Minister of Foreign Affairs, Yusuf Tuggar, praised Moniepoint as a symbol of Nigeria’s fintech resilience during a visit to its UK offices. Moniepoint, founded in 2015, is a leader in digital financial services with strong backing from global investors. The firm aims to empower businesses and enhance Nigeria’s economy through innovative financial technology and international collaboration.
The Minister of Foreign Affairs, Yusuf Tuggar, praised Moniepoint as a reflection of the strength and value of Nigeria’s technological landscape during his visit to their UK offices. Moniepoint, originally TeamApt Inc., has evolved since its inception in Lagos in 2015 into a prominent provider of digital financial services with a vast user base.
Ambassador Tuggar commended Moniepoint as a “true Nigerian success story” and noted its impressive valuation as a fintech unicorn. He indicated that Nigeria possesses a strategic advantage within the fintech and financial services sectors, highlighting the need to instill confidence in local businesses as they seek global opportunities. Moniepoint exemplifies the robustness of Nigeria’s fintech ecosystem and its expansion potential.
Additionally, the Minister recognized the substantial support Moniepoint has garnered from prestigious global investors, which underlines its leadership in the fintech industry. He affirmed that a flourishing fintech sector would contribute to job creation, financial inclusion, and economic growth within Nigeria.
Tosin Eniolorunda, the Chief Executive Officer of Moniepoint, echoed the firm’s dedication to empowering business owners while fostering economic happiness for Africans. He articulated, “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 emphasized the significance of international collaboration in advancing innovation, particularly in fintech. He expressed the potential Nigeria holds and how strategic partnerships with global stakeholders could yield mutual benefits, enhancing trade, investment, and technology sectors.
Furthermore, Eniolorunda reaffirmed Moniepoint’s alignment with the government’s vision to foster collaboration that will yield a lasting impact. Moniepoint has been recognized for its market leadership, as it facilitates the majority of point-of-sale transactions in the country, processing over a billion monthly transactions with a payment volume exceeding $22 billion, thus facilitating the digitization of the informal sector and contributing to Africa’s evolving economy.
In summary, Moniepoint has been hailed by Minister Yusuf Tuggar as a beacon of Nigeria’s fintech strength and success, showcasing its growth and substantial market impact. The firm exemplifies the potential for international collaboration to enhance Nigeria’s economy, particularly in the fintech sector. With significant backing from global investors and a commitment to empowering businesses, Moniepoint stands poised to play a pivotal role in Nigeria’s digital transformation and economic advancement.
Original Source: punchng.com
