Nigerian mobile payment company, Paga, hires Ian Cleverly as its Group chief financial officer

by | Jan 10, 2020

Nigerian mobile payment company Paga has a new chief financial officer. The company announced that it has hired Ian Cleverly, who previously served the same role at Maistro Plc, a business-to-business marketplace for online procurement service, as its Group chief financial officer (CFO).


Paga is one of Nigeria’s leading payment platforms. The company recently reported to have processed over 35.5 million transactions worth 694 billion ($2.3 billion) for the first time in a year.

Founded in 2009 by Tayo Oviosu, the company has raised $35 million so far, including $10 million series B2 led by Global Innovation Fund announced in September 2018.

According to Oviosu, the capital was raised for international expansion into countries like Ethiopia, Mexico, and the Philippines. With the experience Cleverly brings to the table, it seems hiring a CFO has been part of Paga’s expansion plan of making 1 billion people to access and use money.

“I am delighted to have joined Paga at an exciting time as the company scales and gathers momentum for its next phase of international expansion. I look forward to playing a key role in its growth and value creation, and I believe my experience will be additive to the team as we implement and execute our growth strategy,” Cleverly said on his appointment.

Cleverly’s career spans 20 years with industry experience in senior financial and operational management roles in telecommunications, FMCG, and mobile payments across. Before Maistro Plc, he was Cable & Wireless Communications, Jamaica’s CFO and executive director; and Hutchison 3G Ireland’s CFO.

As CFO, Cleverly will be responsible for Paga’s Finance, Risk, Compliance, and Internal Audit functions across all countries including future markets.

Judging by Cleverly’s CV, this is a good move by the payment company. But will this spark a trend of local startups aiming for foreign executives in their bid to raise funds or scale globally? Only time will tell.

Tage Kene-Okafor
Tage Kene-Okafor

Endlessly amused by technology. @ulonnaya


On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

Notify of
Inline Feedbacks
View all comments

Recent News

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap