Payaza Africa, a fintech platform operating across 21 African countries, has received a credit rating upgrade from BBB– to BBB by Global Credit Ratings (GCR), reinforcing its investment-grade standing and financial stability.
The upgrade comes on the heels of Payaza’s early repayment of two tranches under its ₦50 billion Commercial Paper Programme — ₦14.97 billion ($9.7 million) in June 2025 and ₦5.36 billion ($3.5 million) in September 2025 — both funded entirely from internally generated revenue, according to GCR’s assessment.
The ratings agency cited the early repayments as evidence of strong liquidity management, governance discipline, and reliable cash flow generation, key indicators of financial health that investors scrutinize when evaluating fintech companies in emerging markets.
This marks Payaza’s third investment-grade rating, joining previous endorsements from Nigerian credit rating agencies Agusto & Co. and DataPro. The triple investment-grade status is relatively uncommon among African fintechs and positions Payaza favorably for future capital raises and institutional partnerships.
Payaza has evolved into a significant financial infrastructure provider serving SMEs and digital businesses across the continent. The company’s multi-country footprint spans from West to East Africa, offering payment processing, treasury management, and embedded finance solutions tailored for businesses operating in markets with varying regulatory environments.
The rating upgrade arrives at a pivotal moment for Africa’s fintech sector, which has faced increased scrutiny over profitability and sustainability following a funding slowdown in 2023 and 2024. Payaza’s ability to service debt from operating revenue rather than relying on external capital demonstrates the growing operational maturity of select African fintech players.
For investors, the BBB rating places Payaza in a more favorable risk category, potentially unlocking access to lower-cost capital and institutional investors who require minimum investment-grade thresholds. The upgrade also strengthens the company’s negotiating position with banks, partners, and potential acquirers.
The news underscores a broader trend of African fintechs transitioning from growth-at-all-costs models to sustainable, revenue-generating businesses with proven unit economics — a shift that could attract renewed investor interest in the sector.
Payaza has not disclosed immediate plans for additional capital raises or expansion into new markets following the rating upgrade.
