Moniepoint MFB highlights three pillars for technology to drive development

Moniepoint Microfinance Bank Limited has identified three critical pillars, such as trust, talent, and literacy, as essential for technology to effectively drive development.

The bank emphasised its continued investment in these areas, reaffirming its commitment to financial inclusion as the foundation of its operations. It noted that its mission extends beyond gaining market share to transforming lives across Nigeria and Africa.

Speaking at the 2025 annual conference of Finance Correspondent Association of Nigeria (FICAN) in Lagos on Saturday, Babatunde Olofin, Chief executive, told a story that captured both the fragility and resilience of the Nigerian dream.

The theme of this year’s conference ‘Bracing for the Digital Economy in Nigeria: Taxation, Banking and Finance,’ brought together experts and stakeholders across the key finance sector of Africa’s largest economy, among whom was Moniepoint boss.

Olofin who was represented by Bemigho Awala, head, Corporate Communications, recounted the journey of a certain Iyaruka, a mother of four who relocated to Lagos after losing her homes in Abuja.

Starting out as a petty trader, she was onboarded onto Moniepoint’s payment platform two years ago, later gaining access to credit. Today, she runs three thriving stores and records daily revenues that once seemed impossible.
“That is the power of access. That is the meaning of inclusion,” the CEO declared. “Financial services should mean only one thing: progress.”

According to him Moniepoint’s new campaign, “We’re Made for Your Progress,” reflects its broader mission to power the dreams of Africans by using technology to provide speed, trust, and simplicity in financial transactions.
He stressed that the digital economy is not a distant prospect but a lived reality, underpinned by tools such as mobile connectivity, cloud computing, and artificial intelligence. Yet, for technology to truly catalyse development, three pillars must be prioritised: trust, talent, and literacy.

Moniepoint, he noted, is investing heavily in these areas. Its “Dream Developments” incubator trains young Nigerians to build financial solutions, while the company also champions financial literacy as a safeguard against exclusion and misinformation. “Without knowledge,” he warned, “we are building on sand.”

Beyond banking transactions, Moniepoint is extending its solutions into areas such as inventory management for small retailers, enabling mom-and-pop shops to track stock and improve profitability. The bank is also documenting local case studies to better understand regional economies, including livestock and crop markets in Northern Nigeria.

The CEO emphasised that Africa’s financial future will not be scripted in Silicon Valley but determined by homegrown solutions, regulatory oversight, and informed journalism.

“At Moniepoint, we are not just interested in growing the market. We are committed to transformation. Everyone can bank on technology as a force for good,” he concluded.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.