KEY POINTS
- Payaza N50 billion commercial paper offer opened February 23.
- Company has raised over N70 billion across six prior series.
- DataPro upgraded Payaza’s rating to A1 from BBB+.
Payaza Africa Limited has returned to the debt market with plans to raise about N50 billion ($33 million) through Series 1 and Series 2 Commercial Papers under its existing N150 billion programme.
The offer opened on February 23 and will close on February 26. Proceeds from the Payaza N50 billion commercial paper issuance will support working capital as the fintech scales operations across multiple markets.
The latest offer marks the company’s seventh and eighth series since inception. Payaza has raised more than N70 billion ($46 million) across six previous issuances, of which N32.53 billion ($21.5 million) has been fully repaid. The remaining balance is within its scheduled tenor and not yet due, according to the company.
Payaza N50 Billion Commercial Paper Plan
Payaza says it has maintained timely repayments on matured obligations and aims to sustain investor confidence through disciplined capital management.
The commercial paper is being issued under a broader N150 billion ($99 million) programme designed to provide flexible short-term funding for operational growth.
At its core, Payaza operates a payments platform that enables businesses to accept funds through cards, USSD, QR codes, virtual accounts and mobile wallets. The system serves both online and physical merchants, offering multi-channel payment options in a single ecosystem.
Expansion and Credit Ratings
Beyond Nigeria, the fintech has expanded into more than 19 countries across Africa, Asia, the Middle East and North America. It is a certified partner of Mastercard and Visa and says it has secured relevant regulatory approvals in each jurisdiction of operation.
GCR gives Payaza an A3 rating, while DataPro raises the company’s rating from BBB+ to A1, saying that its credit quality has improved and its fundamentals are stronger.
According to Billionaires Africa, the Payaza N50 billion commercial paper issuance gives the company a better chance to expand its presence in Africa’s payments sector, where demand for digital transaction infrastructure is still growing.
