Fintech Giant – Moniepoint – Ranked as the fastest growing Fintech in Africa by the Financial Times for the second consecutive year

The world’s leading financial publication confirms Moniepoint’s rapid revenue growth

LONDON–(BUSINESS WIRE)–Moniepoint Inc. (“the Company” or “Moniepoint”), announces that it has been ranked by the Financial Times as the fastest growing fintech company in Africa.

The world’s leading financial publication confirmed Moniepoint’s recognition in its annual edition “Africa’s fastest growing companies” survey, published yesterday. It is the second consecutive year that Moniepoint has achieved the fastest growing milestone in the fintech sector and ranks among the top four fastest growing African companies overall.

The survey was compiled by Statista, a leading research company renowned for its analysis of the activities of African companies. actual performance, in a rigorous screening process. In this survey, companies are ranked based on 2019-2022 data based on (i) absolute revenue growth rate and (ii) compound annual growth rate (CAGR).

Moniepoint’s growth rates of 7,979% (absolute) and 332% (CAGR) have positioned it ahead of hundreds of leading companies from diverse industries such as technology, telecommunications, financial services and healthcare.

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Moniepoint has long been one of Africa’s largest corporate payments platforms, processing over $182 billion for customers in 2023.

Last year, the Company entered the personal banking market through its subsidiary Moniepoint Microfinance Bank, offering reliable banking services to millions of people across Nigeria. It also doubled its global headcount to more than 1,800 employees by the end of 2023.

This recognition highlights Moniepoint’s success as a fintech leader in Africa, promoting financial inclusion by enabling disadvantaged businesses and individuals to access the formal financial system, contributing to a key objective of the Nigerian government.

Tosin Eniolorunda, CEO of Moniepoint Inc. Group, said:

“We are thrilled to be recognized by the Financial Times as the fastest growing fintech in Africa for the second consecutive year. Achieving rapid growth and scalability is a fantastic achievement; maintaining it year after year is even better. The ranking is a testament to the dedication and hard work of the entire Moniepoint team and the trust placed in the company by millions of customers across Africa.

“2023 was a crucial year for Moniepoint. We entered the personal banking market for the first time and made progress in our goal of entering new African markets. 2024 will be even more exciting with continued growth and innovation, as we maintain our role as a leader in Africa’s fintech sector, promoting financial inclusion across Africa.”

Notes to the editors

Information about Moniepoint

Moniepoint Inc is a global technology company focused on financial services in Africa and other emerging markets. Since 2019, Moniepoint Inc.’s technology has powered over five million businesses and their customers, offering all the payment, banking, credit and business management tools they need to succeed. It aims to energize the dreams of companies, their employees and customers by providing them with the financial technology tools they need to thrive, regardless of their level of digital literacy.

Moniepoint Inc. currently processes the majority of Point of Sales (POS) transactions in Nigeria through its subsidiaries, processing over $182 billion in annualized TPV. It is the largest African fintech by transaction volume. It is profitable and, in 2022, became QED Investors’ first investment in Africa.

For more information please visit: https://moniepoint.com/

Contacts

Ben Rothschild

[email protected]
+44 7564 584 439

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