SAN FRANCISCO (dpa-AFX) - Moniepoint Inc., a Nigerian business payments and banking platform, has secured an investment from Visa Inc. (V), a global digital payments leader. This partnership highlights Visa's commitment to financial inclusion, digital payment innovation, and supporting SME growth in Africa.
This investment enables Visa to support Moniepoint's mission to empower African businesses, driving its growth and expansion across the continent. Moniepoint's scalable and profitable business model, combined with its strong operational and financial performance, has established it as a transformative force in Africa's fintech ecosystem.
Africa's fintech industry is experiencing rapid growth, fueled by a vibrant ecosystem and efforts to address the financial inclusion gap. Visa has played a pivotal role in this transformation, using its expertise and resources to support the expansion of fintech startups across the continent.
The partnership brings together Moniepoint's local expertise and innovative business model with Visa's global resources and capabilities. Together, they aim to accelerate the digital transformation of African SMEs, promoting financial inclusion and fostering long-term economic growth.
V is currently trading at $327.76 or 1.30% higher on the New York Stock Exchange.
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