Leading a fast-growing fintech company across Africa requires more than vision; it demands making some of the hardest decisions in business, particularly when it comes to people. “We’ve had over a thousand employees pass through Paga, and yes, there have been times we had to let people go,” Tayo Oviosu, founder and CEO, explains. “It’s never easy, but for the health of the company and the team, these decisions are critical.”
For Tayo, hiring isn’t just about filling a role; it’s about finding the right fit for the company. “Someone may not be perfect for one position, but they could thrive in another. That’s why we encourage people to move across teams if they’re capable. One of my favorite examples is Dupe, who started as my assistant and now runs our remittance business. She negotiates with partners like a pro, drives operations, and has become an essential leader at Paga.”
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Yet, the early months often reveal whether a new hire is right for the company. “Within three months, you usually know if it’s going to work. If it isn’t, making the decision to let someone go is tough, especially considering the economic realities in Nigeria and other markets like Ethiopia. But underperforming employees affect the entire team and the product. Clear processes and honest feedback are essential.”
Tayo’s approach is informed by personal experience. “I’ve been fired before,” he admits. “My first job out of college at a small startup in Los Angeles didn’t work out. I had studied semiconductor chip design at the University of Southern California, and despite my best efforts, I wasn’t the right fit for that role. I was devastated, crying in front of my CEO. But that experience taught me resilience. It pushed me to find roles that matched my strengths and eventually led me to start Paga.”
Business decisions, he adds, can be equally challenging. “One very public mistake we made was relaunching a single-purpose app for payments and transfers. We believed that’s what users wanted, but after listening to hundreds of customers and team members, we realized we were wrong. We pulled the app down and rebuilt it to meet the market’s needs. That humility and willingness to adapt are essential for any founder.”
Expansion decisions carry enormous weight as well. “In 2018, we knew Paga had to grow beyond Nigeria to achieve our vision of giving billions access to financial services. We explored markets in Africa, India, the Philippines, Indonesia, and Mexico, ultimately choosing Mexico. Then the pandemic hit, and we had to make the painful decision to pause. Months of planning, investment, and even relocating team members had to be reassessed. It was heartbreaking, but it was the right decision for the company and our people.”
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For Tayo, leadership is a delicate balance between empathy and decisiveness. “Every tough call, whether letting someone go, pivoting a product, or withdrawing from a market, is an opportunity to strengthen the company. Having experienced both sides of these decisions, I approach them with understanding, clarity, and a focus on long-term growth.”
Under Tayo’s leadership, Paga has become more than a fintech company; it is a transformative force in Africa’s financial ecosystem, connecting millions to opportunity and reshaping how the continent accesses money. His story is a testament to the resilience, vision, and courage it takes to build a world-class business in Africa.
