Fintech Firm to Unveil e-Commerce Platform


Sunday Okobi

A new Nigerian fintech start-up, Shago Payments Limited, will tomorrow unveil its bill payment and e-commerce platform to serve the banked and unbanked locally and internationally.

The Chief Executive Officer of the tech firm, Sabastine Enechi, described Shago payment system as a platform built to support the underserved, unbanked, and merchants in order to create a valued hub for the exposure of their goods and services as well as allowing them to earn commission on bill payment transactions.

Enechi disclosed this at a press conference in Lagos to announce the launch of the payment app, adding that Shago remains a partner to all the banks in Nigeria, to make payment and business transaction easy for the populace.

While adding that the fintech firm would provide the channel for various business transactions for its clients, mostly for those in the rural areas, he said Shago has a great future, with a focus on other areas like Artificial Intelligence (AI), e-health, agric-tech, robotics, e-commerce among others.

The CEO, who was flanked by other top executives of the company, said presently, Shago has over 3,000 clients on its platform in one year, and is also focused on having 10,000 clients more, and 200 e-businesses in the nearest future.

According to Enechi, “Shago in Hausa language means kiosk or shop front where people go to buy, sell, and make payments for services. So we are launching this easy-to-use app to create better awareness for the brand and also to educate the populace about our values and solutions.”

“The Fintech firm began operations on January 1, 2020. This is one year in operation, and we have had so many positive feedbacks, reviews, and updates, therefore it is time to launch it to the public. Today, we have been able to collaborate with some PTSPs, banks, telcos, and digital service providers as well as super agents to provide top-notch service delivery to Nigerians.

“Next year we intend to work with Central Bank of Nigeria (CBN), SANEF, and Efina to support the financial inclusion initiative being driven by CBN AND SANEF. The other plan is to increase our agency and merchant network with a key focus in the North and the eastern part of the country.”

Shago’s key services, he added, “include bill payment, collections, e-commerce, on-demand, software development as well as software as a service SAAS. The payment services enable airtime and data recharge, electricity bill payment, cable TV subscription, and so much more.”