This is that story, and more importantly, this is the method that changed how I approach qualitative data.

In the Beginning

You have carried out your user interviews and research, but what do you do with the messy data you have gathered? How do you make sense of it and use it to make informed decisions?

I recently carried out a user discovery on a new feature we shipped. I grouped users into three categories because we needed to understand users at every phase of the journey and see how each step was perceived.

I started by gathering users across the different groups and creating a research plan, which I shared with the customer research team for vetting. A process was then set up for interview slots, and the journey began. But in reality, this was only the beginning.

Making Sense of the User Groups

Dividing users into groups wasn’t just for structure. It was the only way to get a complete picture of the journey.

Each group represented a different stage. Group one had completed the process. How did you complete it, and what were the hurdles you had to cross, if any? Group two was still in the process.

Are you experiencing similar hurdles or a different one entirely? Group three hadn’t started the process. What prevents you from starting this flow?

Understanding every stage helps uncover pain points and how to make the flow seamless for users throughout the cycle.

A single user group would have collapsed very different experiences into one. We would have missed the fact that blockers at the start of the journey are completely different from blockers at the end.

Carrying Out the User Interviews

Before the first call, make sure you have recording and transcription enabled on your meeting platform. Get approval from the user upfront. This is non-negotiable.

A plan? Check. Interviews scheduled? Check. Now this is where you start to acquire data.

A bunch of user interviews are lined up for the week; the interesting part is where you ask questions and listen to your users talk. Because you have a plan set up with your question bank, it makes it easier, but a user may say something you are not expecting, and it is important to ask follow-up questions to dig deeper.

We have AI infused into our meeting platform, so recording and transcribing were seamless. Tools like Otter.ai, Fireflies, or even the built-in transcription on Google Meet and Zoom work well here. The transcript becomes your best friend in the next phase. Trust me on that.

The Storm Before the Calm

Phew. The interviews are done, and it has been quite a week. Twenty calls across three different user groups, and now I am sitting with a folder full of transcripts and recordings staring back at me.

Here is the thing nobody really tells you about user research. The interviews are actually the fun part. You are in a flow state, asking questions, listening, picking up insights in real time. Post-interview is where the actual work comes in. You have raw data and have to analyse and draw insights from it.

I opened the first transcript. Then the second. By the fifth one, I already had contradicting information.

A user from group one said the process was straightforward. A user from group two said they had no idea what they were supposed to do at the exact same step. Both were right. They were just at different points in their journey.

But reading transcript by transcript, it is genuinely hard to hold it all together.

I needed a way to find patterns from these conversations without losing the nuance. That is when I turned to thematic analysis.

Introducing Thematic Analysis

Thematic analysis is a way to form patterns from qualitative data. You break down your data into labels called codes, and then group those codes into bigger themes.

Here is how I approached it. I gathered all the transcripts and read through them, coding and labelling each one.

A code is simply a short label that captures what a user is saying or feeling at that point. For example, a user said, “It took me 5 minutes to complete,” and the code for that was completion time. Another said, “One thing I like is that delivery is swift”, and the code was ‘merchant satisfaction’. Another said, “I don’t think anyone should have issues filling the information”, and the code was ‘perceived difficulty’.

Doing this across 20 transcripts, you start to pick up patterns. The same ideas are showing up just in different words. That is your signal.

Next is to group similar codes into themes. Codes like completion time, perceived difficulty, and document readiness all pointed at the same underlying problem.

They became one theme: Activation Friction. Where you have a cluster of related but distinct codes under one theme, those become sub-themes, a way of preserving the detail without losing the bigger picture.

By the end, I had 8 themes that cut across all three user groups. What made this powerful was seeing which themes were universal across the journey and which ones were specific to a particular stage.

Where AI Fits In

Now let’s address what everyone is thinking. Reading through twenty transcripts? Three groups? Coding responses manually? This sounds like a lot, and this is where AI can come in to make your work significantly easier.

Once I had my transcripts ready, I fed them into an AI tool. ChatGPT works well for this, as does Claude or a dedicated research tool like Dovetail.

I prompted it to code responses, identify similar phrases, and flag recurring sentiments. What would have taken me an entire day was done in a fraction of the time.

Here is something important, though. AI gives you a strong starting point, not a final answer. The interpretation of what those patterns actually mean for your product still sits with you. You handle the thinking.

From Themes to Product Insights

Having 8 themes is a good feeling. But themes alone don’t ship features. The next step was turning what I found into something the team could actually act on.

I broke down each theme into four sections in my research report.

What We Heard. This section was a short summary of what users said in relation to the theme, with sample quotes to back it up. For example, under the theme of Activation Friction, quotes clustered around not knowing a document was required, or needing time to gather specific documents before completing the flow.

Why It Matters. How does this theme affect the user journey? Does it cause delayed activation? Drop-off? Frustration that only surfaces later? This section connects the theme to a real business or experience consequence.

What It Means. This is where you translate the theme into a product diagnosis. Where does the issue actually come from? Is the form too long, or is it the missing visual cues that tell users what to prepare? Are users benchmarking against a competitor’s experience? This section separates the symptom from the cause.

Recommendations. Based on everything identified, what should the team do? This is where research becomes a roadmap. Before the analysis, conversations with stakeholders were centred on surface-level fixes. After that, we were talking about the right problems.

What Thematic Analysis Changed

Honestly? It changed how I think about qualitative data altogether.

Thematic analysis gave me a process, and having a process meant I could defend my insights. Walking into stakeholder meetings, the conversation wasn’t a user seem frustrated with the journey.” It was saying “across all three user groups, activation friction and perceived difficulty were the two most consistent themes, and here is the

If you are a product manager sitting on a pile of interview transcripts right now and wondering where to start, start here. The themes are already in your data. Thematic analysis just helps you find them. The messy data was never the problem. It was always the signal.

This collaboration showcases Moniepoint’s unwavering commitment to youth empowerment and human capital development across the African continent.

The competition, which was held commemoratively to celebrate this year’s International Day of the Boy Child, brought together SS2 students from across Delta State to address the critical theme:

“The Role of Financial Inclusion and Technology in Shaping a Brighter Future for Young People in Africa.”

Moniepont has received critical acclaim over its core mission of advancing financial inclusion through innovative digital financial technology solutions and payment services..

The oratory competition showcased exceptional talent among Nigeria’s youth, with Otovo Praise of Crystalloid International School emerging as the champion. His outstanding performance earned him a full-year scholarship through the Tosin Eniolorunda STEM Foundation, reflecting Moniepoint’s philosophy of investing in educational excellence.

Second-place winner Audi Innocent of St Patrick’s College received ₦300,000, while third-place winner, Asher David of Glorious Kids Academy was awarded ₦200,000.

“At Moniepoint, we believe that driving sustainable innovation begins with future-proofing and expanding the talent pool by empowering the next generation with the tools that they need to succeed especially basic literacy skills which remain fundamental pillars in socio-economic development,” said Tosin Eniolorunda, CEO Moniepoint Inc.  “These young voices represent the future of African leadership, and their insights into financial inclusion and technology demonstrate the remarkable potential that exists within our communities. Through our various educational and developmental initiatives such as the CAD/CAM lab we donated to OAU last year or the Moniepoint DreamDevs programme, we are betting big on an investment in Africa’s future.”

The initiative extends beyond monetary rewards, creating meaningful platforms for young people to express their ideas on a global stage.

Through its support of the NextGen Connect Conference and Tech-In-School conversations, Moniepoint is fostering an environment where youth can develop critical thinking skills, build confidence, and engage with pressing societal issues.

In her remarks, Founder, Mega Impact Foundation, Florence Ogonegbu said that

“We reaffirm our commitment to building an Africa where every young person has simplified access to sustainable education, capacity building, and empowerment. By leveraging technology and local initiatives, we are creating platforms that enable our youth to thrive and transform their communities. Together with partners like Moniepoint, we are not just shaping futures—we are driving a movement for social development that will resonate globally. Every boy, every young person, deserves the opportunity to unlock their full potential and drive lasting impact across our continent.”

The competition received additional support from the Ministry of Women Affairs and Social Development, Delta State, highlighting the collaborative approach required to nurture young talent effectively.

The recognition highlights Moniepoint’s continued ability to achieve strong, scalable growth. In a market where few companies successfully balance size with agility, Moniepoint distinguishes itself by maintaining operational efficiency while accelerating its expansion across the continent.

The world’s leading financial publication confirmed Moniepoint’s accolade in its annual “Africa’s Fastest Growing Companies” survey, released on 14 May, 2025.

The survey was compiled by Statista, a leading research company renowned for its insight into African companies’ actual performance, in a rigorous screening process. Companies were ranked on 2020-2023 data for their

(i). absolute growth rate of revenues and

(ii) compound annual growth rate (CAGR). 

Moniepoint’s growth rates ranked it ahead of hundreds of leading companies from diverse industries such as technology, telecoms, financial services, and healthcare.

This achievement is amplified by Moniepoint’s considerable revenue for 2023 (US$264.51 million), unmatched by peers in the ranking’s top 25.

Moniepoint is one of Africa’s leading business payments and personal banking servicing platforms, processing 1 billion+ transactions monthly, with total monthly payments volume of over US$22 billion, serving ten million businesses and individuals across Nigeria.

The accolade for actual performance highlights Moniepoint’s continued success as Africa’s leading fintech. It follows investor endorsement in October’s US$110 million Series C fundraise – and subsequent investment from global digital payments leader, Visa.

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

“We are delighted to achieve the very highest of rankings, for the third consecutive year, in the world’s leading financial publication – the Financial Times. We like to let statistics speak for themselves and accolades do not come much higher. Maintaining such rapid growth is only possible due to the hard work of the entire Moniepoint team – and I thank them all for their continued dedication.

 “We are very excited about 2025. We continue to innovate and develop new products to support financial inclusion and drive financial happiness – both in Africa and for consumers in the global diaspora.”

The ranking follows last month’s launch by Moniepoint of its first product (MonieWorld) that serves clients outside Africa.

Designed to meet the underserved needs of the UK’s African diaspora, MonieWorld is a remittance and digital financial services solution allowing UK customers to send money to Nigeria seamlessly.

It must be rooted in economic and business activities that are well underlined by data considering that it is actually more profitable to serve women.

This was the thrust of an engaging plenary session, Leveraging Data to Accelerate Access to Finance for Woman Owned and Women-Led Enterprises in Nigeria which was moderated by the Deputy Governor, Operations, Central Bank of Nigeria Ms. Emem Usoro, at the second edition of the International Financial Inclusion Conference 2024 organized by the Central Bank of Nigeria and other critical stakeholders with the theme “Inclusive Growth: Harnessing Financial Inclusion for Economic Development.

The conference brought together a rich line-up of global thought leaders, industry practitioners, and key stakeholders to discuss pressing issues around how to accelerate financial inclusion in Nigeria and showcase Nigeria’s progress on gender inclusive financing, spotlight innovative solutions for inclusion, and how to deepen financing and capacity building of Micro, Small and Medium Enterprises (MSMEs) as catalysts of economic growth.

Tosin Eniolorunda, chief executive officer and founder of Moniepoint Inc noted that financial service providers play a vital role in supporting gender-inclusive finance and that by collecting and analyzing data on gender trends in small business performance, they can craft better policies, targeted products, and support services that encourage more women entrepreneurs.

Drawing from data curated  from the Moniepoint platform, he averred that “women-owned businesses are more likely to stay active and show higher engagement rates in financial transactions.”

In cases where financial support has been extended—through investments, KYC compliance, or the provision of tools like point-of-sale devices—female-led businesses have a 7.2 percent higher activity rate than their male counterparts while looking at the gender relations with credit products, “women-owned businesses have an 87.5 percent lower loan non-performance rate (NPL) than male-owned enterprises.”

Eniolorunda also made a case for the economic potential of investing in women entrepreneurs, who have proven to be diligent and enhance profitability while calling stakeholders to pay attention to the need to drive financial inclusion in the Northern part of the country.

He continued, “Data is the new oil,” and its application in the financial sector could be transformative for women-led businesses.

Echoing similar sentiments, Dr. Jameelah Sharrieff-Ayedun, the chief executive officer, Credit Registry, said that, ”90% of women’s income that they receive goes back to the communities and their families as such when women have access to credit, the community is enhanced, families are better off which is why it’s important that they can access this funding.”

Other panelists included Chief Executive Officer, Financial Alliance for Women, Inez Murray,  and the Chief Operating Officer, Development Bank of Nigeria, Bonaventure Okhaimo who expressed belief that creating an enabling environment, with increased investor participation coupled with the willingness of other stakeholders to sit around the table and have frank conversations will move the needle on financial inclusion for women owned businesses.

In her summation, Deputy Governor, Operations, Central Bank of Nigeria Ms. Emem Usoro acknowledged some of the structural challenges that might require time and resources to be addressed including cultural practices and less systemic ones such as distance to financial services providers that stifle the participation of women owned businesses, while signposting the power of data to serve as a catalyst for inclusive growth and its viability for economic planning .

It will be recalled that the inaugural IFIC which was held in Abuja in November 2022, focused on Nigeria’s achievements since the launch of the National Financial Inclusion Strategy (NFIS) in 2012 even as it highlighted the scaling of innovative digital models in the rapidly evolving financial services landscape.

By overlooking the female economy opportunity, fintechs are leaving trillions on the table.

Accelerating the financial power of all women by working to champion the female economy and unlocking its full value has been the driving force of the Financial Alliance for Women.

In 2019, the Financial Alliance for Women identified the fintech sector as a significant business opportunity to address key issues in the financial inclusion of women globally, which the traditional sector has struggled with and instituted the Alliance Hackathon to develop scalable solutions that solve key female economy challenges.

This year’s edition, sponsored by Moniepoint Inc and HSBC, with the theme – Shaping Economies through Gender-Intelligent Fintech showcased cutting-edge solutions aimed at advancing financial inclusion and empowerment.

According to Inez Murray, CEO, Financial Alliance for Women,

“we make the business case for women’s economic advancement and help them drive profits, grow their programs through key platforms. We received a record number of entries to our annual Alliance Hackathon this year, with more than 200 fintechs from around the world applying to take part. After pouring over the applications, the field narrowed to 15 exceptional finalists selected to compete in the hack throughout early August, fine tuning their tech-based solutions to facilitate women’s financial inclusion.”

With a call to fintechs around the world to pitch creative and innovative tech-based solutions that expands women business owners’ access to finance; provides non-financial services that accelerate their business growth; supports women to invest and build wealth; and support women to mitigate and adapt to climate change, the shortlist of 15 fintechs that made the final include Penny, Pilou, Rusyve, DREX, QuickLegal, MICROWD, Halal Money Transfer (HMT), Finan Co., Ltd, Warmi, Kitspay Private Limited, HiSofi, Futa, Famunera Limited, and 6C’S Skill’s Exchange.

The shortlisted fintechs received one-on-one mentoring from a highly experienced mentor cohort featuring leaders like Moniepoint’s VP, Corporate Affairs, Edidiong Uwemakpan.

They also took part in peer learning clinics focused on building a successful women-centered strategy, and got the chance to pitch in front of a panel of high-impact executives from global financial services institutions.

Creating a solution that helps develop mass market women’s investment capabilities, Pilou, a by-women, for-women platform offering women in Latin America personalized financial education and investment tools alongside low-cost, diversified investment portfolios managed in a transparent manner has emerged first place winner as the Female Economy FinTech of the Year in the 2024 Alliance Hack.

DREX, a renewable energy financing platform dedicated to funding small to medium-sized renewable energy projects and link women-owned businesses in Ecuador in with women-owned solar farms that could cover 100% of their energy requirements took second place as Female Economy Silver Fintech Award winner and Futa, which supports small businesses in Francophone Africa by using payroll data to provide their employees with fast and fair access to financing received the Female Economy Bronze Fintech Award as third place winner.

Tosin Eniolorunda, CEO, Moniepoint Inc, acknowledged that women’s financial inclusion is not just a matter of equality – it’s a powerful catalyst for economic growth and societal progress.

“At Moniepoint, we’re committed to playing our part in unlocking the full potential of the Female Economy. This is why we chose to sponsor the Alliance Hackathon. We believe that by fostering innovation in fintech, we can accelerate the development of solutions that address the unique financial needs and challenges faced by women around the world. From expanding access to finance for women entrepreneurs to providing tools for wealth building and climate action, the challenges tackled in this hackathon align perfectly with our vision for a more inclusive future where societies can experience financial happiness and their dreams are powered,” Eniolorunda said.

Furthermore, Eniolorunda, who also served as a judge on the Hackathon said,

“To the winners, you’ve shown us that with the right tools and support, we can make significant strides in bridging the gender gap in financial services and making a real difference to improve women’s lives across the globe. Moniepoint remains committed to supporting this journey, and we look forward to seeing the impact these solutions will have in the years to come.”

Recognizing the contributions of the sponsors, Moniepoint Inc and HSBC,  Financial Alliance for Women noted that “today, five years later, we are proud of the great impact we are creating. Not only are we raising awareness within the fintech ecosystem, but we are also witnessing fintechs becoming increasingly gender-intelligent. We would like to thank you for your high-level engagement and commitment to the Alliance Hack. Without your contributions, the hackathon wouldn’t be possible.”

The flagship event, organized by the Lagos Chamber of Commerce and Industry (LCCI), with the theme, ‘New Tech: Threats and Opportunities’, brought together key players in the technology and telecommunications and financial services industries.

This year’s edition reflects Nigeria’s present journey towards a self-sustaining and productive digital economy; highlighting the transformative power of emerging technologies, mitigating the associated risks and exploring the endless possibilities they present.

The focus on fintech and telecoms sectors, evaluating their operations, challenges, yearnings and how to improve their services and productivity derives from the critical way in which they are deeply embedded in our lives today.

During a panel discussion on the impact of regulations on fintech operations and innovation, Emmanuel Abadi, partnerships Specialist at Moniepoint Inc, alongside other industry leaders, made a compelling case for increased collaboration across the fintech ecosystem.

Abadi stressed the importance of finding equilibrium between fostering innovation and implementing necessary regulations to ensure stability and consumer protection in the rapidly evolving fintech landscape.

“The regulatory landscape in Nigeria is evolving in a good way especially to the extent that we have hundreds of fintechs that are driving some of the mandates of the CBN today. At Moniepoint, we are very passionate about powering the dreams of millions of business owners and the individuals that they support and we have seen that financial inclusion has grown and thrived on the strength of existing regulation. We understand the imperative of using regulation as the lynchpin for driving stability in the nation’s economy at large, as well as the need to deepen consumer protection by building systems that will increase the public and regulator’s trust in the services that we as fintechs provide. Thankfully, there are channels in place that facilitate information exchange between the regulators and the players, and this has helped us a great deal,” Abadi noted.

Abadi also took the opportunity to showcase Moniepoint’s significant contributions to advancing the government’s socio-economic agenda, as evidenced by the launch of a definitive report around the informal economy, partnerships with the CAC, SMEDAN and Federal Ministry of Industry, Trade and Investment whilst underscoring the potential of fintech solutions to drive positive change in Nigeria’s financial services landscape.

The discussants also called on the need to have targeted guidelines that cater to the nuances and peculiarities of the fintechs and other innovative players, as against the current practice where majority of the rules in place are the same ones developed and applicable to the traditional financial institutions.

They maintained that regular and collaborative engagement between the fintechs and the regulators can fast track the formulation of regulatory guidelines that will be proactive and grow the industry.

The session which was moderated by Hakeem Olajide, CEO, Ascentree Services Ltd also had Ochanya Dan-Ugo, Director /Group Chief Risk Officer, Unified Payments and Seun Folorunso, AGM Projects & Relationships, FintechNGR as co-panelists .

The two-day expo featured a diverse array of activities, including special presentations, masterclasses, product demonstrations, exhibitions, and pitch sessions.

These events provided attendees with valuable insights into the latest trends and developments in the information and communication technology sector. Special guests at the event included President, Lagos Chamber Of Commerce and Industry Mr. Gabriel Idahosa, FCA; Engr Leye Kupoluyi, Deputy President, LCCI; VP and Chairperson, Trade Promotion Board , Abimbola Olashore and Director-General, Chinyere Almona.

The ICTEL Expo, now in its tenth year, continues to serve as a crucial platform for industry stakeholders to exchange ideas, showcase innovations, and discuss the challenges and opportunities facing the ICT and fintech sectors in Nigeria.

As the fintech industry continues to evolve rapidly, the insights shared at this event underscore the importance of ongoing dialogue between innovators, regulators, and other stakeholders to ensure a thriving and responsible fintech ecosystem in Nigeria.

The world’s leading financial publication confirmed Moniepoint Inc’s accolade in its annual “Africa’s Fastest Growing Companies” survey, released today.

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 a rigorous screening process.

In this survey, companies are ranked based on 2019-2022 data by their absolute growth rate of revenues and 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.

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

The holding group also doubled its global headcount, growing to over 1,800 employees by the end of 2023.

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.

Commenting on the FT’s ranking, Tosin Eniolorunda, Group CEO of Moniepoint Inc., 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. 

“2023 was a pivotal year for Moniepoint. Moniepoint has moved from being an agency-dominated institution to becoming merchant-dominated as we have seen a lot more people embrace more digital payment solutions. It is humbling to see that we have become a household name that people have come to know and trust, the bellwether for reliable transactions every time.   

With our foray into the personal banking market, we have been able to deliver seamless and reliable payment solutions for Nigerians especially those in underserved communities as we continue to supercharge access to financial services and contribute to economic growth and wealth creation.  2024 is set to be even more exciting with continued growth, driving compliance and innovation, as we maintain our leading role within the African fintech sector, driving financial inclusion across Africa.”

According to David Pilling, FT Africa Editor,

“The third year of our now expanded ranking of Africa’s Fastest Growing Companies comes against a background in which many economies are struggling to recover from the Covid pandemic. The FT-Statista list reveals the type of companies that, even in hard times, have managed to grow, often by disrupting markets…This year, our ranking has a wider geographical spread of companies than before. The big newcomer is Morocco, with 12 companies in the top 125 against just three last time. Mauritian-domiciled companies also did well with nine winners, against four in 2022. South Africa had 42 companies in the list, followed by Nigeria’s 25, while Kenya tied third at 12.”

Moniepoint Inc.’s technology powers over five million businesses and their customers, offering all the payment, banking, credit and business management tools they need to succeed.

Establishing itself as a market leader in Nigeria across various segments from commerce to health and hospitality amongst many others, Moniepoint’s transformational and positive strides has earned it local and international plaudits.

In 2023, for the second year running, Moniepoint Inc was named amongst the 100 most promising private fintech companies by CB Insights. Moniepoint MFB received the Rising Star Family Business Award at the Pwc/Businessday Family Business Summit; while bagging the Fintech Company of the Year award at the 16th edition of Leadership Newspapers Conference and Awards.

Industry analysts have averred that as a strongly embedded and systemic institution in the digital payment services segment, with an eye on the future, Moniepoint Inc is poised to continue to deliver innovative solutions that promote inclusivity, drive sustainability and create new vistas in the markets where they operate.

This recognition underscores Moniepoint’s commitment to empowering businesses within the hospitality industry through innovative financial solutions.

As a major artery in Nigeria’s booming hospitality sector, Moniepoint provides a range of digital financial services that streamline financial operations, improve guest experiences with digital payment and contribute to the overall growth and sustainability of the industry.

The tourism and hospitality sector in Nigeria holds significant economic importance as it contributes in part to the country’s GDP and stimulates economic growth via improved revenue generation, attracting FDIs, job creation, cultural preservation and sustainable development.

It will be recalled that consulting giants, PWC had forecast that Nigeria will experience a robust growth of 12% in Nigeria’s hospitality industry.

Speaking on the rationale for Moniepoint’s award, Chibuikem Diala, executive director, IHTEF, noted that Moniepoint has become a symbol of innovation, dedication and a testament to the resilience, expertise, partnership that is inherent in developing homegrown brands for the good of the hospitality sector in Nigeria.

“Moniepoint has been chosen by industry leaders because of its innovative contributions towards seamless financial transactions in the hospitality industry. It is worthy of note that Moniepoint as a financial technology brand with inventive solutions have helped to revolutionize financial services in hotels, restaurants, lounges, etc, and for small businesses especially those within the hospitality, fast foods, travel and tourism ecosystem in Nigeria who now experience very minimal processor failure disputes, considerably reduced downtime and track-able transactions, thereby providing effective tools to run hospitality businesses with ease, uncommon simplicity, security and profitability,” he said.

Commenting on the award, Babatunde Olofin, Moniepoint MFB’s Managing Director, expressed delight while noting that:

“We are honored to receive this award from HIESA which is an eloquent testimonial to the collaborative work that we do at Moniepoint. We believe that a thriving hospitality industry is essential for Nigeria and we remain committed to fostering a thriving ecosystem through continued innovation. Our customers remain at the centre of our universe and we’ll continue to ensure that we power their dreams in more ways so that they can experience financial happiness.”

The HIESA is a highly respected award program that acknowledges the exceptional efforts of organizations and individuals propelling the hospitality and tourism sector forward.

By recognizing excellence in areas like leadership, innovation, and service quality, HIESA paves the way for a more robust and sustainable industry.

The awards ceremony was organized as part of the 7th edition of International Hospitality Tourism and Eco-Sustainability Forum (IHTEF) held at the Ladi Kwali Hall, Abuja Continental Hotel on April 25th, 2024.

The IHTEF is a hospitality focused intellectual marketplace, a ‘platform of minds’ that brings together thought leaders, influential government figures, project developers, hotel managers, visionaries, investors, hotel owners, consumers and sustainability enthusiasts.

With the theme, “Emerge Together; Reimagining a Green Hospitality Economy”, the forum examined how hospitality businesses should conduct themselves in the light of the emerging green economy while x-raying the intersections between hospitality circular economy, effective resource maximization, and quality skills and standards needed for a new hospitality economy.

Some of the guests at the ceremony included the Honourable Minister for Tourism, Mrs Lola Ade-John (Special Guest of Honour), other industry leaders include IHTEF Africa’s conference advisor, Mr Trevor Ward of W Hospitality Group, Turkey, Director Lodging & Development, Marriott West Africa; Mr Adedayo Adesugba, Vice Chair, Association of Tourism and Hospitality Consultants of Nigeria (ATHCON); Mrs. Oluwasoromidayo George, Director Corporate Affair & Sustainable Business, Nigeria Bottling Company  Mr Ekene Nnabuihe, CEO Boulevard Hotel Group; Dewald Kruger, The Envoy Abuja; Mrs Kehinde Daniel, Kots Catering; Ms Idy Ekwo, Hospitality Connect, Worldwide; Alain Salameh, General Manager, Hawthorn Suites by Wyndham; and Toni Cheikwafah of Beer Barn.

In recognition of the bank’s strategic importance to Nigeria’s financial services sector, Moniepoint MFB has received several accolades including the prestigious Rising Star Family Business Award Pwc/Businessday Family Business Summit; Fintech Company of the Year award at the 16th edition of Leadership Newspapers Conference and Awards, the Most Outstanding Microfinance Bank in Consumer Engagement at the Brandcom Awards, NITDA’s Digital Nigeria 2023 winner for the Fintech Category.

Moniepoint Inc was listed for the second year running amongst the 100 most promising private fintech companies by CB Insights and the reputable Financial Times named it Africa’s second fastest-growing company.

Moniepoint Inc also received critical acclaim as the “Most Outstanding Fintech Company in Financial Inclusion at the Brandcom Awards.

Tosin Eniolorunda, Group CEO, Moniepoint Inc,  was named the 2024 Legit Business Leaders Awards in recognition of his outstanding contributions to Nigeria’s economy.

Moniepoint’s win at the 2024 HIESA signifies its unwavering commitment to playing a vital role in the Nigerian hospitality industry’s success story.

The company looks forward to building on its achievements and amplifying its positive impact in the years to come.

Key points

• Moniepoint card and app available to 33 million terminal users across Nigeria;
• Uses Moniepoint’s reliable infrastructure to guarantee successful transactions;
• Easy-to-use dispute system for failed transactions – gives Nigerians control for first time;
• Merchants benefit when consumers use Moniepoint via faster payments, easy dispute resolution processes, and cashback on transactions;
• Cards issued by Mastercard and Verve, amongst others;
• App allows users to make transfers, pay bills and buy airtime + debit cards can be used at ATMs, POS terminals, and online; and
• Follows Moniepoint’s sponsorship of BB Naija Season 8.

Moniepoint Microfinance Bank, the leading business banking platform in Nigeria has disclosed its entry into the personal banking market with the launch of a consumer app and debit card.

Moniepoint Inc., through one of its subsidiaries in Nigeria, leads the in-person payments market and with this personal banking solution, Moniepoint Microfinance Bank, another subsidiary of Moniepoint Inc., will be extending its reliable banking infrastructure from the businesses it serves to their customers and employees.

Millions of people will enjoy seamless and reliable payments with Moniepoint Microfinance Bank debit cards, at the over 1.5 million businesses who currently use its platform. These debit cards will be issued through global payment processors, including Mastercard and Verve.

The app will enable users to make transfers, pay bills and buy airtime, while its debit cards can be used at ATMs, POS terminals, and online. Merchants will also benefit from seamless transactions when customers use Moniepoint cards.

The Moniepoint Microfinance Bank team’s expertise in building banking solutions is evident in its personal banking app with the introduction of a new card dispute resolution system. This system will enable users to log disputes for failed card transactions, and track them till they get a full reversal, thus giving Nigerians control over dispute resolution for the first time.

Aligning with its sponsorship of this year’s season of Big Brother Naija, the app will also feature various games. These games will see users earn points with each transaction and compete in pursuit of grand prizes of millions of Naira each week.

Ope Adeyemi, SVP for Channels and Sales Tools at Moniepoint, said:

“Launching a personal banking product means we can connect businesses and their customers more effectively, backing them with our reliable infrastructure and services. We have always been committed to providing financial happiness, so it was a natural next step when dealing with so many businesses, to also offer our reliable services to their customers and employees. By taking this step, we are determined to power the dreams of millions of people across the continent.”

Other services such as salary advances, will be rolled out in the coming months.

The launch of Moniepoint Microfinance Bank’s personal banking product follows its strong performance in the business banking market. Its parent company, Moniepoint Inc.  was ranked by the Financial Times as Africa’s second-fastest growing company (and fastest-growing fintech) in its annual “Africa’s Fastest Growing Companies” survey.