The African FinTech landscape is the forefront of this change as it evolves rapidly, focusing on the closing of dynamic ecosystem and financial inclusive gaps, supporting the growth of African Fintech Startup. I use that expertise and resources to do
As a famous digital payment player, VISA invests in Nigeria's business payment and financial service platform, MoniePoint Inc.
This investment represents a major advancement in visa commitments to improve the financial inclusion of visa, form the future of digital payments, and promote the growth of small and medium -sized enterprises throughout Africa.
Read: Moniepoint will enhance financial access with new collaboration
Moniepoint (formerly known as Teamapt) was established in 2015 by Tosin ENIOLUNDA and FELIX IKE, and later as a major financial platform for large networks of large and medium -sized businesses (small and medium -sized enterprises). Establish status and provide integrated service suite. Digital payment, bank account, credit, foreign exchange (FX), and management tools. The platform has more than 1 billion transactions each month, the total payment is $ 22 billion, and companies can automate business and prosper in Africa's rapid economy.
With this investment, VISA supports the mission of the monitoring point of giving power to African companies, further accelerating the growth and expansion of the entire continent. Moniepoint's highly profitable scalable business model, along with its powerful operation and financial results, has positioned it as a change in the African Fintech Eco System.
Tosin ENIOLUNDA, founder and group CEO of Moniepoint Inc., states: VISA's support is a powerful support of our vision of digitizing and supporting large -scale African businesses. At the same time, we aim to deepen financial inclusiveness and to access the tools and resources necessary for small and medium -sized enterprises to prosper in the digital economy. Given that about 83 % of the entire employment in Africa is in the unofficial economy, we are very enthusiastic about expanding the official financial system and promoting the economic growth of the whole Africa. “
He continued. “VISA's expertise in global payments and moniepoint's proven abilities that serve African companies have opened this partnership, despite opening the path to a more comprehensive and dynamic financial ecosystem. It is an exciting opportunity to form a future, and we are pleased with VISA to enhance the financial service.
The Central and East Europe's regional president, the Middle East and Africa's visa Andrew Toret added: MoniePoint helps to transform the Nigeria and later business operations by making financial services and digital payments easier and more efficient. We look forward to supporting the next stage of their growth and innovation. “
“VISA investment in Moniepoint is the latest example of a long -term commitment of promoting digital economy in Africa. SMEs can expand and release new profitable opportunities for small and medium -sized enterprises. Make it possible to grow through innovative payments and software solutions.
Moniepoint has been experiencing index -functional growth since its establishment in 2015, and its revenue has recently increased over 150 %. The company's efforts to expand access to financial services are closely consistent with visa missions that individuals and companies can prosper in the global economy.
Celebrating both parties and celebrating this strategic investment in the monster point (NIPC), emphasizing Nigeria's appeal for investors for its favorable business environment. 。 In addition, NIPC praised the monster point as a model for Nigeria's outstandingness, contributing to a great value to a global financial ecosystem. The Committee emphasized the commitment of supporting investors and promoting economic cooperation in finance and technology in order to support Nigeria's fulfilling economic potential.
This partnership combines Moniepoint's local expertise with innovative business models and VISA's global resources and abilities. Moniepoint and VISA aim to accelerate digital transformation of small and medium -sized businesses in Africa and promote economic package and long -term economic prosperity.
