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The African fintech ecosystem flourishes through impactful partnerships that deliver the necessary expertise, funding, and technology to bridge infrastructure gaps, foster innovative solutions, and boost financial inclusion.
Visa, a global leader in digital payments, has made a strategic investment in the Nigerian fintech firm Moniepoint to enhance financial inclusion for small and medium-sized enterprises (SMEs) across Africa.
This collaboration is set to innovate digital payment solutions, strengthen Moniepoint’s capabilities, and stimulate economic growth throughout the continent.
Tosin Eniolorunda, the Founder and Group CEO of Moniepoint, remarked, “We are excited to share that Visa is investing in Moniepoint. Their support is a powerful validation of our mission to digitize and uplift African businesses on a large scale.”
“Our joint effort aims to enhance financial inclusion, enabling SMEs to access the tools and resources required to succeed in a rapidly digitalizing economy.”
Recognizing that around 83% of jobs in Africa are in the informal sector, we are eager to expand access to and participation in the formal financial system, driving overall economic growth across the continent.
Combining Visa’s global payment expertise with Moniepoint’s established capability to serve African businesses presents an exciting opportunity to shape the continent’s economic landscape while paving the way for a more inclusive and dynamic financial system.
We are thrilled to collaborate with Visa to strengthen the digital payment infrastructure, broaden financial services, and spur innovation in Africa.
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