Yusuf Tuggar, Nigeria’s Foreign Minister, praised Moniepoint for exemplifying Nigeria’s fintech prowess during his visit to its UK offices. Founded in 2015, Moniepoint is now a multibillion-dollar fintech unicorn, reinforcing its stature through significant investment from global firms. CEO Tosin Eniolorunda emphasized Moniepoint’s commitment to empowering businesses and fostering financial instability, highlighting the company as a key player in Nigeria’s economic growth.
Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, expressed his admiration for Moniepoint, highlighting its representation of the strength within Nigeria’s fintech sector. This praise occurred during his visit to Moniepoint’s offices in the United Kingdom, where he acknowledged the company’s rapid expansion as a digital financial services provider, operating since its inception in 2015 as TeamApt Inc. Founded by Tosin Eniolorunda and Felix Ike in Lagos, Moniepoint now serves millions of users.
During his tour, Ambassador Tuggar described Moniepoint as a “true Nigerian success story” and noted its achievement as a fintech unicorn with a multibillion-dollar valuation. He asserted that Nigeria is well-positioned in the fintech and financial services sectors, stating the importance of instilling confidence in Nigerian businesses for global expansion. Moniepoint’s success exemplifies the robustness of Nigeria’s fintech ecosystem.
The Minister emphasized the substantial backing Moniepoint has received from esteemed global investors like Google’s Africa Investment Fund, Visa, and the British International Investment (BII), reinforcing its leadership in the fintech domain. He conveyed that a vibrant fintech sector contributes to job creation, financial inclusion, and a bolstered economy for Nigeria.
Tosin Eniolorunda, CEO of Moniepoint Inc., reiterated the organization’s commitment to empowering business owners and facilitating financial prosperity for Africans. He remarked, “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.”
Eniolorunda further highlighted the significance of international collaboration, particularly in enhancing Nigeria’s global partnerships and unlocking economic potential. He stated that Moniepoint aligns with the Nigerian government’s vision in promoting strategic cooperation in trade, investment, and technology to advance the digital economy.
Notably, Moniepoint’s prominence in the industry is underscored by its role as the country’s largest merchant acquirer, which facilitates the majority of point-of-sale transactions. Processing over one billion monthly transactions with a total payment volume surpassing $22 billion, Moniepoint empowers countless small and medium-sized enterprises, enabling them to engage in the dynamic African economy.
In summary, Moniepoint exemplifies the potential of Nigeria’s fintech sector, as recognized by Minister Yusuf Tuggar. This successful enterprise, backed by significant global investors, not only showcases technological advancement but also promotes economic growth and financial inclusivity. Moniepoint’s market leadership underlines the critical role of fintech in transforming the African economy while highlighting the importance of international collaboration for future development.
Original Source: punchng.com
