Paystack, the fintech giant that has become the backbone of digital commerce in Africa, has announced a major structural evolution to celebrate its 10th anniversary. The company is transitioning into The Stack Group (TSG), a parent holding company designed to manage a diversifying portfolio of brands that now span beyond merchant payments into banking, consumer finance, and artificial intelligence.
The move comes as the company reveals a significant financial milestone: achieving group-level profitability. Since its high-profile acquisition by Stripe in 2020, Paystack has grown its payment volume by a staggering 12x.
The Stack Group (TSG) serves as a corporate umbrella for a family of brands that will remain operationally independent while sharing a unified vision for African business. The founding shareholders of TSG include global payments leader Stripe, Paystack Founder and CEO Shola Akinlade, and Paystack employees.
Under this new Alphabet-style structure, TSG will initially house four distinct units:
- Paystack: Continues its core mission of innovating within merchant payments.
- Zap: A consumer-facing app focused on simplifying bank transfers and everyday payments.
- Paystack Microfinance Bank (MFB): Recently launched following the acquisition of Ladder Microfinance Bank, providing credit and banking infrastructure to over 300,000 merchants.
- TSG Labs: A venture studio tasked with building “beyond fintech,” with a specific focus on emerging technologies and AI-led products.
The launch of Paystack MFB is perhaps the group’s most strategic move toward autonomy. By functioning as a standalone bank, the group can now internalize core financial rails, reducing its reliance on third-party banking partners. This allows TSG to offer faster, more “elegant” credit and money-movement solutions tailored to the specific cash-flow needs of African businesses.
“The launch of TSG signals a larger scope of ambition for us and sets the tone for the next decade,” says Shola Akinlade, CEO and Founder. “It is clear that there are significant opportunities to support businesses beyond payments, and TSG enables us to address the challenges African companies face.”
Currently, Paystack is licensed and operational in Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa, with further regulatory approvals secured for Egypt and Rwanda. Collectively, these markets represent approximately 46% of Africa’s GDP, positioning TSG as a dominant player in the continent’s digital transformation.
The restructuring, which was formally signed in October 2025, remains subject to final regulatory approvals.
[Secure Your Seat at Africa Tech Summit Nairobi 2026 | February 11–12 here] Use code TTRENDS10 at checkout to save 10% on your pass and join the leaders building Africa’s $1 trillion cross-border payment future.
Go to TECHTRENDSKE.co.ke for more tech and business news from the African continent.
Follow us on WhatsApp, Telegram, Twitter, and Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates. Send tips to editorial@techtrendsmedia.co.ke
