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  • Paga Sponsors MoC’s Live Coverage of the Tokyo Olympic Games!

    With only 3 days before the commencement of the Tokyo 2020 Olympics, Nigeria’s foremost sports management and media firm — Making of Champions Limited (MoC) — has announced leading payments & mobile money company Paga, as the official sponsor of MoC’s live coverage of the Tokyo Olympic Games scheduled to hold from 23rd July — 8th August 2021 at Tokyo, Japan.

    MoC has built a reputation in Africa and across the globe, providing world-class media coverage at over 10 major competitions since 2014, including Rio Olympics, 3 World Championships (Beijing 2015, London 2017, Doha 2019), 3 African Championships (Marrakech 2014, Durban 2016, Asaba 2018), 2 World Relays (Bahamas 2014 & 2015), 2 African Games (Brazzaville 2015, Rabat 2019) & 1 World Junior Championships (Bydgoszcz 2016).

    follow moc's coverage of the tokyo 2020 olympic games

    Today, MoC is a leading source of live Team Nigeria coverage and will capture every moment of Team Nigeria’s performances at the Tokyo Olympics Games courtesy of Paga, across all the sports that the nation will be competing in — Athletics, Badminton, Basketball, Canoe sprint, Gymnastic, Rowing, Taekwondo, Table Tennis and Wrestling.

    This new partnership comes in the wake of a successful Paga/MoC Relay competition hosted in Lagos, where both establishments partnered to enable Relay & Individual Athletes from across Nigeria and Africa to qualify for the Olympics. Nigeria’s mixed 4x400m broke the African Record (AR) and National Record (NR), qualifying with a time of 3:14.09s.

    Speaking on the partnership, MoC Founder & CEO Bambo Akani said: “We are elated to welcome Paga as sponsors of our live coverage of the Tokyo Olympics Games. Paga has again reinforced its commitment to making life possible for everyone by ensuring millions of Nigerians home and abroad are afforded the opportunity of following Team Nigeria’s performance at the Olympics Games via our website & social media channels”.

    Also commenting on the partnership, Paga’s Founder & CEO, Tayo Oviosu said, “At Paga, we recognize and celebrate excellence, and the Olympics is a culmination of sporting excellence. This continued partnership with MoC is a valuable reminder of how we “make life possible”, by making it easier for people to enjoy such a monumental event. We at Paga are fully committed in whichever way possible to move the sporting industry forward and are rooting for the athletes. May they come back home with medals!”

    MoC & Paga will also organize exciting campaigns for viewers across our digital channels such as the #PagaChamps, which will encourage users to showcase their exceptional abilities across any sport or other endeavour during our coverage.

    #PagaChamps Promo Campaign: Win N500,000

    PagaChamps Olympics Promo Banner

    Click the button below to open up Instagram on your phone and access the AR filter.

  • Paga Named to the CB Insights’ Fintech 250 List for the Third Time!

    New York, October 5, 2022CB Insights has named Paga, Nigeria’s leading payments and financial services company, in its fifth-annual Fintech 250 ranking, showcasing the 250 most promising private fintech companies of 2022.

    “This year’s Fintech 250 winners are shaping the future of financial services, from payments and banking to investing and insurance,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Representing more than 30 countries, these companies are creating safer and more efficient payment methods and transforming how traditional banking, insurance, and investing products are delivered. Together, they not only make financial services more convenient for users but also make them available to more people, especially traditionally underserved populations around the globe.”

    Paga’s founder and CEO, Tayo Oviosu, said, “We’re thrilled about this recognition from CB Insights! It is an encouraging achievement, and we don’t take it lightly. At Paga, we are building an ecosystem that enables the African consumer to send, pay, and bank digitally. It has taken a lot of hard work and commitment over the years. We are grateful for our customers who continue to trust us to provide quality products and services. I am incredibly proud of and thankful for the Paga team; this sort of recognition would not be possible without a dedicated team steering the ship. There’s still work to do to simplify payments and financial services for businesses and individuals, and we look forward to many more milestones on that journey”.

    Utilizing the CB Insights platform, the research team selected these 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 2,000 Analyst Briefings submitted by applicants.

    Paga has built a robust payments infrastructure with significant impact in Nigeria – its first and largest market. Paga is on track to have 40-50 million Nigerian adult users in the next five years by providing access to financial services via a hybrid approach, which combines its online and offline channels. Its offline channel is over 140,000 agent points where anybody can get financial services rendered to them, and a number of Paga’s over 20 million users use that channel. Its online channels are digital platforms for consumers (the Paga app and *242# on any mobile phone) and merchants (Doroki). 

    Quick facts on the 2022 Fintech 250: 

    • Equity funding and deals: The Fintech 250 cohort has raised over $115B in equity funding across over 1,100 deals since the start of 2017 (as of 9/20/2022). In 2021 alone, winners raised over $51B across 337 equity deals.
    • Unicorns: There are 159 companies with $1B+ valuations on the list.
    • Global Reach: Globalization is a key theme for this year’s Fintech 250. The winners represent 33 different countries across the globe – 7 more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest we’ve seen in the Fintech 250 since 2017. The UK came in second with 31 winners (12%), followed by India with 14 (6%), Brazil with 9 (4%), and Germany with 7 (3%).

    A big thank you to the CB Insights team. We’re proud to be on this list again!

    See the full listhere.

  • Being Broke is Expensive: Why it costs so much to be broke in Nigeria.

    Being broke remains a never-ending cycle for an average Nigerian. In trying to escape “sapa” it is becoming clearer that broke has become more and more expensive.

    How can you maintain a comfortable lifestyle if the bills never end and you keep saving to spend? In this article, we’ll take a look at how being broke impacts your life financially and discuss some solutions for the problem.

    In order to understand how expensive being broke is in Nigeria, let’s first define what “being broke” looks like: Being broke  is having limited access to basic goods or services such as food, shelter and education; therefore being unable to meet one’s basic needs without assistance from others

    As a lower/ middle in Nigeria, it’s easy to testify that most of your hard-earned money received at the end of the month is sucked away by responsibilities in a matter of seconds and you find living in survival mode so most of us  are waiting on the next paycheck. One of the major reasons for the inflation rate in Nigeria soared to 18.5% in June as a result the middle-class income earners kept shrinking.

    We will look at some the essentials money is spent on

    According to the World Bank, the average Nigerian spends around 18% of their income on items that are not immediately connected to fundamental requirements such as food and housing. This includes transportation and entertainment, which account for 15% of a person’s entire expenses. This may be a serious issue for low-income households, which frequently struggle to make ends meet on their salaries alone.

    Several factors contribute to the high cost of being broke in Nigeria, and they include:

    • The high cost of living: The first factor is the cost of living, which includes the cost of food and water, energy bills, and rent or mortgage payments. With the annual inflation rate in Nigeria at 18.6% in June of 2022, inflationary pressures on goods and services pricing has made being broke so much more expensive, as not having enough money to buy quality goods and services becomes a cost one pays for later on.
    • Poor financial management skills: A major factor contributing to the high cost of being broke in Nigeria is the lack of financial literacy. Since most people don’t know how to manage their money, they often spend more than they earn, which means they have less money than they need.
    • You become susceptible to bad loans: Being broke means you never have enough to take care of bills, hence you always look outwards for extra cash, in today’s climate where there are several loan platforms (with high interest rates) at the click of a button, without proper research, a broke person could easily fall victim to one of these bad actors and get caught in a web of never ending debt payments, continually paying for being broke.

    We know how hard you work to make your money, hence we are that financial partner that helps make life possible for you, not harder. Paga has developed several programs and reward systems to give you more value for your money.

    For starters, we know the average Nigerian spends a staggering 67% of their income on bills and utilities, hence it only makes sense we help our customers spend less on bills. Make paying bills fun again. Here are 2 ways in which Paga helps you spend less each month.

    2% Cashback

    If you are reading this article, you are probably doing so from an internet enabled device, according to the NCC, Nigerians spent N1.25tn on airtime and data in the first 6 months of 2022. Did you know Paga offers 2% cashback on all airtime and data purchases, Yes! With Paga you ALWAYS get a rebate when purchasing airtime/data bills. To put this in perspective, if every Nigerian bought their data/airtime through paga, they would have cumulatively saved N24.6 Billion naira. The next time you want to buy your monthly data or send airtime for your loved one, do it on Paga and save yourself some money.

    Monthly Payment Rush Plus

    Every month Paga rewards their customers for paying their bills in the Monthly Payment Rush Plus. You stand a chance to win N10,000 every month for simply doing these things;

    1. Pay a bill. E.g Pay TV subscription, Nepa bill, waste bill, etc.
    2. Buy data.
    3. Buy airtime.
    4. Send money twice.

    Every Paga customer who does the above automatically stands a chance to be one of the the next winners if you take action now.

    Conclusion

    This article has outlined some of the reasons why being broke in Nigeria is expensive. If you are looking for ways to improve your financial situation and increase your savings, Paga is a great option for you. It’s easy to use and will help you save more money each month than ever before! With Paga, Sapa no fit catch you!

  • Five Strategies To Enhance Your Career

    What are the five things I can do to enhance my career?

    Whether you want to be an airline pilot or a real estate agent, or maybe you’re washing dishes whilst having aspirations to become a top chef – if you want to achieve your ambitions, and make your parents proud, you cannot leave it to chance. You have to plan – even if informally and only to yourself. How are you going to get there? How will you arrive at your chosen destination?


    Here are five motivating thoughts to get you on your way…

    1. The first thing to realise is – you need a strategy! Simply accepting this fact and thinking about what that strategy should be – is the first stage to success. Sure, some people just fall into jobs and it takes off from there, some people get positive breaks they didn’t expect and weren’t really looking for – but for most of us – we have to plan how to get to where we want to go. You can’t get on a train from Lagos for Ibadan and expect to end up at Abuja.

    Merely thinking how to make the journey, strategically and logically, is a first step many do not even get past.

    1. Your strategy should consider what qualifications you need to appeal to your potential recruiters. What (if any) professional benchmarks must you reach? Do you need to broaden your relevant experience? Are there people you need to mix with and make acquaintances of – and learn from? How do you present yourself to them and what do you offer that makes getting to know you, and helping you, worthwhile?

    Considering such questions is how you strategize. The actions you take to answer them, are the tactics you employ.

    1. Having worked on your credentials you need to consider how to network, how to learn the vocabulary of your chosen specialisation and how to promote yourself without seeming to be trying. The first thing to understand is that delivering results gets you noticed and helps you progress onwards and upwards. This ability to deliver is crucial. If you don’t, or can’t deliver, the person setting you a task either has to do the job themselves, or allocate the task elsewhere – which isn’t a good use of their time or resources. Hard work and application to help you deliver – is noticed and gives you an authority among your peers.
    1. Know your shortcomings in the role. Maybe you don’t have the necessary small talk, don’t have attention to detail, have punctuality issues, or have a quick temper with colleagues who make errors. All these can work against you and need to be ironed out. Finding some coaching to make you an all-rounder will help you handle challenging situations. If you can help turn your challenges into positives and solutions – you can drive others to be positive – which starts to make you invaluable.
    1. Finally – but not exclusively – there is always room for improvement. Work to gain respect. Be decent and helpful. Share considered yet forthright thoughts with colleagues to help them. Aim to be the person that you would want available to ask for advice, and know it would be helpful and given in confidence. If you are managing to achieve these objectives your career has a great chance of fulfilling your dreams.
  • Different Ways Covid-19 changed our Saving & Spending Habits.

    The Pandemic That Caught The World Napping

    With different global events and phenomena, come different structures and modes of adjustments, depending (of course) on the generation or demographic affected by these events. The First and Second World Wars greatly affected travel and commerce in Europe and America, the Great Depression of the 1930s shook up the economy of the United States, and the terrorist attacks on the World Trade Center on September 11, 2001 changed the global approach to security checks at international airports.

    The outbreak of the COVID-19 pandemic in early 2020 changed the world in more ways than one. Beyond the multiple deaths, alienation of people from their families, and heavy restrictions on travel, the domino effect of the pandemic changed the entire look of the global economy, altered work structures, and reshaped several industries. Many companies had to downsize as they could no longer cater to the welfare and remuneration of employees, while others had to adjust to remote work. With the massive layoffs, many people found themselves dependent on government welfare, leading to a change in spending patterns. There were those, too, who had to pick up new skills so they could fit into “the new normal”.

    How COVID-19 Has Changed How People Spend

    The world is slowly opening up again, and with the availability of vaccines, travel has become a lot easier, but certain things may have been altered forever. Employment as we know it has changed, as remote work is now more commonplace than ever before. The shift in spending and consumption patterns is also something that is highly unlikely to swing back to the state of affairs pre-pandemic. Here are a few ways in which one virus altered the course of existence:

    1. The COVID-19 pandemic created a tale of two economies: those who were able to save, and those who struggled to make ends meet. Many people ended up in debt, some of whom are still struggling to bounce back.
    1. Due to the economic hardships occasioned by the lockdown, more people have become more frugal and conscious of financial management.
    1. The pandemic has changed purchasing behaviour across multiple demographics, with many cutting spending on movies, clothes and entertainment, but increasing spending on health care and groceries.
    1. People have been made to take a harder look at their spending habits, scrutinise their expenses, and pay more attention to budgeting.
    1. As a result of layoffs and salary cuts, some people saw their standard of living drop significantly, and things have not been the same ever since.

    How You Can Adjust To The New Order Of Things

    One necessary human trait to have is the ability to adapt. The world may have adjusted its approach to spending, but it’s up to you to stay ahead of the financial curve, make the necessary adjustments, and live your best life to the extent that you can. Here are some ways to slowly get your financial groove back:

    1. Reassess your long-term financial goals.
    1. Realign your budget to the new normal.
    1. Build an emergency fund for future “rainy days.”
    1. Be more deliberate in paying off your debts, or at least reducing them to a bare minimum.
    1. Automate your savings and recurrent payments.

    Here’s How Paga Caters To New Spending And Saving Patterns

    As Nigeria’s leading payment solutions provider, Paga is easy to use, it is secure, and transactions are conducted speedily. Here are the ways through which Paga ensures that people adjust seamlessly to life post-pandemic:

    1. Multiple Options: Paga allows users to pay utility bills, purchase prepaid airtime, pay for subscription services as well as internet bundles, and make payments to retailers. You can sort out your cable TV, internet subscription and electricity bills with Paga’s smooth bill payment service. The platform currently caters to payments for DStv, GOtv, Smile, and Spectranet.
    1. Recurring Payments: A recurring payment is designed to take away the burden of initiating a regular payment while ensuring you do not miss the payment. It is simple to set up. To do this: 
    •  Log into your Paga account
    • Select “recurring payments” from the list of services
    •  Create a new recurring payment
    • Select the service you want to create a recurring payment for
    • Fill out the details of the recipient/beneficiary
    • Set up the schedule and fill all required fields
    • Review the details and confirm the transaction.

    With Paga, users can pay utility bills, purchase prepaid airtime, pay for subscription services as well as internet bundles, and make payments to retailers. The platform also enables its users to receive money from outside the country via its e-wallet system.

    Paga offers a range of services such as: free money transfers, deposit to bank accounts, buying/sending of airtime, bill payments, remittances, bulk disbursements & collections that are accessible via its online channels and on any basic mobile phone via dialing *242#.

    Opening a Paga account is pretty easy. To get started, click here to download the Paga app on your device, then click on ‘Sign Up’, and follow the instructions from there. 

  • Common Money Mistakes You Should Avoid

    The Idea Of Evaluating Financial Decisions

    We are almost at the halfway line of 2022, but there’s really no wrong time to take stock of the financial decisions that you’ve made in the course of the year. It’s perfectly fine to know where you stand financially as you approach the midway point, and in doing that, you may find yourself thinking about the purchases you made, how much you were able to save, investments taken up (if any), and expenses unaccounted for. Whether it’s an expensive item that you ended up not needing at all, or seeing your Crypto investment go up in flames, it’s okay to view things from the standpoint of evaluation.

    Common Mistakes To Avoid

    The truth, however, is that no matter how much stock-taking you do, you will keep making certain wrong decisions if you don’t know that these moves are wrong in the first place. Unless you learn how not to put your funds in the wrong ventures, you will keep losing money, getting overwhelmed by seeing your finances on freefall, and suffering from a lack of good money advice. Here are a few financial mistakes commonly made by people who frequently interact with money, and how you can avoid these mistakes:

    1. Not Having Any Money Goals: The secret to having wealth is simple. Just as with other areas of life, setting money goals is also crucial. Building wealth and financial security don’t happen magically- it takes time and conscious effort. Setting up financial goals help you stay focused on a target. You need a realistic look into all that you choose to do with your money. If you need to save to buy a house, a car, travel, etc, you will need to set money goals.
    1. Not Having A Budget: Spending without a budget is misappropriation. Have a budget & stay on it. This is the epitome of discipline. Cultivating financial discipline is extremely important. A budget creates boundaries, in the manner that you set boundaries with your friends and family. Without a budget, you are on your way to becoming a chronic debtor, and people will be less inclined to have financial dealings with you.
    1. Impulse Buying: Don’t buy things without properly planning for them. Also, you have no business going to get an item off the shelf simply because it’s the “coolest thing to own at the moment.” Causing your funds to deplete just to get something that will depreciate in value after one year is an unwise way to live, especially if it’s not an important need at the time.
    1. Spending Money Before It Actually Gets To You: Until money enters your account, don’t go & pick something with the hope that you will pay when you get the money. That habit will lead you into the red. How about if that money does not come at the end of the day? If you adopt this lifestyle, you will find yourself in penury before long.
    1. Not Having Any Emergency Funds: Unforeseen circumstances like a job loss, car repair bill, illness, etc should be planned for. An emergency fund can protect you from crippling debts. Include your emergency fund in your budget until it’s fully funded. Many financial experts suggest saving at least six months’ worth of your salary.
    1. Not keeping a record of your money: Keeping record of your money gives details and helps raise your awareness of your spending habits. It shows you what you’re doing with your money. As you spend, keep a record of your money. What items are you buying and how much are you saving? You may think you’re spending less but when you check, you might realize that you’re spending more than you should.

    How Paga Helps You To Keep Track Of Your Spending

    It is also important that you keep track of your spending, and this is one of the services provided by Paga. One way the platform does this is by allowing you to set up recurring payments. This means that you can set up your account in a manner that it will be debited a specific amount at a specified time of the month for a particular service. A recurring payment is designed to take away the burden of initiating a regular payment while ensuring you do not miss the payment. It is simple to set up. To do this:

    –          Log into your Paga account

    –          Select “recurring payments” from the list of services

    –          Create a new recurring payment

    –          Select the service you want to create a recurring payment for

    –          Fill out the details of the recipient/beneficiary

    –          Set up the schedule and fill all required fields

    –          Review the details and confirm the transaction.

    Opening a Paga account is pretty easy.

    To get started, click here to download the Paga app on your device, then click on ‘Sign Up’, and follow the instructions from there.

  • Best Ways To Save Money On Your Gas & Electricity Bills

    Global Prices Are Rapidly Rising

    Some of the world’s biggest economies are currently experiencing an inflation of sorts. In the United Kingdom, the prices of food and fuel are surging, and inflation rate has risen to 9.1%, the highest that the country has experienced in 40 years. In the United States, inflation recently hit 8.6% – the last time this happened there was December 1981 – and the price of gas has continued to rise at an alarming rate, with the average cost of a gallon now over $5.

    There are several reasons for the current situation. The patterns of supply and consumption were significantly altered by the COVID-19 pandemic, causing many businesses to effect upward reviews of the prices of products and services. The Russia-Ukraine war has also adversely affected the supply of gas and petroleum products on a global scale. The point is, pockets all round the world are hurting, and it could get worse before it gets better.

    The Nigerian Situation

    In Nigeria, the prices of commodities seem to go up by the minute. A loaf of bread that currently costs N500 could go for N700 next week. Inflation currently sits at 17%, service providers regularly have to review their prices due to increasing cost of production, and everyone is feeling the brunt.

    Electricity tariffs have been on an upward surge for a while: consumers who bought power at N50.72/kWh in January 2022 were to pay N54.22/kWh from February. The cost of purchasing a 12.5kg cylinder of household cooking gas in Nigeria has increased from N7,000 in September 2021 to N9,400, as at May 31, 2022. Abuja and parts of Lagos are witnessing the gradual return of long fuel queues, and for consumers of these products, there’s a lot of uncertainty as to how much more of their spending power will be eroded in the coming months.

    How You Can Save Money

    There is no way to know when things will get better, so the best thing to do for now is to adapt. It’s important to be deliberate about power consumption and use of gas. Here are a few ways to cut down on costs:

    1. Turn off and unplug what you aren’t using: By leaving things around your house plugged in and turned on when you aren’t using them, you’re driving up your electric bill unnecessarily. You can start by turning off lights when you aren’t in the room or when it’s light enough outside to rely solely on natural light.
    1. Buy energy-efficient gadgets: If you have the means, ensure that the models for your gadgets are the energy-efficient ones. For instance, non-energy-efficient bulbs are cheaper to purchase, but they become more expensive in the long run to use. This is because they consume far more power than energy-saving bulbs. Also, the ceiling fan is one of the home’s highest passive power consumers, and you might not know it, but your fan practically runs all day and night, which significantly impacts your power bills.
    1. Insist on prepaid meter: To regulate electricity consumption, it’s a lot better for you to have prepaid meters for your homes or business offices. This is because unlike estimated billing, you can keep track of what you spend on electricity monthly. This helps you to plan your budget properly. With prepaid meters, you only pay for what you use. Your prepaid meter stops reading the moment there is no power supply, and it starts reading the moment power is restored.
    1. Smart regulation: Install smart switches or sensors that can automatically turn lights on or off when in use and not in use.

    How Paga Can Help You Save Costs

    As Nigeria’s leading payment solutions provider, Paga is easy to use, it is secure, and transactions are conducted speedily. Here are the ways through which Paga ensures that you can regulate your expenses and save costs on electricity.

    1. Multiple Options: Paga allows you to pay utility bills, purchase prepaid airtime, pay for subscription services as well as internet bundles, and make payments to retailers. You can sort out your cable TV, internet subscription and electricity bills with Paga’s smooth bill payment service. The platform currently caters to payments for DStv, GOtv, Smile, and Spectranet.

    1. Recurring Payments: A recurring payment is designed to take away the burden of initiating a regular payment while ensuring you do not miss the payment. It is simple to set up. To do this: 
    •  Log into your Paga account
    • Select “recurring payments” from the list of services
    •  Create a new recurring payment
    • Select the service you want to create a recurring payment for
    • Fill out the details of the recipient/beneficiary
    • Set up the schedule and fill all required fields
    • Review the details and confirm the transaction.

    Opening a Paga account is pretty easy. To get started, click here to download the Paga app on your device, then click on ‘Sign Up’, and follow the instructions from there. 

  • BEST FINANCIAL TIPS FOR GEN Z

    The Peculiarity of The Gen Z Demographic

    With the arrival of each new generation, the financial situation changes on a global scale. Career choices differ across multiple age demographics, currencies around the world feel the effects of inflation, and what worked in the 1970s would be regarded as obsolete in the current decade. The change extends to spending patterns, investment models and approach to money, too.

    Suffice it to say that the most intriguing age demographic in the world right now is the one known as Generation Z, generally comprising those born between 1997 and 2012. Wide-eyed, bold and largely carefree, this peculiar generation makes up a larger percentage of today’s social media users, and they have a way of influencing social media trends. They are young, they are restless, they don’t conform to the rules set by older generations, and their attitude to the corporate world is significantly different too. In Nigeria, for context, they make up a huge part of the active population that is eligible to vote.

    However, because they are young – the oldest set of people in Gen Z are 25 years old – and haven’t been in the workforce long enough, many of them do not have access to as much wealth as they would have liked. Sure enough, there are some of them making millions, but many of them are not satisfied with their current financial state. Worse still, in a country like Nigeria where inflation is on the rise, it is easy to get frustrated with how quickly money loses its purchasing power around here.

    Financial Tips for Gen Z

    A lot of people in Gen Z are slowly transitioning from school into the working class. Some are even working already while still in school, and it’s easy to get overwhelmed by the volatile nature of the economy. Here are a few tips that are sure to help Gen Z stay afloat and get their money up:

    1.  Have A Comprehensive Financial Plan: Don’t wait until you are well into your career to seek financial advice for your financial future. If you have a steady job, now is the time to seek input on how to maximize your savings. Learn about budgeting, and arrange your spending list by other of priority. You have no business getting a new phone when there’s still tuition to pay, or online courses to register for.

    2.  Let Your Money Grow Slowly: Take advantage of compound interest. Compound interest is interest you earn on interest. Let me explain – when you invest, you earn interest on that investment. Say you put N10,000 into an investment account that pays 10% interest per annum, you will earn N1,000 at the end of the year. By the start of the second year, your investing amount is now N11,000 and another 10% interest per annum will yield N1,100. Just like that, your money begins to grow.

    3.   Invest, But Spread Your Tentacles: One way of getting your money up is by placing some of your income into investments like stocks or mutual funds. However, you don’t want to tie your entire financial future to a single investment. When it comes to investing, it’s a lot better to adopt an investment strategy that tries to spread your investments across different assets and asset classes. You can also diversify across currencies by investing in dollar-denominated assets to protect against currency devaluation.

    4.   Be Careful About The Financial Advice You Take: Making rash decisions with money is almost never a good idea. If you get your financial advice from TikTok or any other social media platform, make sure you back it up with research or the opinion of someone you trust before you act on it. Be prudent with your financial decisions and only invest when you have the basics in place.

    5.   Always Have Emergency Funds In Place: You need a savings cushion to be able to cater to eventualities, without having to take out of your long-term investments. A good rule of thumb is to have six months’ worth of your monthly tucked neatly in a savings account. You never know what could happen to you or the ones you care about: you could lose your job, your apartment could get flooded, or your favourite uncle could require a surgery that costs millions.

    How Paga Helps You Check Your Spending

    One way that Paga has helped to provide financial guidance for its customers is via the creation of the wealth.ng marketplace. Wealth.ng is an investment marketplace that makes it easy for you to invest money in treasury bills, stocks, mutual funds, and real estate. With Wealth.ng, you can grow wealth by investing in any of the treasury bills, stocks and other securities listed on the platform. You can monitor your investments in real time and see how much interest accrues to you when your investment matures. Wealth.ng holds your hand through the investment process and guides your hand each step of the way. You have total control over your investments, and you can make changes to your personal profile settings at any time.

    It is also important that you keep track of your spending, and this is one of the services provided by Paga. One way the platform does this is by allowing you to set up recurring payments. This means that you can set up your account in a manner that it will be debited a specific amount at a specified time of the month for a particular service. A recurring payment is designed to take away the burden of initiating a regular payment while ensuring you do not miss the payment. It is simple to set up. To do this:

    –          Log into your Paga account

    –          Select “recurring payments” from the list of services

    –          Create a new recurring payment

    –          Select the service you want to create a recurring payment for

    –          Fill out the details of the recipient/beneficiary

    –          Set up the schedule and fill all required fields

    –          Review the details and confirm the transaction.

    Opening a Paga account is pretty easy. To get started, click here to download the Paga app on your device, then click on ‘Sign Up’, and follow the instructions from there.

  • Paga Conversations – Gideon Abate

    Paga Conversations is back!

    Today’s conversation is with Gideon Abate, our Head of Product Innovation. Gideon can eat a BLT (bacon, lettuce, tomato) Sandwich every day for the rest of his life, and one of his favourite movie lines is from Gladiator. 

    Find out more about him below! 

    • What are three [3] words to describe Paga? 
      • Three words that I would use are Fun, Challenging, and Ambitious
    • What do you find the most challenging at Paga? 
      • I think one of the most challenging things about working at Paga is trying to solve problems for customers. In the Product team, we’re fortunate enough to create products that shape how people lead their lives. When we create things that don’t necessarily help them, or we don’t make it easy enough for them to understand, or when we create things that don’t solve a problem, it makes me want to do better the next time — this is what excites me and challenges me.  
    • What have you gained from working at Paga? 
      • Probably a lot more grey hairs. 😁
    • Do you have any favourite lines from a movie? 
      • I don’t remember many lines from movies, but I think this was one of the most memorable for its impact on the rest of the story: “My name is Maximus Decimus Meridius, commander of the Armies of the North, General of the Felix Legions, and loyal servant to the true emperor, Marcus Aurelius. Father to a murdered son. Husband to a murdered wife. And I will have my vengeance, in this life or the next.”Gladiator 
    • If given a chance, who would you like to be for a day? 
      • Marco Pierre White, during the days when he was working up to earning his first Michelin Star (he worked hard, partied hard, created amazing food, and broke all the rules as he did it). 
    Marco Pierre White (Google Images)
    • What would it be if you had to eat one meal every day for the rest of your life? 
      • This meal would need to work for breakfast, lunch, and dinner, so I think it would have to be a BLT Sandwich. 😋🥪

    Thanks, Gideon, for this fun conversation! It was lovely to get to know you better. 🙂

    Curious about what it’ll be like to work with Gideon or other folks like him? Get more details here and here!

  • Best Ways Your Side Hustle Can Accept Payment Without A Website.

    How Payment Has Changed Over Time

    Over the years, we have witnessed how payment methods have evolved from one form to another. These days, payments are made via smartphones, with particular emphasis on online payments.

    Technology allows for fast and easy data exchange between devices. Payment methods and their integration continue to be continually improving and evolving. As there are nearly more mobile phones than people on the planet, the growth of e-commerce has expanded massively.

    The Need To Have Easy Payment Models For Your Business

    The modern business ecosystem changes by the minute, and as a business owner, you must adapt to survive these changes. If your business is not leveraging the growing internet market, you will be left behind in no time. To survive in the highly competitive online market, you must provide a shopping experience that is convenient, fast and secure.

    Payments are what keep your business running. It is important to prioritise your payment experience and strive to make the process seamless for your customers. Otherwise, there’s a high chance they will take their business elsewhere, causing you to lose out on revenue. The more payment methods you offer, the better your chances of providing exactly the one your customers need.

    Ways To Accept Payments Without A Website

    When it comes to accepting payments for your business, it is usually helpful to have a website, for the purpose of ease and accessibility. However, websites are not the only way for entrepreneurs to receive payments. You don’t have to stop your business in its tracks simply because you have not set up a functional web page. Here are a few ways through which you can accept payment for your business without a website if you are an entrepreneur, or if you are running a side hustle to supplement your day job:

    1. Accept Payments via QR Codes

      QR code is a type of two-dimensional barcode. It is a contact-less online payment method. Nowadays we witness QR codes displayed everywhere. Payment acceptance via QR codes is gaining popularity, and this instant payment solution is here to stay.

      QR Codes are useful for street vendors because they can print QR Code Payment Links for all their products, customers scan the QR code and the merchant gets a direct confirmation when the customer has paid. A customer just has to scan the QR code with the mobile device and then the QR code redirects customers to the payment page where the online payment can be initiated.
    1. Payment Links

      Receiving online payments via payment links is one of the easiest, fastest and convenient options for both merchants and customers. These payment links can be shared via any social media messenger application, email, or SMS.

      This is how conducting transactions via payment links is done: the merchant generates the link of the said amount and shares it. Then the customer receives the link, presses the command functions, and initiates the payment. After online payment is successfully done, the merchant gets a notification.
    1. WhatsApp Payment

      WhatsApp is undoubtedly one of the most popular messaging applications. It is one of the customised ways to provide your customers with a personalised shopping experience. Starting from showcasing products to collecting online payments for the services and goods, the WhatsApp payment solution can be a one-stop-shop.

      Receiving payment online via WhatsApp messenger has its own advantages. In the era of social media marketing, the WhatsApp payment solution gives a unique and customised experience for online payment acceptance.

      WhatsApp Payment solution has multiple payment options. The customer just has to click on the link which redirects them to the payment page. On the payment page, the customer can select any payment method he/she is comfortable with and proceed.

    Advantages Of Alternative Online Payment Models

    –       Any business, regardless of its size, can accept online payments seamlessly with these methods. These solutions are quick to understand, and customers can get accustomed to them very easily.

    –       They provide a secure platform for online payment transactions. These payment solutions are backed with a secure payment gateway.

    –       Accepting online payments via payment link, QR codes and WhatsApp payment solution need minimum input from the customer.

    –       Accepting online payments not only increases brand and customer loyalty, but it also proves to be beneficial for businesses in the long run.

    How Paga Aids Businesses By Providing A Wide Range Of Payment Options

    As Nigeria’s leading payment solutions provider, Paga is easy to use, it is secure, and transactions are conducted speedily. Here are the ways through which Paga ensures that business owners can process transactions seamlessly.

    1. Multiple Options: Paga allows users to pay utility bills, purchase prepaid airtime, pay for subscription services as well as internet bundles, and make payments to retailers. You can sort out your cable TV, internet subscription and electricity bills with Paga’s smooth bill payment service. The platform currently caters to payments for DStv, GOtv, Smile, and Spectranet.
    1. Recurring Payments: A recurring payment is designed to take away the burden of initiating a regular payment while ensuring you do not miss the payment. It is simple to set up. To do this: 
    •  Log into your Paga account
    • Select “recurring payments” from the list of services
    •  Create a new recurring payment
    • Select the service you want to create a recurring payment for
    • Fill out the details of the recipient/beneficiary
    • Set up the schedule and fill all required fields
    • Review the details and confirm the transaction.
    1. Safety: Paga also acts as a mobile wallet where any user equipped with a mobile device can conduct financial transactions. It is easy to use, it is secure, and transactions are conducted speedily. Paga boasts of the safest e-wallet when it comes to e-payment solutions in Nigeria: the platform’s my242 feature keeps your money safe and is designed with state-of-the-art security features accessed through your Personal Identification Number (PIN). Your PIN helps provide protection against fraud and unauthorised access to your Paga account.

      Opening a Paga account is pretty easy. To get started, click here to download the Paga app on your device, then click on ‘Sign Up’, and follow the instructions from there. 
  • HOW YOU CAN ACHIEVE FINANCIAL FREEDOM IN 2022

    What Financial Freedom Actually Means

    Financial freedom means having enough money in the form of cash and investments to do whatever you want. To illustrate in simple terms, it means that you can quit your job to travel the world full-time, focus on your hobbies, or stay at home to watch Netflix.

    When can you be said to have attained financial freedom? That would be when you have enough disposable income and investments on hand to pursue the things you’re passionate about, regardless of how much they cost. By having financial freedom, you can make decisions that align with your values and life goals, instead of worrying about how you’ll make your next pay cheques. 

    There is no one amount of money that every person should reach for to achieve financial freedom. The amount will vary depending on the individual and their lifestyle goals. Simply put, for one person, financial freedom could mean having one billion naira in savings, and for another, 100 billion naira may not be enough.

    Unfortunately, too many people fall far short of financial freedom. Even without occasional financial emergencies, escalating debt due to overspending is a constant burden that keeps them from reaching their goals. When a major crisis—such as a hurricane, an earthquake, or a pandemic—completely disrupts all plans, additional holes in safety nets are revealed.

    Ways Of Achieving Financial Freedom

    There is no hard-and-fast rule to achieving financial freedom, but certain practices are guaranteed to set you on the right path, and make you stand out from the rest of the pack. It takes deliberate steps to move from one financial level to another. Here are some time-proven tips to follow if you want to dine at the table of the wealthy:

    1. Understand your current financial state: You can’t achieve financial freedom without knowing your starting point. Looking at how much debt you have, how much savings you don’t have, and how much money you need can be a depressing reality. But this is a valuable step in the right direction. Compile a list of all your debts, and in doing so don’t forget to include any money you may have borrowed from friends or family members over the years. Pay off your smallest debt first, then use the money you would have put toward that debt to start paying down the next one. Once you’ve gotten out of debt and developed a budget, you’ll have more money each month and more peace of mind.
    1. Consider money from an optimistic perspective: Money is a necessity like food or water. It helps you buy the things you need and live the life you want. To experience financial freedom, you’re going to need to look at money as a tool to help you achieve your dreams, fuel your energy, and live a stress-free life you can enjoy. This is because if you view money negatively, you’ll subconsciously sabotage your chances of making it and keeping it.
    1. Create a short-term savings plan: Achieving financial freedom will not happen overnight, and you need to have a backup plan for the expensive surprises life can throw at you. Once you’ve gotten out of debt, you will have more money to budget each month and to put into savings. Once you’ve created an emergency fund that can account for everything – from a sudden income loss to major medical issues – you can then make that extra income work for you by way of investment. Having this emergency fund is practical and it’s necessary for your mental well-being. When you know you have a financial cushion, you can take more risks.
    1. Negotiate prices of goods and services more often: A good number of consumers are usually hesitant to negotiate for goods and services, because they’re afraid that it makes them seem cheap. Conquer this fear and you could save thousands each year. Small businesses tend to be open to negotiation, so buying in bulk or positioning yourself as a regular customer can open the door to good discounts with certain businesses.
    1. Create additional sources of income: If you’re serious about financial freedom, you’ve got to sacrifice some hours of sleep, and put in the work. Your 9-to-5 job could make you comfortable but it will definitely not lead you to wealth, and in that case, you need to step it up and look for money outside your current job.
    1. Live below your means: Mastering a frugal lifestyle means developing a mindset focused on living a good life with less, and it’s easier than you think. In fact, before rising to affluence, many wealthy individuals developed the habit of living below their means.

    This isn’t a challenge to adopt a minimalist lifestyle. It simply means learning to distinguish between the things you need and the things you want—and then making small adjustments that drive big gains for your financial health.

    How Paga Assists You In Managing Your Finances

    In climbing up the financial ladder and working your way to financial freedom, it is important that you actively seek out investment opportunities and also manage your finances. Many people rack their brains trying to figure out how best to do this, but thanks to Paga, Nigeria’s leading payment solutions provider, this process has now been demystified. It’s as easy as pouring water into a cup.

    One way that Paga has helped to provide financial guidance for its customers is via the creation of the wealth.ng marketplace. Wealth.ng is an investment marketplace that makes it easy for you to invest money in treasury bills, stocks, mutual funds, and real estate. With Wealth.ng, you can grow wealth by investing in any of the treasury bills, stocks and other securities listed on the platform. You can monitor your investments in real time and see how much interest accrues to you when your investment matures. Wealth.ng holds your hand through the investment process and guides your hand each step of the way. You have total control over your investments, and you can make changes to your personal profile settings at any time.

    It is also important that you keep track of your spending, and this is one of the services provided by Paga. One way the platform does this is by allowing you to set up recurring payments. This means that you can set up your account in a manner that it will be debited a specific amount at a specified time of the month for a particular service. A recurring payment is designed to take away the burden of initiating a regular payment while ensuring you do not miss the payment. It is simple to set up. To do this:

    –          Log into your Paga account

    –          Select “recurring payments” from the list of services

    –          Create a new recurring payment

    –          Select the service you want to create a recurring payment for

    –          Fill out the details of the recipient/beneficiary

    –          Set up the schedule and fill all required fields

    –          Review the details and confirm the transaction.

    Opening a Paga account is pretty easy.

    To get started, click here to download the Paga app on your device, then click on ‘Sign Up’, and follow the instructions from there.