In a move that reflects the growing convergence of fintech and insurance in Nigeria,Paga has entered into a strategic partnership with Leadway Assurance to deliver comprehensive insurance solutions designed specifically for Doroki merchants.
Under partnership, Doroki merchants will gain access to tailored insurance solutions designed to protect the critical components of their day-to-day operations, thereby, safeguarding their income, assets, and continuity of operations.
Beyond offering coverage, this initiative, according to both parties, is built on a holistic approach to risk resilience.
Both companies will also provide simplified guidance on coverage options, claims processes, and basic risk management practices, helping merchants understand not just what they are buying but how to use insurance effectively when it matters.
Industry observers say the initiative addresses a long-standing gap in Nigeria’s insurance market, where micro and small businesses account for a large share of economic activity but remain largely uninsured due to complexity, cost, and low trust.
Commenting on the partnership, General Manager, Doroki Merchants, Arike Okwunowo, said the collaboration reflects Doroki’s commitment to supporting merchants beyond payments, “Our merchants are at the heart of everyday commerce across Nigeria. Working with Leadway, an insurer with deep experience across and credibility, means they can focus on growing their businesses with the confidence that their livelihoods are protected,” she said.
From Leadway’s perspective, the partnership aligns with efforts to expand insurance penetration by meeting customers where they already operate.
Head of Digital Business at Leadway, Diana Mulili, said embedding insurance within the Doroki platform makes protection more relevant and work. By integrating simple, practical cover into a trusted merchant platform, we are helping business owners protect their income and assets while building long-term resilience,” she noted.
Beyond immediate financial protection, the initiative seeks to promote a culture of preparedness among small business owners, an area experts say is critical for sustainable growth in an environment characterized by economic volatility and operational risks.
Paga, through Doroki, provides digital payment and value-added services to thousands of merchants nationwide, supporting secure transactions, cash management, and financial access. Leadway Assurance, founded in 1970, remains one of Nigeria’s leading non-banking financial services groups, with offerings spanning insurance, pensions, health, trust, and asset management.
