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Paystack Launches The Stack Group as Pan-African Tech Powerhouse

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Paystack, the leading African payments platform solving complex financial challenges for businesses across the continent, has launched The Stack Group (TSG), a new parent holding company that consolidates its expanding family of technology brands.

Paystack Launches The Stack Group as Pan-African Tech Powerhouse

Paystack

Founding shareholders of TSG include global payments giant Stripe, Paystack Founder and Chief Executive Officer Shola Akinlade, and key employees from the Paystack team, with agreements formalised in October 2025 pending necessary regulatory approvals.

Since Stripe’s strategic acquisition of Paystack in 2020, the company has recorded exponential growth, achieving a 12-fold increase in payment volumes while securing licences and operations in five African markets—Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa—alongside regulatory approvals for Egypt and Rwanda, collectively representing approximately 46 percent of Africa’s gross domestic product.

This pan-African expansion, driven by a product-first strategy, has propelled Paystack to profitability at the group level, a key milestone announced alongside the TSG launch.

The formation of TSG follows closely on the heels of Paystack Microfinance Bank’s (MFB) recent debut in Nigeria, operating as a fully independent bank to internalise critical financial infrastructure and deliver banking and credit services tailored for more than 300,000 Nigerian merchants.

These integrated capabilities empower the development of seamless, compliant end-to-end money movement solutions, reinforcing Paystack’s core mission to build innovative technology that fuels African ambition and addresses unique continental business needs.

Under the TSG umbrella, the portfolio encompasses Paystack for merchant payment innovations, Zap for consumer-focused payments, Paystack MFB for banking services, and TSG Labs dedicated to pioneering emerging technologies and developing novel products both within financial technology and beyond.

Each entity maintains operational independence while sharing core values and specialised expertise in crafting solutions for Africa-specific challenges, fostering synergies across complementary domains.

Shola Akinlade, speaking on the landmark development, declared that the launch of TSG heralds an era of broader ambition, setting the strategic direction for the company’s next decade of impact.

“Having partnered with thousands of businesses continent-wide since 2016, the vast opportunities to extend support beyond payments are evident, and TSG positions us to confront the multifaceted hurdles African enterprises encounter,” Akinlade stated.

He extended gratitude to the Stripe team for their unwavering faith in Africa’s technological promise and Paystack’s capacity to pioneer transformative innovations for the continent and global markets.

This corporate restructuring coincides with Paystack’s 10-year anniversary celebrations in January 2026, underscoring a decade of resilience, innovation, and market leadership in Africa’s burgeoning digital economy.

Industry observers view TSG as a bold masterstroke that not only safeguards Paystack’s legacy but also amplifies its potential to shape the future of financial services, commerce, and technology across Africa at a time of rapid digital transformation and heightened investor interest in the region’s fintech ecosystem.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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General News

Winners Emerge in KidsCook Showdown 2.0 Programme

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L-r: Mrs. Enitan Tanimowo, Convener, KidsCook Showdown; Damilare Adeniran, student of Pastor Adegboyega Nursery and Primary School, Ketu; Chef Mariam, Competition Judge; Chef David, Competition Judge; Gold Obi Besong, student of Pastor Adegboyega Nursery and Primary School, Ketu; Chef Asatta, Competition Judge; Daniella Tanimowo, Participant; and Adebayo Tanimowo, Co-convener, KidsCook Showdown, presenting the first-place winners of the KidsCook Showdown 2.0 cooking competition for children aged 6 to 8, held recently in Lagos.
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The dual of little Damilare Adeniran and Gold Obi Besong, students of Pastor Adegboyega Nursery and Primary School, Ketu emerged overall winners in this year’s KidsCook Showdown 2.0 held over the weekend.

KidsCook Showdown is an initiative of Dominion Consultancy Concepts, aimed at introducing children between the ages of 6 and 8 to household chores early.

At the grand finale of the contest that featured four schools with two cooking contests of pasta and swallow, Pastor Adegboyega Nursery and Primary School, Ketu secured the highest points by the three judges, Aina Memorial Nursery and Primary School was the runners up; while Oke-Ifako Nursery and Primary School, Gbagada took third place.

Mrs. Enitan Tanimowo, Director, Dominion Consultancy Concepts, organiser of the event, said the goal of KidsCook Showdown is to inspire children to see cooking not just as a chore, but as a fun, creative way to develop themselves, learn discipline, and build confidence and these skills help them into the future.

“It is a thing of joy for us. When we started, it was a case of what can these children do? After all they are too small. But, we found out that the children can do things, they are not babies. What we are doing today is to prove that our children can do much more if we entrust them with that responsibility.

“There are a lot happening in our environment especially as many adults lack responsibilities today which can be trace back to upbringing. This event reminds parents of the need to train their children the way they should go, so, when they grow up they will be balance by understanding what responsibility means.

Tanimowo added that the initiative directly aligns with the United Nations Sustainable Development Goals—specifically SDG 3 (Good Health and Well-being) and SDG 4 (Quality Education)—by using hands-on, practical learning to promote balanced nutrition and social development. The event is bringing together parents, teachers, and professionals to champion the next generation.

Looking forward to 2027

She said the goal is to impact more children. This year, we worked with 6 schools in partnership with LASUBEB. And we want to impact more schools across different local governments in Lagos State.

“There’s need to equip our children to be hand-on, be diligent and responsible, it helps them. One research I read reveals that when children are taught how to be responsible at home, it helps them academically. This is one fact that many parents don’t know.

“One thing we have observed since the beginning of this initiative is that a lot of children within the ages of 6 and 8 are not taught how to be responsible at home.

These children should be capable at this age because their brain is already developing cognitive skills, the message is that parents need to do more in training our children better to be more responsible, be hands-on, it does help them. It helps the country as a whole because if we have more people that are responsible, they will be able to solve problems, take initiatives and as well build their businesses.

“We are excited by the level of participation in this edition and plans to reach out to more local governments in Lagos state. Our goal is to impact more children to be hands-on and responsible and in turn develop entrepreneurship skills in the children.


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Paystack Launches Programme to Support Nigerian Businesses

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Paystack, one of Africa’s leading payments technology companies, has launched a programme to support Nigerian small businesses through a range of initiatives designed to help them grow, connect with relevant opportunities and access funding.

The scheme known as Paystack Small Business Programme will support businesses as they start, manage and grow their operations, starting with Paystack Small Business Bundle. The bundle gives eligible Nigerian merchants access to up to N4 million in discounts on tools and services from selected partners across key areas of business operations, including commerce, bookkeeping, logistics, design, workspace, customer communication and digital tools.

Small businesses play a significant role in Nigeria’s economy, but many still face daily operational challenges, from managing sales and records, reaching customers, handling deliveries, and accessing affordable tools.

The programme has been developed to provide practical support for these businesses as they manage daily operations and plan for their next stage of growth.

According to the firm, the Paystack Small Business Programme will start with different initiatives.

The firm explained that through the small business bundle, eligible merchants can access offers from partners including Bumpa, Ijeworks, Wiicreate, Flowcart, Simplebks, Africaworks, Paystack, Kindlybook, FezDelivery, Gamp, Pressone, Mercurie, Shuttlers and Canva.

Paystack is targeting 2,000 Nigerian SMBs for the small-business bundle, with additional partner offers expected over time.


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FG Moves to Track Ransom Payments Through Cashless Reforms

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Federal Government is considering the reintroduction of a stricter cashless policy as part of efforts to combat kidnapping and other criminal activities across the country.

FG Moves to Track Ransom Payments Through Cashless Reforms

Security sources said the proposal is being reviewed alongside ongoing military and intelligence operations aimed at dismantling kidnapping networks and disrupting their sources of funding.

The sources disclosed that limiting the use of cash could make it more difficult for kidnappers and other criminal groups to receive ransom payments without detection.

According to the officials, many criminal organisations prefer cash transactions because they leave little or no financial trail, making it difficult for law enforcement agencies to trace payments and identify those involved.

They explained that ransom payments processed through formal financial channels are easier to monitor and investigate, thereby providing valuable intelligence for security agencies.

The sources noted that strengthening the cashless policy could improve the ability of authorities to track suspicious financial transactions and uncover criminal networks operating across the country.

Speaking on the development, security analyst Mr Iyke Odife described kidnapping for ransom as one of Nigeria’s most pressing security challenges.

Odife said victims of kidnapping now cut across various segments of society, including farmers, students, travellers, traditional rulers and residents of rural communities.

According to him, the widespread use of cash in the economy has continued to provide opportunities for criminal groups to receive and move ransom payments without attracting attention from security agencies.

He argued that reducing cash-based transactions could significantly limit the operational freedom of kidnappers and other organised criminal groups.

“The heavy reliance on cash makes it easier for criminal elements to collect and transfer ransom money without leaving a trace.

“A more robust cashless system could help security agencies track illicit financial flows and strengthen efforts to combat kidnapping,” he said.

The move comes amid growing concerns over insecurity in several parts of the country, where kidnapping for ransom has remained a major threat despite ongoing security operations.

Analysts, however, stress that any strengthened cashless policy should be accompanied by improved digital infrastructure, financial inclusion measures and enhanced cybersecurity to ensure its effectiveness.

The Federal Government is yet to make an official announcement on the scope and timeline of the proposed policy.


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