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 Moniepoint ranked Africa’s fastest-growing  fintech by the Financial Times

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Moniepoint ,a global technology company with a focus on financial services in Africa and other emerging markets has been ranked by the Financial Times as Africa’s fastest-growing fintech.the fastest-growing fintech milestone and

According to Africa’s Fastest Growing Companies survey, this is the second consecutive year Moniepoint has achieved both the fastest-growing fintech milestone, and, ranked in Africa’s top four fastest-growing companies overall.

Tosin Eniolorunda, Group CEO of Moniepoint Inc., said: “We are thrilled to be recognized by the Financial Times as Africa’s fastest growing fintech for the second consecutive year. Achieving rapid growth and scale is a fantastic achievement; maintaining that year-on-year is even better. The ranking is a testament to the dedication and hard work of the entire Moniepoint team, and the trust of millions of customers across Africa in the Company.

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

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

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

Last year, the Company entered the personal banking market via its subsidiary Moniepoint Microfinance Bank – offering reliable banking services to millions of individuals across Nigeria. It also doubled its global headcount, growing to over 1,800 employees by the end of 2023.

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This recognition highlights Moniepoint’s success as Africa’s leading fintech, driving financial inclusion by empowering underserved businesses and individuals to access the formal financial system, contributing to a key goal of the Nigerian government.

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Val Lukhanyu
Val Lukhanyu
I cover technology news, startups, business and gadget reviews

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