By Juliet Umeh

Central Bank of Nigeria, CBN, licensed fintech platform, is on course to grow its active subscriber base to over three million by 2022, data released by the company has shown.

The mobile money platform, the leading provider of digital services for e-commerce shoppers in Nigeria, is one of the thriving subsidiaries within the Konga Group, Nigeria’s e-commerce giant.

Feelers from within the company indicate that KongaPay was recently repositioned to take a greater share of the payments market in Nigeria, a development that has seen the platform taking the fintech space by storm. The move has seen KongaPay – which has witnessed an astronomical 400 percent rise in adoption, growing from about 272,000 to 1.1 million subscribers within a space of less than three months and from a paltry 81,000 wallets at the point of acquisitionin 2018 by the Zinox Group – now on its way to tripling its subscriber numbers in the next one year to over three million.

The management of KongaPay said it is also targeting an ambitious growth in active usage by 25 percent in 2022.

VP, KongaPay, Mr. Isa Aliyushata said the fintech platform is equally set to roll out additional smart features of great products and services offerings.

He said: “KongaPay is set to take a greater share of the market, in line with the exciting offerings on the cards which we are set to unveil soon. We have not only enjoyed greater engagement and increased transactions from our existing subscribers but have also seen a huge leap in adoption by new subscribers.

“KongaPay is currently growing at a rate of 400 percent month-on-month and we are envisaging our subscriber base to hit and possibly exceed the three million mark by 2022. This is all down to the hard work still ongoing behind the scenes to make KongaPay the payment platform of choice for millions of Nigerians, the loyalty and confidence we have enjoyed from Nigerians, as well as the smart features and additional products and services we are adding to our growing bouquet of offerings.

“As we continue to take pride in our great vision to constantly solve the challenges of the payment ecosystem globally, KongaPay remains relevant in the minds of its customers with great innovation and hybrid technology solutions,” he stated.

Meanwhile, KongaPay was recently identified by Statista, a globally renowned market and consumer data firm, as the leader in providing e-payment services for e-commerce transactions in Nigeria and a foremost enabler of online shopping in Africa’s biggest market.

The platform offers a long list of services to subscribers including card less withdrawals for all banks in Nigeria, money transfer to individual accounts or various accounts at once, receiving payments from customers, creditors or benefactors through a variety of means, airtime purchase from various telcos or network providers such as MTN, Airtel, Glo and 9Mobile among others.