In a move that highlights the growing convergence of fintech and insurance in Nigeria, Paga has partnered with Leadway Assurance to provide tailored insurance solutions for Doroki merchants.

The partnership will give merchants access to coverage designed to protect key aspects of their daily operations, including income, assets and business continuity.

Beyond insurance, the initiative includes guidance on coverage options, claims procedures and basic risk management practices to help merchants to understand and effectively utilise their policies.

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 characterised by economic volatility and operational risks.