Former Chairman Goldman Sachs Asset Management and renowned Economist, Mr. Jim O’Neill, most famous for coining the BRIC and MINT acronyms has invested in Tayo Oviosu’s Paga, which is behind one of the leading mobile money platforms in Nigeria.
The two are said to have met when Oneill interviewed Oviosu as part of a series on BBC radio discussing the MINT group (Mexico, Indonesia, Nigeria, Turkey) which he believes are the next set of countries that will growth markets that will shape the world’s economy in the coming decades.
“On meeting Tayo and understanding his vision for Paga it was very obvious that we both shared the belief that with the right approach Nigeria possessed the potential for huge economic growth. It is clear to me that Nigeria, Africa’s largest economy, needs payment systems that work for both businesses and individuals for her to reach her potential. Paga delivers greater convenience to businesses and individuals whether they are banked or un-banked. I have chosen to invest in Paga because the team has demonstrated their ability to execute on a bold vision that can have catalytic impact. It is an exciting time for Nigeria and I believe in Tayo and the team to achieve their bold vision to become the number one way to pay and get paid in Nigeria.” Oneill said according to the statement released by Paga.
The nature or amount of the investment was not disclosed in the official statement.
Featured image via Telegraph