hi @Ndianabasi thanks for joinig the conversation…we have learned a lot along the way and I wish I could say we planned everything. We’ve had to be nimble and pivot sometimes. It took us:
761 days to get to our first 500k users,
989 days ==> 1m
348 days ==> 2m
219 days ==> 3m
We had a clear strategy we employed on our agent network and decided early on that would be the core foundation of Paga and the vision we set out. The agent network is the hardest part of our business and our strategy continues to pay off. Unfortunately this is a business where your MVP needs to be a fully working product. Bells and whistles you can add later but the core products we have today are what we had when we launched other than deposit to bank accounts.
In terms of infrastructure this is another place we have not gone light. We invested in infrastructure. We have two live datacentres and there is not a single piece of equipment that does not have a failover. Interestingly the one thing that has always worked the way I expect it is our datacentre. I don’t worry about Paga’s systems going down - we share a wall with Stanbic IBTC datacentre to give you a sense. We take this and security VERY seriously.
Regarding M-Pesa, if you go back and measure our growth and their growth at the same period (first 3 years) you’d be amazed to see we actually grew faster. This is even though M-Pesa, with Safaricom, had 90%+ dominance in the voice business. Paga on the other hand for the first 2 years was not connected to the largest mobile operator in Nigeria for something as basic as SMS…fun times, we will blow the Kenya story out of the water soon…we are in for a long game not the short headlines.