Moniepoint: A Beacon of Nigeria’s Fintech Strength According to Minister Tuggar

Minister of Foreign Affairs Yusuf Tuggar praised Moniepoint during his visit to its UK offices, calling it a “true Nigerian success story.” Established in 2015, Moniepoint has become a major player in Nigeria’s fintech sector, receiving significant backing from global investors. The firm aims to empower businesses and enhance the digital economy while advocating for international collaboration to unlock new opportunities.

Yusuf Tuggar, the Minister of Foreign Affairs, commended Moniepoint for its representation of the strength and value of Nigeria’s tech landscape during his recent visit to its UK offices. Known previously as TeamApt Inc., Moniepoint was established in Lagos in 2015 by Tosin Eniolorunda and Felix Ike and has expanded into a prominent digital financial services provider with millions of users.

During his visit, Ambassador Tuggar emphasized that Moniepoint exemplifies a “true Nigerian success story,” highlighting its emergence as a fintech unicorn valued in the multibillion-dollar range. He remarked on Nigeria’s advantageous position in the fintech sector, urging that confidence in Nigerian businesses should be instilled as they venture into global markets. Moniepoint showcases the robustness of Nigeria’s fintech ecosystem.

The Minister acknowledged the significant global investment support Moniepoint has received from entities such as Google’s Africa Investment Fund, Visa, and BII, reinforcing its status as a leader within the fintech industry. He asserted that a prosperous fintech sector correlates with job creation, enhanced financial inclusion, and overall economic betterment for Nigeria.

Tosin Eniolorunda, the Chief Executive Officer of Moniepoint Inc., reaffirmed the company’s dedication to empowering millions of business owners and fostering financial well-being across Africa. He stated, “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.”

Tuggar’s visit underscores the significance of international collaboration in fortifying Nigeria’s global partnerships. Eniolorunda noted that Nigeria possesses vast potential, and through strategic alliances with global participants, new opportunities can be unlocked for both domestic and international communities. He expressed Moniepoint’s commitment to supporting the nation’s digital economy while contributing to long-lasting collaborations.

Moniepoint’s leading position in the market has been recognized by analysts, noting that it is the largest merchant acquirer in Nigeria, handling over one billion monthly transactions with a total payment volume surpassing $22 billion. This capacity enables numerous small and medium enterprises, especially those in the informal sector, to digitalize their processes and engage in the flourishing African economy.

In summary, the recognition of Moniepoint by Minister Tuggar as a symbol of Nigeria’s formidable fintech landscape underscores the significance of innovation and investment in the sector. With strategic collaborations, Moniepoint aims to enhance financial inclusion and economic prosperity. The emphasis on international partnerships highlights Nigeria’s potential in the global fintech arena, setting the stage for ongoing growth and success.

Original Source: punchng.com