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Moniepoint MFB emerges SME Microfinance Bank of the Year at BAFI 2026. ...Shows dominance with other two awards By Staff Writer Moniepoint Microfinance Bank (MFB) has been named SME Microfinance Bank of the Year for the third consecutive year at the 14th BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Tosin Eniolorunda, Co-founder and Group CEO of Moniepoint Inc., also won SME Finance Transformation Leader of the Year at the ceremony. The awards follow a year of scale for the bank. According to Moniepoint's 2025 Year in Review, its microfinance bank disbursed over ₦1 trillion in credit to thousands of small businesses, whose transaction value grew by more than 36 per cent on average after they accessed credit. Moniepoint uses alternative data such as transaction histories, business patterns and payment behaviour to assess creditworthiness. Moniepoint also reports that Moniepoint MFB serves over 6 million active businesses and powers eight in every 10 in-person payments in Nigeria as the country's largest merchant acquirer. The leading microfinance bank processed ₦412 trillion in transaction value across more than 14 billion transactions in 2025. Ezekiel Sanni, senior vice president, Distribution Network Sales at Moniepoint, who represented the Co-Founder/Group CEO at the event, said the recognition reinforces the bank's commitment to the small business segment. "We are honoured to be named SME Microfinance Bank of the Year by BusinessDay. Small businesses are the backbone of the Nigerian economy, and this award strengthens our commitment to give them the credit, payments and tools they need to scale. We will keep expanding access to credit and investing in the network that serves them, so that more businesses across the country can build with confidence," Sanni said. Sanni also spoke on the recognition for Tosin Eniolorunda, the company's Group CEO. "The SME Finance Transformation Leader award recognises the direction Tosin Eniolorunda has set for Moniepoint, which is to make quality financial services available to small businesses, which points to where the business is headed. We are working towards a financial system in which every small business, in every part of the country, can access the services it needs to grow," he said. The BAFI recognition adds to other honours Moniepoint Microfinance Bank has received, including Best Financial Institution in Women Empowerment from the Association of Professional Women Bankers and Marketing Campaign of the Year (Brand) at the Creative Impact Institute Awards. Moniepoint MFB was also recently honoured for Innovative Digital Financial Solutions for Women at the Presidential Committee on Economic and Financial Inclusion (PreCEFI) She's Included Conference, solidifying its position as a market leader in providing financial services for millions of Nigerian MSMEs. Read Economics Organised by BusinessDay, the BAFI Awards honour institutions whose performance, innovation and leadership contribute to the development of Nigeria's financial system. The 2026 edition presented 67 awards across payments, lending, investment management, capital markets, insurance, pensions and trusteeship.

Moniepoint bags FiBOP Financial Inclusion and Digital Payment Company of the Year Award. Moniepoint, a leading Nigerian financial technology company, has received the Financial Inclusion and Digital Payment Company of the Year Award from the Finance and Business Online Publishers Association (FiBOP) in recognition of its contributions to digital payment innovation and financial inclusion in Nigeria. The award acknowledges the company's role in expanding access to financial services, supporting small and medium-sized enterprises (SMEs) and providing technology-driven payment solutions that enable businesses and individuals to conduct transactions seamlessly. FiBOP said the recognition reflects Moniepoint's contribution to advancing financial inclusion through innovative digital payment infrastructure and services that help individuals and businesses access essential financial solutions. The association also highlighted the company's role in empowering SMEs, which remain critical to Nigeria's economic growth, employment generation and business development. Moniepoint provides a range of financial technology services, including digital payments, banking services, credit facilities and business management tools designed to meet the needs of individuals and enterprises. Invited guests and some members of FiBOP in a group photo at the 2026 FiBOP conference and Awards in Lagos. Through its payment infrastructure and merchant services, the company supports millions of customers and businesses, helping merchants receive payments, manage transactions and improve their business operations. Its technology-driven approach has positioned it as a significant player in Nigeria's evolving digital payments ecosystem, where electronic transactions are increasingly important to commerce and the delivery of financial services. The award presentation citation described Moniepoint's recognition as a testament to its efforts in expanding financial access, driving digital payment innovation and strengthening the capacity of small and medium-sized businesses across the country. FiBOP's recognition also underscores the importance of financial technology companies in promoting a more accessible and efficient financial system, particularly for businesses and individuals who require convenient alternatives to traditional banking services. FiBOP Award recipients displaying their trophies at the 2026 FiBOP conference and Awards in Lagos. The association said the award celebrates Moniepoint's contribution to building a more inclusive digital financial ecosystem and supporting the growth of businesses through accessible financial solutions.

Turaco promotes Todwell to Africa commercial Chief as expansion gathers pace. Turaco has promoted Cedrick Todwell to Chief Commercial Officer, Africa, as the microinsurance company steps up expansion across the continent and Asia. Todwell, who joined the company in 2024, took up the new role on October 1 and will oversee commercial strategy, revenue growth, partnerships and market expansion across Africa. His promotion comes as Turaco says it has reached more than eight million people through partnerships with banks, microfinance institutions, fintechs, telecommunications companies and other distributors. The company operates in Kenya, Uganda, Nigeria, Ghana, Zambia and Tanzania, with expansion opportunities in Rwanda. It entered Pakistan in 2026 as part of its move into Asia. Turaco is also seeking to strengthen its position as an insurer, with licensed operations in Kenya and Uganda and a microinsurance underwriting licence in Nigeria. It plans to launch in two additional African underwriting markets by the end of this year, subject to regulatory approvals. Todwell has been involved in the company's commercial growth in East Africa, working with country teams and partners to expand distribution and revenue. In his new role, he will focus on growing market share, strengthening partnerships and developing new business opportunities across the continent. Turaco's growth has been driven largely by partnerships with firms including M-KOPA, Absa, ASA International, VisionFund, Opportunity Bank, Advans, Safaricom, Airtel, dfcu Bank, Moniepoint and One Acre Fund. The partnerships allow the company to distribute insurance through financial and digital services already used by customers, targeting consumers who have traditionally had limited access to insurance. The company is also using artificial intelligence in areas including customer onboarding, engagement and claims processing as it seeks to reduce the time and cost involved in delivering insurance services. Turaco co-founder and CEO Ted Pantone said Todwell's promotion would help the company accelerate growth while strengthening its operations in existing and new markets. "Cedrick's promotion reflects both the significant contribution he has made to Turaco's commercial growth over the past two years and our ambition for the next phase of the business," Pantone said. Todwell said his focus would be on strengthening existing operations, expanding across Africa and building partnerships that create long-term value. Turaco won Innovation of the Year at the African Insurance Awards organised by Africa Re in June. It was also ranked 29th among Africa's fastest-growing companies in the Financial Times' 2026 ranking and second among Kenyan companies. Founded in 2018, Turaco provides life, health and asset insurance through embedded partnerships with financial institutions, fintech companies and telecommunications providers. The company says its long-term goal is to insure one billion people globally.