First-Time credit access is transforming african businesses - Moniepoint report. Moniepoint Inc., the financial technology company powering payments and banking for millions across Africa, has released its first-ever Impact Report and the report reveals that access to credit is opening doors for business owners who had never received a formal loan before. The report, titled "Creating Financial Happiness," shows that the company now serves over 20 million people and businesses across the continent, processing more than $250 billion in transactions each year. What started as a financial infrastructure provider has grown into a full-service platform offering banking, payments, credit, and business management tools. Perhaps the most striking finding in the report centres on access to credit. In 2025 alone, Moniepoint handed out more than $700 million in loans to small and medium-sized businesses. For three out of every four business owners who received these loans, it was the first time their enterprise had ever accessed formal credit. The impact was clear, businesses that took Moniepoint loans saw their average transaction value jump by 36 percent, showing that when small businesses get funding, they grow. The company also made a strong push to support women entrepreneurs. Lending to female-owned businesses increased by over 300 percent in 2025. Women now make up 36 percent of Moniepoint's loan portfolio, significantly higher than the industry average of 15 to 25 percent. For nearly two-thirds of the women surveyed, the Moniepoint loan was their first-ever formal business financing. The report noted that women entrepreneurs are 2.5 times less likely to default on loans than their male counterparts, yet many remain locked out of traditional banking. Tosin Eniolorunda, Co-Founder and Group CEO of Moniepoint Inc., said the report shows how much untapped potential exists across Africa. "For so many of the entrepreneurs we lent to last year, ours was the first formal loan their business had ever received, a reminder of how much untapped potential exists across the continent. This potential is unlocked when access to credit is no longer a barrier," he said. Eniolorunda added that the company's goal remains unchanged from what it set out to achieve ten years ago: building the infrastructure needed to bring financial services to everyone. Beyond lending, the report highlights Moniepoint's investments in people and communities. The company runs training programmes such as Women in Tech and DreamDevs to create employment pathways in engineering. It also supports STEM education, financial literacy training, and programmes for underserved children, reaching tens of thousands of beneficiaries across Africa. Moniepoint which was named one of TIME's 100 Most Influential Companies in 2025 and has been consistently recognised by the Financial Times as one of Africa's Fastest-Growing Companies, now employs more than 3,300 people across 10 countries.

Rose Muturi joins Moniepoint to lead Kenya operations. Quick Links * News Former Branch Kenya CEO Rose Muturi joins Moniepoint to lead Kenya operations By Kenn Abuya 14th Jul, 2026 Get TC updates in your Newsfeed Share Moniepoint Inc has appointed Rose Muturi, former Branch Kenya CEO, as the chief executive for Kenya, as the Nigerian fintech unicorn bolsters its expansion strategy in East Africa following the acquisition of Sumac Microfinance Bank earlier in the year. The Nigerian fintech, in an emailed response on Tuesday, confirmed the appointment, stating that Muturi has been brought on board to oversee the company's strategic direction and not to manage its new local subsidiary. The appointment suggests that the unicorn is moving from securing a regulatory foothold in East Africa's biggest economy to building a banking business. The acquisition of Sumac gave the company the licence required to operate in the market, but expanding operations will require local banking expertise as competition intensifies among banks, fintechs, and mobile money platforms. "We can confirm that Rose Muturi has joined Moniepoint Inc. as CEO to lead our Kenya operations, driving the group's strategic direction in the country rather than managing a standalone subsidiary," Edidiong Uwemakpan, Moniepoint's vice president for corporate affairs, said in a statement. She added that Muturi is employed by Moniepoint Group, while Sumac Microfinance Bank "is a separate entity with its own leadership team." Muturi joined Moniepoint in June, according to her LinkedIn profile. Before joining Moniepoint, Muturi spent more than four years at Branch, rising from East Africa managing director to chief executive of Branch Kenya. During her tenure, Branch became a neobank after acquiring Century Microfinance Bank, using its licence to expand beyond digital lending into broader banking services. Muturi has also held senior leadership positions at HF Group, Tala, TransUnion Kenya, Chase Bank, and Standard Chartered Bank. She founded the Digital Lenders Association of Kenya and serves on the board of the Association of Microfinance Institutions Kenya. Expanding beyond payments While Moniepoint has disclosed a few details about its Kenyan strategy, its recent acquisitions suggest ambitions beyond payments. Sumac holds a deposit-taking microfinance banking licence, allowing it to mobilise deposits and extend credit. Combined with the appointment of an executive experienced in running a regulated digital bank, the acquisition gives Moniepoint both the regulatory infrastructure and local management needed as it expands beyond payments in Kenya. Shortly before completing the Sumac deal, the company also acquired restaurant software provider Orda, extending its push beyond payments into software, lending, and banking services for small businesses. In Nigeria, Moniepoint offers merchant payments, banking, credit, and business management tools through a single platform, a model it could replicate in Kenya. The company also appears to be building out its Kenyan team. Its careers page currently lists tens of open positions globally, including roles in Nairobi such as People Business Partner, Financial Planning Analyst, and Head of Product Control and Accounting, suggesting it is assembling the local leadership needed to support its expansion. "Moniepoint is building capacity in Kenya as it works to bolster its strategy in the market," Uwemakpan said. True scale demands moving beyond surface-level integrations to robust execution. We've filtered the noise out of Moonshot 2026, optimising the conference strictly for high-calibre connections between startup founders, global financial operators, enterprise leaders and individuals rewiring Africa's technical frameworks. Get 20% off Early Bird tickets for a limited time. More from this Author * Legislation Kenyan court holds banks, telcos liable over $34,000 SIM swap fraud * Newsletters The Next Wave: The million-dollar asset that no one can buy * Ecommerce Klump brings multi-bank instalment payments to Jumia's online checkout News Nigeria becomes Africa's highest-ranked country for Responsible AI Frank Eleanya | 5 days ago

University technology funding in Nigeria: the role of strategic IT consultants. Developing fundable technology projects. Last updated: July 13, 2026 1:57 pm Published: July 13, 2026 In May 2026, Moniepoint announced a ₦3 billion commitment to establish innovation hubs at Obafemi Awolowo University, Ahmadu Bello University and the University of Nigeria, Nsukka. The programme is intended to expand university-based technology training and produce hundreds of developers annually. Newly established universities in Nigeria often face serious funding and infrastructure challenges. They require computer laboratories, campus networks, internet connectivity, research facilities, digital libraries, innovation hubs, data centres, cybersecurity systems and modern learning platforms. Yet many depend almost entirely on government allocations and internally generated revenue. This dependence can slow institutional growth. - Advertisement - Several funding and support opportunities already exist through government intervention agencies, international oil companies, commercial banks, fintech firms, technology companies and corporate foundations. These organisations support education, research, innovation and digital development through grants, laboratories, scholarships, training centres, research funds, innovation hubs and technology infrastructure. The problem is that many new institutions are unaware of these opportunities. Others discover them after the beneficiaries have already been selected. This is why I believe every newly established university should engage a competent technology professional or consultant with a strong understanding of the funding landscape, institutional partnerships, research support, proposal development and corporate engagement. Such a professional can help the university identify suitable opportunities, interpret eligibility requirements, prepare compelling proposals and build the relationships needed to attract strategic interventions. TETFund provides intervention funding for public universities, polytechnics and colleges of education. Its support covers infrastructure, academic staff development, research, libraries, ICT facilities and institutional equipment. - Advertisement - The Nigerian Communications Commission has also supported tertiary institutions through research grants, digital learning facilities, virtual examination centres, wireless connectivity and telecommunications laboratories. NITDA supports digital literacy, innovation, technology training and digital economy initiatives. PTDF funds petroleum-related research, specialised laboratories, academic development, scholarships and centres of excellence. The Bank of Industry has also established technology and innovation hubs in selected Nigerian universities. Corporate organisations also provide significant support. Commercial banks have donated ICT laboratories, renovated educational facilities and funded digital skills programmes. Oil and gas companies have built laboratories, supported university research and provided scholarships. Technology and fintech companies have sponsored innovation hubs, developer training programmes, research centres and student entrepreneurship initiatives. However, many of these interventions are selective. Some organisations advertise open calls for applications. Others identify beneficiaries through internal corporate decisions, partnerships and direct engagement with university leadership. In such cases, only institutions that express interest, submit proposals, request meetings and maintain contact may be considered. This means that waiting for a public announcement may not be enough. University leadership must actively identify potential funders and communicate the institution's needs. It must show how a proposed intervention aligns with the funder's corporate social responsibility priorities, development objectives or sectoral mandate. A general request for support may not attract serious attention. A university should instead present a clearly defined project. Examples include a cybersecurity laboratory, artificial intelligence research centre, financial technology innovation hub, digital skills academy, renewable energy technology centre, software engineering laboratory, computer-based testing centre or telecommunications research facility. The proposal should explain the problem the project will solve. It should identify the number of students, staff and surrounding communities that will benefit. It should also present the project cost, implementation plan, sustainability arrangement and expected outcomes. The institution should state what it will contribute. This may include land, an existing building, power supply, internet connectivity, security, staffing and long-term maintenance. A technology consultant can coordinate this process. The consultant can monitor government agencies, banks, international oil companies, technology firms, fintech organisations and development partners. The consultant can identify their current areas of interest and determine where those interests align with the university's priorities. The consultant can also maintain a database of available opportunities. This should contain application deadlines, eligibility conditions, contact persons, funding areas, past beneficiaries and the status of submitted proposals. This type of funding intelligence can help the university respond quickly when opportunities emerge. Understanding eligibility is equally important. Some programmes support only public universities. Some require accredited programmes. Others support individual researchers, students or startups rather than the institution directly. Some fund buildings and equipment, while others provide training, technical assistance, software licences or research grants. Without professional guidance, an institution may pursue an unsuitable funder, prepare the wrong type of proposal or fail to meet basic requirements. A newly established university should also create a Research and Grants Support Office. The office can work with the technology consultant, academic departments and university management to identify research opportunities, form multidisciplinary teams, review proposals and manage funded projects. The consultant can also help the institution build partnerships with established universities, research institutes and private sector organisations. Such partnerships can strengthen applications and improve the university's chances of securing competitive funding. Technology support should therefore be treated as a strategic institutional function. A competent technology professional or consultant can help a young university secure opportunities that may take several years to fund from its regular budget. A single successful intervention can provide hundreds of computers, establish a research centre, train lecturers, support student innovation or connect an entire campus. Newly established universities must not remain invisible while older institutions continue to attract available opportunities. Funding and support exist, but access is rarely automatic. Institutions must search, prepare, engage and follow up. Hiring a technology professional or consultant with an ear on the ground gives a university the capacity to identify opportunities early, approach the right organisations and convert its development needs into fundable projects. Destiny Young is a technology professional, digital transformation specialist and cybersecurity researcher with extensive experience in enterprise IT infrastructure, institutional technology development, business resilience, and public sector digital communication. akwaibomtimes AkwaIbomTimes is a digital news platform committed to delivering timely, accurate and reader-focused reports on politics, governance, business, technology, lifestyle and community affairs. It serves readers in Akwa Ibom, across Nigeria and beyond with clear, factual and relevant journalism.