Connect with us

Brands/Products

Paxful Records 1.5 million Users in Nigeria as Volume Hits $1.5bn

Published

on

Paxful

By Modupe Gbadeyanka

The decision of the management of Paxful, a leading global peer-to-peer fintech, to explore the Nigerian market is already paying off.

This is because the P2P platform has recorded an impressive increase in the number of its Nigerian users to about 1.5 million, while the volume currently stands at $1.5 billion, making Nigeria the biggest market of the firm.

Globally, Paxful, which was established in 2015, has recorded transactions worth over $5 billion, while the number of users has reached over six million.

As of April 2021, the top 4 countries by volume on Paxful asides Nigeria are China, the US, India and Kenya.

“Our mission at Paxful is to give everyone equal access to finance no matter who they are or where they are so they can control their own money and build the future they want with financial freedom.

“The financial system is failing 99 per cent of the world’s population; it’s disconnected and out of date. This means there’s no way out of income inequality for a lot of people in the world.

“With cryptocurrencies, we see an alternative: a way to rest the financial system based on equality,” the CEO/co-founder of Paxful, Mr Ray Youssef, said.

Speaking further, Mr Youssef said, “We’re on track for an over 20 per cent increase in volume this year. We are seeing growth in all our markets and especially among groups or in countries where there’s a real need for cryptocurrencies: where the traditional financial system is failing people, whether that’s because of extreme volatility, strict capital controls or high transaction costs.

“People are looking for freedom from these constraints and find that in cryptocurrencies. So, there’s a real increase in people using cryptocurrencies for their original purpose – as currencies and not just as a speculative asset.”

Paxful is a P2P platform for trading digital currencies as the means of exchange and payments, transactions, and funds transfer.

With close to 400 different ways to buy and sell digital currencies from gift cards to online wallets bank transfers, Paxful connects users to almost any financial network in the world and it recently added ETH to the cryptocurrencies available.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Brands/Products

ALTON Supports NCC Call for Made-in-Nigeria Smartphones

Published

on

ALTON

By Adedapo Adesanya

The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has backed the call by the Nigerian Communications Commission (NCC) for local smartphone manufacturing to accelerate digital inclusion.

The ALTON Chairman, Mr Gbenga Adebayo, described the proposal as a practical measure capable of accelerating broadband adoption and expanding digital inclusion across the country.

He said Nigeria must deliberately transition from being predominantly a technology consumer to becoming an innovator, designer and manufacturer of digital technologies.

According to him, Nigeria’s large telecommunications market and youthful population provide the scale and human capital needed for world-class technology manufacturing.

The ALTON chairman said the country’s ambition should extend beyond assembling smartphones to developing complete technology capabilities across the value chain.

“Our ambition should extend beyond assembling devices. We must pursue genuine knowledge transfer, research and development, product engineering, software development, semiconductor capabilities and large-scale manufacturing,” he stressed.

He said the objective should be producing devices and digital technologies for Nigeria, Africa and the global market.

Mr Adebayo said the emergence of Artificial Intelligence had further strengthened Nigeria’s opportunity to become a competitive technology manufacturing hub.

He said Artificial Intelligence was transforming product design, manufacturing, quality assurance, supply chain management, customer experience and software innovation.

According to him, investing in AI-enabled manufacturing will improve productivity, create high-value jobs and strengthen Nigeria’s competitiveness across Africa.

NCC’s Board Chairman, Mr Idris Olorunnimben, at a Digital Africa Summit Roundtable in Shanghai, called for local smartphone production and innovative financing to tackle the proliferation of counterfeit and non-type-approved devices through stronger market integrity.

The ALTON boos described the grey market as a major challenge affecting consumers, Original Equipment Manufacturers (OEMs) and the wider telecommunications ecosystem.

According to him, robust local manufacturing supported by strong quality standards will provide credible alternatives to grey-market imports.

He said effective type approval, competitive pricing and consumer confidence would encourage wider acceptance of locally manufactured smartphones.

“This will strengthen consumer protection, improve network performance, retain greater value within our economy, and stimulate industrial growth,” he said.

Mr Adebayo also endorsed innovative smartphone financing, stronger device management systems and identity-enabled credit frameworks.

He added that the initiatives would enable more Nigerians to acquire quality smartphones through affordable payment models.

According to him, telecom operators remain ready to partner with the government, manufacturers, financiers, academia, investors and development partners to build sustainable local manufacturing.

The ALTON boss described the initiative as a national economic transformation agenda capable of creating jobs and strengthening Nigeria’s position in the global digital economy.

Continue Reading

Brands/Products

PRovoke Media Crowns Woodrow Africa Agency of the Year

Published

on

Woodrow communications PR agency

By Adedapo Adesanya

Woodrow has been named Africa Agency of the Year 2026 by PRovoke Media, one of the world’s leading authorities on the communications industry.

The award recognises Woodrow’s rapid growth across the continent and its work supporting clients navigating some of Africa’s most complex communication, policy, reputation and stakeholder challenges.

In announcing the award, PRovoke Media described Woodrow as “a different kind of communications firm for Africa. Built locally, but operating across borders, with a focus on high-stakes, high-complexity mandates that reflect the realities of the continent’s political and economic landscape.”

Founded five years ago by Mr Charlie Tarr, who has spent more than two decades working across African markets advising various organisations, Woodrow has grown from its Nairobi headquarters into a multi-market African consultancy. It now has teams and partners across Kenya, Nigeria, Ghana, Zambia, Senegal and South Africa, delivering work across 13 countries.

Since 2024, Woodrow has more than doubled revenue, expanded delivery across more African markets and supported assignments that have generated global audiences exceeding 70 million people in multiple markets.

Speaking on the recognition, Mr Charlie Tarr, Founder and CEO of Woodrow Communications, said, “When we started Woodrow, we believed Africa deserved communications advice built for Africa’s realities, not imported templates. This recognition is a testament to our people, our clients and our belief that world-class strategic communications can be built from the continent and compete with the very best anywhere in the world. This feels more like a beginning than an arrival.”

Adding his input, Mr David Karega, Head of East and Southern Africa, added, “This award belongs to the team and the clients who have trusted us with some of their most important moments. From major launches and investment announcements to reputation management, policy engagement and crisis situations, we have had the privilege of helping them achieve influence. It shows that globally recognised PR excellence can be built from Nairobi and delivered across Africa.”

Woodrow’s growth has been driven by its local-first operating model, combining deep in-market expertise with regional coordination and strategic advisory support. It supports organisations such as AGRA, Bupa Global, BIC and a range of international foundations, investors and development institutions working across Africa.

Looking ahead, Woodrow is investing in new capabilities around digital influence, audience intelligence and integrated stakeholder engagement to help clients navigate the media landscape in Africa.

“Africa has never been a side conversation for us,” Mr Tarr added, “It sits at the centre of our work and future. The continent is producing some of the world’s most important opportunities in technology, investment, food systems, climate and economic transformation. We are excited to continue helping clients shape those conversations, build influence and contribute to Africa’s growth.”

Continue Reading

Brands/Products

SportyTV Joins DStv and GOtv Line-Up Across Africa

Published

on

SportyTV DStv and GOtv packages

SportyTV has been added to select DStv and GOtv packages in Nigeria, expanding the sports content available to subscribers. The 24-hour sports channel offers a range of live sporting events alongside news, analyses, highlights and is available to DStv Yanga and GOtv Jolli customers. The channel is also available on GOtv in Kenya and Ghana.

The addition of SportyTV complements the existing sports offering on DStv and GOtv, providing subscribers with access to additional football, basketball and combat sports content.

“SportyTV is a valuable addition to the DStv Access and GOtv Value content offering across Africa,” said David Mignot, CEO of CANAL+ Africa. “It expands the range of sporting events available to customers at an accessible price point and reflects our commitment to making quality sports content available to audiences across the continent.”

Sudeep Ramnani, Founder and CEO of Sporty Group, said: “Our ambition has always been to provide African audiences with broad access to sports content and storytelling. Through this partnership with CANAL+, we are extending that offering to more households across the continent.”

“The SportyTV channel gives DStv and GOtv subscribers additional viewing options that complement SuperSport’s existing range of sports programming,” said Rendani Ramovha, Director of Sport Content for English and Portuguese-speaking Africa at CANAL+. “It broadens the overall sports proposition with additional live events and supporting content.”

SportyTV’s football schedule includes competitions such as the English Premier League, Carabao Cup, EFL Championship, Women’s FA Cup, La Liga, Bundesliga, Serie A and the Spanish Super Cup. The channel also carries South American competitions including the Copa Libertadores, Argentina League and Brazil Serie A, as well as select basketball and other international sports content.

Elias Gallego, Vice President of Business Development, Marketing and Media at Sporty Group, said: “Launching SportyTV on DStv and GOtv allows us to extend our reach and bring a broader range of sports content to viewers across Africa.”

SportyTV will also carry dedicated club channels including Real Madrid TV, Arsenal TV, Chelsea TV and Manchester City TV. Additional content includes coverage from leagues in Greece and Saudi Arabia, alongside basketball programming featuring the NBA.

The channel launched on 10 June 2026 and is available in HD on DStv channel 236 and GOtv channel 58 in Nigeria.

Continue Reading

Trending