Moniepoint Recognized As Africa’s Fastest Growing Financial Institution

By Clement Alphonsus

Moniepoint Inc, parent company of Nigeria’s leading financial institutions, Moniepoint MFB and TeamApt Ltd has been ranked as Africa’s fastest-growing financial institution by the Financial Times.

This was disclosed 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.

According to 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.

The Group CEO of Moniepoint, TosinEniolorunda, expressed that, “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.”