Paystack Enters Nigeria’s Banking Sector Through Microfinance Bank Acquisition
- Paystack has acquired Ladder Microfinance Bank, marking its entry into Nigeria's banking industry.
- The new entity will be known as Paystack Microfinance Bank (Paystack MFB).
- Paystack MFB will operate alongside Paystack's existing payments infrastructure.
Paystack's acquisition of Ladder Microfinance Bank is a strategic and timely move that positions the company to capitalize on its existing customer base while diversifying its service offerings. This could lead to increased revenue streams and a stronger foothold in the competitive banking landscape in Nigeria.
