreneur Seyi Ebenezer, Payaza has grown from a regional payments provider to a pan-African fintech infrastructure company operating in 21 countries.
The company offers innovative payment collections, cross-border disbursements, and embedded finance APIs, benefiting SMEs, traditional merchants, and digital startups.
For Nigeria and Africa at large, Payaza’s success demonstrates that indigenous fintech companies can achieve global standards of governance, financial sustainability, and operational discipline.
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