Financial rating agency Augusto & Co has upgraded the credit rating of fintech company Payaza from BBB to A-, reflecting improved financial stability and stronger operational performance.

The upgrade signals increased confidence in the company’s business outlook, risk management structure and ability to meet its financial obligations.

According to the rating agency, the improved score was influenced by Payaza’s growth trajectory, expanding market presence and stronger corporate governance practices within Nigeria’s financial technology sector.

Industry analysts say a higher credit rating could improve investor confidence and strengthen the company’s ability to attract partnerships and funding opportunities.

The development also highlights the growing influence of fintech firms in Nigeria’s digital economy as more businesses and consumers adopt electronic payment solutions.

Payaza has continued to expand its services within the payments ecosystem, positioning itself among emerging players driving financial inclusion and digital transactions across the country.

Stakeholders note that credit rating upgrades are often viewed as important indicators of financial health and long-term sustainability for companies operating in competitive sectors.