Minister of Foreign Affairs, Yusuf Tuggar, praised Moniepoint as a strong representation of Nigeria’s fintech sector during his UK visit. Moniepoint, founded in 2015, has grown into a leading digital financial services provider with multibillion-dollar valuation and significant backing from global investors. Its success contributes to job creation and financial inclusion in the economy.
The Nigerian Minister of Foreign Affairs, Yusuf Tuggar, recently praised Moniepoint for exemplifying the strength of Nigeria’s tech industry during his visit to the company’s UK offices. Moniepoint, which began as TeamApt Inc. in 2015, has developed into a leading digital financial services provider in Lagos, attracting millions of users.
Tuggar described Moniepoint as a remarkable success story and highlighted its valuation as a fintech unicorn. He stated that Nigeria holds a strategic position in the fintech sector and emphasized the importance of instilling confidence in Nigerian firms as they operate globally. He noted that Moniepoint is evidence of the robust fintech ecosystem in the country.
The Minister acknowledged Moniepoint’s substantial support from global investors such as Google’s Africa Investment Fund, Visa, and BII, underscoring its leadership in fintech. He explained that a vigorous fintech sector leads to job creation, enhanced financial inclusion, and a stronger Nigerian economy.
Tosin Eniolorunda, Moniepoint’s CEO, reaffirmed the company’s mission of empowering business owners and promoting financial well-being across Africa. He asserted that innovative financial tools can drive both economic growth and social progress, highlighting the significance of collaboration for innovation in fintech.
Eniolorunda expressed Moniepoint’s alignment with the Nigerian government’s vision for cooperation in trade, investment, and technology. He emphasized the company’s commitment to enhancing Nigeria’s digital economy while fostering durable partnerships that benefit both local and global communities.
Moniepoint’s leadership has been recognized in the industry, with the company being identified as Nigeria’s largest merchant acquirer. Processing over one billion transactions monthly, with a payment volume exceeding $22 billion, Moniepoint supports numerous small and medium-sized enterprises, particularly in the informal sector, facilitating their transition to the digital economy.
Overall, the recognition of Moniepoint by Minister Yusuf Tuggar highlights the company’s significant contributions to Nigeria’s fintech landscape. The strong backing from global investors and Moniepoint’s commitment to empowering local businesses further solidify Nigeria’s position in the international fintech arena. Continuous collaboration and innovation are essential for sustaining growth and enhancing the economic prospects of the region.
Original Source: punchng.com
