Moniepoint: A Pillar of Nigeria’s Fintech Success, Says Minister Tuggar
Minister of Foreign Affairs Yusuf Tuggar commended Moniepoint, a leading fintech company in Nigeria, during his visit to its UK offices. He praised its growth since its establishment in 2015, highlighting its unicorn status and support from global investors. Eniolorunda, CEO of Moniepoint, reiterated the firm’s commitment to empowering business owners and contributing to the digital economy, while emphasizing the importance of international collaboration in the fintech sector.
Yusuf Tuggar, the Minister of Foreign Affairs, recently praised Moniepoint for exemplifying the strengths of Nigeria’s fintech sector during his visit to the company’s UK offices. Established in 2015 in Lagos by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved into a sizable digital financial services provider with millions of users.
During his tour, Ambassador Tuggar described Moniepoint as a “true Nigerian success story” and highlighted its classification as a fintech unicorn with a multibillion-dollar valuation. He emphasized the significance of instilling confidence in Nigerian firms as they seek global expansion, asserting that Moniepoint illustrates the strength of Nigeria’s fintech ecosystem.
The Minister noted the substantial support Moniepoint has garnered from global investors, including Google’s Africa Investment Fund, Visa, and BII, which reinforces its position within the fintech arena. He stated that a vibrant fintech sector contributes to job creation, increased financial inclusion, and a robust economy for Nigeria.
Tosin Eniolorunda, CEO of Moniepoint, reaffirmed the company’s dedication to empowering business owners and enhancing financial satisfaction across Africa. He expressed, “By empowering individuals and businesses with financial tools that are innovative and efficient, we believe that technology can be a powerful catalyst for economic growth and social development.” This visit underscored the importance of international collaboration in advancing innovation in the fintech sector.
Moniepoint’s dominance in the market has received recognition from industry analysts. As Nigeria’s leading merchant acquirer, Moniepoint facilitates the majority of point-of-sale transactions, processing over one billion transactions monthly, with a total payments volume surpassing $22 billion. This capability supports numerous small and medium enterprises, especially within the informal sector, allowing them to digitalize and engage in Africa’s evolving economy.
In conclusion, Moniepoint’s recognition by Minister Tuggar highlights its role as a pillar of Nigeria’s fintech industry. The company’s significant backing from global investors and its potential to foster economic growth reflect the broader impact of a thriving fintech ecosystem. Moreover, Moniepoint’s leadership in processing transactions positions it as a crucial contributor to the digital economy and overall financial inclusion in Nigeria.
Original Source: punchng.com
