The Digest:
Fintech leader Paystack has acquired Ladder Microfinance Bank, marking its strategic entry into Nigeria’s licensed banking sector and launching Paystack Microfinance Bank
Key Points:
- Paystack has acquired Ladder Microfinance Bank to launch its own banking entity.
- The new Paystack Microfinance Bank will operate independently with its own licence.
- The fintech aims to offer a complete “financial operating system” beyond payments.
- Paystack currently processes trillions of naira monthly for 300,000+ businesses.
- The bank will start with a small user group before expanding access.
- This follows Paystack’s recent reduction of operations outside Africa.
- The move aligns with its decade-long mission to simplify African business finance.
Source: Niarametrics, The Cable
