Tag: Moniepoint

Moniepoint Inc., a Nigerian business-banking unicorn, has completed its acquisition of a 78% stake in Kenya’s Sumac Microfinance Bank, ending a multi-year effort by the Nigerian fintech to secure a foothold in East Africa’s largest economy. The deal was finalised on Thursday as executives gathered for a reception in Nairobi’s Westlands area. It provides Moniepoint

Nigerian fintech unicorn Moniepoint has partnered with AfriGO, the national domestic card scheme, to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria. The move aligns with Nigeria’s ongoing shift toward contactless payments. The partnership could drive widespread adoption of contactless payment in Nigeria considering Moniepoint’s wide distribution network across the country.

Moniepoint, a Nigerian business payments and banking services platform, has secured an investment from Visa to advance financial inclusion and shaping the future of digital payments while fostering SME growth across Africa. Visa joins other notable investors including Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, QED Investors, Novastar Ventures, British International Investment