An African financial services provider, Payaza, has announced that it has obtained approval for a N50bn Commercial Paper issuance from FMDQ Exchange.

According to a statement on Thursday, the company said the move underscores the firm’s determination to become Africa’s premier payment gateway, offering secure and innovative financial solutions tailored to the continent’s needs.

“The N50bn programme is set to enhance Payaza’s liquidity, enabling the company to scale its operations, diversify its product portfolio, and cement its market leadership across Africa,” the statement said.

It noted that this milestone marks a major leap in the company’s journey toward advancing financial inclusion and bridging service gaps in underserved markets.

The Chief Executive Officer of Payaza, Seyi Ebenezer, said, “This approval reflects the confidence placed in our vision by key financial stakeholders.

“It represents a pivotal step in delivering innovative, accessible, and scalable financial solutions across Africa. With this opportunity, we can expand our services, drive strategic investments, and empower individuals and businesses to thrive in a dynamic economy.”

Also, Payaza-s Chief Technology Officer, Philips Akinyele, said, “This milestone goes beyond financial gains. It reinforces our commitment to building innovative solutions that drive growth and inclusion across Africa.

“The funding will help deepen our offerings and create opportunities that transform lives.”

Meanwhile, it mentioned that the firm’s expansion strategy strengthens stakeholder confidence, solidifying its efforts in creating sustainable fintech solutions across Africa.

“With the N50bn Commercial Paper approval, Payaza remains steadfast in its mission to deliver scalable solutions that empower individuals and businesses, driving inclusive economic growth across Africa,” the statement noted.