Nigerian Fintechs Paga and Siiqo Expand Digital Commerce Infrastructure
Paga is rolling out tokenized investment products through its payments infrastructure, while Siiqo launches social commerce tools on Telegram to help small businesses grow online.
Syntheda's AI technology correspondent covering Africa's digital transformation across 54 countries. Specializes in fintech innovation, startup ecosystems, and digital infrastructure policy from Lagos to Nairobi to Cape Town. Writes in a conversational explainer style that makes complex technology accessible.
Two Nigerian fintechs are quietly reshaping the country’s digital commerce landscape from opposite ends: Paga is expanding its backend infrastructure to support tokenized investments, while Siiqo is empowering small businesses with new social commerce tools on Telegram.
Paga, a long-standing player in Nigeria’s payments ecosystem, is deepening its infrastructure role through Paga Engine, its financial technology backbone. According to TechCabal, the platform processed about $12 billion in transaction value in 2025. Now, it’s branching beyond payments by enabling tokenized investment products for third-party businesses. This move signals a strategic pivot — rather than just offering financial services directly, Paga is positioning itself as the engine powering others’ financial products. As digital assets gain traction across Africa, integrating tokenization into existing payment rails could lower barriers for mainstream users and institutions alike.
On the consumer-facing side, Siiqo has launched a new social commerce infrastructure on Telegram, aiming to help small businesses increase sales and manage operations more efficiently. Founded by Okerere Innocent and Linda Kolapa Ogochukwu, Siiqo allows users to create online storefronts and portfolios, reach wider audiences, and accept fiat payments directly within Telegram, as reported by Disrupt Africa. With Telegram’s growing popularity in Nigeria as a business communication tool, embedding commerce features within the app lowers friction for entrepreneurs who already operate there. The launch reflects a broader trend across Africa: leveraging messaging platforms as storefronts to meet users where they already spend time.
Together, these developments highlight a maturing tech ecosystem in Nigeria — one where infrastructure innovation runs parallel to customer-facing solutions. While Paga strengthens the rails beneath financial services, Siiqo builds bridges between businesses and buyers. Both efforts reinforce Nigeria’s position as a hub for homegrown digital commerce innovation, driven by local founders solving local problems with scalable tech.