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Tag: Moniepoint

Kenya clears Moniepoint’s acquisition of Sumac Microfinance Bank
News

Kenya clears Moniepoint’s acquisition of Sumac Microfinance Bank

The Competition Authority of Kenya has granted approval for Nigerian fintech firm Moniepoint to acquire a 78% stake in Sumac Microfinance Bank, marking a significant step in Moniepoint’s entry into Kenya’s tightly regulated banking sector. The deal, however, remains subject to final approval by the Central Bank of Kenya. If completed, it will give Moniepoint […]

News

Moniepoint, Afrigopay partner to expand AfriGO card adoption

Moniepoint Inc has partnered with Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System to distribute five million AfriGO cards to Nigerians. This initiative aims to enhance the government’s digital payment agenda and accelerate the nationwide adoption of AfriGO, Nigeria’s National Domestic Card Scheme. According to the statement from the two organizations, […]

News

Moniepoint secures additional funding after $110m raise

Visa has made an investment in Moniepoint Inc., Nigeria’s latest unicorn, just months after the startup raised $110 million to reach this milestone. While the exact amount of Visa’s investment remains undisclosed, the company aims to support Moniepoint’s mission to empower businesses and accelerate its growth across Africa. Visa is also focused on promoting financial […]

Suspect arraigned for allegedly stealing N1.1bn from Moniepoint
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ICYMI: Suspect arraigned for allegedly stealing N1.1bn from Moniepoint

A 43-year-old man, Sunday Ozimede, was on Monday arraigned before the Federal High Court in Lagos for allegedly hacking Moniepoint Microfinance Bank’s vault and stealing the sum of N1.1 billion. Ozimede faces three charges of conspiracy, hacking, and obtaining money by false pretenses, as brought by the Police Special Fraud Unit. Prosecution counsel, Justine Enang, […]

News

Avoid publicly sharing account numbers, Moniepoint MD warns Nigerians

The Managing Director of Moniepoint Microfinance Bank, Babatunde Olofin, has warned Nigerians about the risks of sharing their account numbers publicly, particularly during the festive season. He noted that fraudsters could exploit such information to commit cyber fraud. This was disclosed by Olofin in an interview on Sunday, according to NAN. Olofin further emphasized the […]

News

Moniepoint appoints Bayo Olujobi as CFO

Moniepoint Microfinance Bank has announced the appointment of Bayo Olujobi as its new Chief Financial Officer reinforcing the bank’s commitment to advancing financial inclusion. Olujobi, who joins Moniepoint from Stanbic IBTC Bank—a member of the Standard Bank Group—brings a wealth of experience in financial management. He previously served as the CFO of Stanbic IBTC Bank […]

Moniepoint raises $110m in funding
News

Moniepoint raises $110m in funding

Nigerian fintech Moniepoint has secured $110 million in a funding round led by Development Partners International, according to TechCabal. This new capital infusion nearly triples the company’s valuation, propelling it to $1 billion and positioning Moniepoint as Africa’s latest unicorn. Founded in 2015, Moniepoint has now joined the ranks of African fintech giants alongside companies […]

News

MSMEs are backbone of global economies – Moniepoint

The Managing Director of Moniepoint MFB, Babatunde Olofin has commended Micro, Small, and Medium Enterprises as the backbone of the global economy and vital participants in reaching the Sustainable Development Goals. This was disclosed by Olofin during the World MSME Day celebrations, according to Thisday. In thestatement, Olofin stated that with the correct backing from […]

Moniepoint records 5.2bn transactions in 2023
Tech

Moniepoint records 5.2bn transactions in 2023

Nigeria’s payments startup Moniepoint ended 2023 with 5.2 billion transactions over its online, mobile, card, and in-person payment channels, averaging 433 million transactions each month, according to TechCabal. The transactions totaled more than $150 billion in value. Compared to 2022, when the startup did 1.7 billion transactions valued at over $100 billion, that is a […]

Moniepoint gets nod to acquire Kenyan Kopo Kopo
News

Moniepoint gets nod to acquire Kenyan Kopo Kopo

Kenya’s competition authority has given Moniepoint Inc. the go-ahead to acquire Kopo Kopo, a business-focused provider of credit and payment services. Following the Competition Authority of Kenya’s clearance, Moniepoint (previously TeamApt) will continue to grow across the continent by extending its services to Kenya. One of the biggest business banking and payments platforms in Nigeria […]

MoniePoint begins retail banking, launches app, debit card
Banking

MoniePoint begins retail banking, launches app, debit card

Moniepoint has announced its entry into personal banking with the launch of a customer app and a debit card, marking a new stride in the fintech industry. With a focus on retail banking, Moniepoint will face competition from PalmPay and OPay, which also provide these services. Users of MoniePoint’s new app will be able to […]

Business

Moniepoint denies PayDay acquisition

By Christian George   Moniepoint has refuted the reports of it’s plans to acquire PayDay. This came after WeeTracker, an African tech publication, reported that the fintech was set to acquire PayDay for $40 million. In a report by Techcabal, Moniepoint is a business bank that has the largest agency banking network in Nigeria and […]

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