The Nigerian Minister of Foreign Affairs, Yusuf Tuggar, commended Moniepoint during his visit to its UK offices. Recognized as a fintech unicorn, Moniepoint has a significant impact in the Nigerian tech space. The Minister emphasized the company’s role in fostering economic growth and financial inclusion, backed by notable global investors.
Yusuf Tuggar, the Nigerian Minister of Foreign Affairs, has praised Moniepoint as a symbol of strength within Nigeria’s technology sector during his visit to its UK offices. Formerly TeamApt Inc., Moniepoint emerged in Lagos in 2015, founded by Tosin Eniolorunda and Felix Ike. The company has evolved into a notable digital financial services provider serving millions.
During his visit, Ambassador Tuggar described Moniepoint as a “true Nigerian success story,” recognizing its emergence as a fintech unicorn valued at several billion dollars. He emphasized Nigeria’s advantageous position in the fintech landscape, urging a continued effort to instill confidence in Nigerian enterprises as they pursue global expansion. Moniepoint exemplifies the vitality of Nigeria’s fintech ecosystem.
The Minister also highlighted Moniepoint’s substantial support from global investors such as Google’s Africa Investment Fund, Visa, and the British International Investment (BII), reinforcing its leadership role in the sector. He noted that a robust fintech industry results in job creation, enhanced financial inclusion, and a more resilient economy for Nigeria.
Tosin Eniolorunda, the Chief Executive Officer of Moniepoint, echoed these sentiments, affirming the firm’s dedication to empowering business owners and improving financial well-being across Africa. He stated that innovation and efficiency in financial tools could significantly drive economic and social progress.
Emphasizing the importance of international collaboration, Eniolorunda acknowledged the role of global partnerships in promoting innovation, especially in fintech. He expressed optimism about Nigeria’s potential for growth through strategic alliances with international entities, aiming to unlock new advantages for both local and global communities.
Eniolorunda remarked that Moniepoint aligns well with the Nigerian government’s vision to enhance cooperation in trade, investment, and technology. The company aspires to continue advancing Nigeria’s digital economy while establishing impactful collaborations for future generations.
Moniepoint’s industry leadership has been recognized by various analysts, noting its status as the largest merchant acquirer in the country. It processes more than one billion transactions monthly, facilitating over $22 billion in payment volumes, thereby helping numerous small and medium enterprises, particularly within the informal sector, to modernize and engage in the evolving African marketplace.
In summary, Ambassador Yusuf Tuggar’s commendation of Moniepoint illustrates the company’s pivotal role in showcasing Nigeria’s burgeoning fintech industry. With significant global investment backing and a robust operational foundation, Moniepoint exemplifies the potential for innovation and economic growth in Nigeria. The continued commitment to strengthening international collaborations further highlights the importance of the fintech sector in propelling Nigeria’s digital economy.
Original Source: punchng.com
