Moniepoint Inc, parent company of Nigeria’s leading financial institutions, Moniepoint MFB and TeamApt Ltd has been ranked by the Financial Times, as Africa’s fastest-growing financial institution.
It confirmed Moniepointaccolade in its annual “Africa’s Fastest Growing Companies” survey, released recently. It 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.
The survey was compiled by Statista, a leading research company renowned for its insight into African companies’ actual performance.
In this survey, companies were ranked based on 2019-2022 data by their absolute growth rate of revenues and Compound Annual Growth Rate (CAGR). Moniepoint’s growth rates of 7,979 per cent (absolute) and 332 per cent (CAGR) ranked it ahead of hundreds of leading companies from diverse industries such as technology, telecoms, financial services, and healthcare.
Moniepoint Inc has long been one of Africa’s largest business payments platforms, processing over $182b for customers in 2023. It will be recalled that in August 2023, Moniepoint MFB entered the personal banking market offering reliable banking services to millions of individuals across Nigeria.
Group CEO of Moniepoint, TosinEniolorunda, said: “We are thrilled to be recognised 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.”
