Rating Agency Upgrades Payaza from BBB to A-

Payaza has received an upgrade in its rating from BBB to A- by Agusto & Co., reflecting growing confidence in the fintech firm’s financial strength, operational performance and long-term growth prospects.

The latest rating upgrade adds to a series of recent positive assessments for the company, including an upgrade from A to AA- by DataPro and an A- rating from Intelligent Africa. Moody’s had also earlier upgraded Payaza’s rating to A3.

The company said the development reinforces its growing reputation among investors, regulators, enterprise clients and business partners as a reliable and institutionally trusted financial technology company.

According to the firm, the latest assessment reflects its focus on prudent management, operational resilience, governance and sustainable growth in Africa’s increasingly competitive fintech sector.

Payaza has recently expanded its product offerings with the introduction of “Chat and Pay by Payaza,” a solution that enables merchants to receive payments and issue receipts through WhatsApp.

The company also launched Shopaza, a storefront platform aimed at helping businesses sell products across multiple regions and manage payment collections seamlessly.

Chief Executive Officer of Payaza, Seyi Ebenezer, described the upgrade as recognition of the company’s long-term strategy and operational discipline.

He said: “This upgrade is a strong affirmation of the discipline, consistency and long-term value we are building at Payaza. It shows that our growth is being matched by stronger institutional confidence, and that the market is recognising the strength of our model, our execution, and our vision for the future.”

Industry observers say the latest upgrade highlights a broader shift within Africa’s fintech ecosystem, where investors and stakeholders are increasingly placing emphasis on governance, institutional credibility and sustainability alongside innovation and rapid growth.

Payaza provides payment infrastructure solutions for collections, payouts and embedded financial services, with operations focused on supporting businesses through scalable and accessible payment systems across Africa and other markets.