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Payaza Africa Limited has returned to the debt market with plans to raise about N50 billion ($33 million) through the issuance of Series 1 and Series 2 Commercial Papers.
The offer, which opened on February 23, will close on February 26. It is being issued under the company’s broader N150 billion ($99 million) Commercial Paper Programme and is intended to support Payaza’s working capital needs as it scales operations.
This is not the company’s first outing. Since inception, Payaza has raised more than N70 billion ($46 million) across six successful commercial paper series. Of that amount, N32.53 billion ($21.5 million) has already been fully repaid, while the outstanding balance remains within its scheduled repayment period and is not yet due.
The company says it has maintained a consistent record of meeting its obligations on time and remains focused on sustaining investor confidence.
At its core, Payaza is building a payments ecosystem designed to make it easier for businesses to receive money without friction. Its platform supports a wide range of payment options, including cards, USSD, QR codes, virtual accounts and mobile wallets, allowing both online and brick and mortar merchants to serve customers through multiple channels.
Beyond Nigeria, the fintech has steadily expanded its reach. Payaza is a certified partner of Mastercard and Visa and now operates in more than 19 countries across Africa, Asia, the Middle East and North America. In each jurisdiction, it has secured the relevant licences and regulatory approvals, reinforcing its push to align with global compliance standards.
Credit rating agencies have taken note of that growth trajectory. GCR assigns the company an A3 rating, while DataPro recently upgraded Payaza to A1 from BBB+, reflecting stronger fundamentals and improved credit quality.
With the new N50 billion ($33 million) issuance now underway, Payaza is once again tapping the capital market to fund the next phase of its expansion in Africa’s fast evolving payments landscape.
