Telecom
Foreign Affairs Minister Amb. Tuggar Lauds Moniepoint as a Nigerian Fintech Success Story

In a move that bolsters investor confidence in Nigeria’s burgeoning fintech sector, the Honourable Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, visited the UK offices of Moniepoint Inc., a leading Nigerian financial institution, during his high-level working visit to the United Kingdom.

The visit, aimed at strengthening diplomatic ties and fostering strategic cooperation between Nigeria and the UK, underscored Nigeria’s commitment to driving economic growth and innovation. Ambassador Tuggar’s focus on Moniepoint highlighted the company’s remarkable journey and its pivotal role in Nigeria’s financial landscape.
During his tour, Ambassador Tuggar lauded Moniepoint as a “true Nigerian success story,” emphasizing its status as a “fintech unicorn with a multibillion-dollar valuation.” He highlighted the company’s impressive growth, citing its 2000+ employees, thousands of sales personnel, and its empowerment of millions of businesses through enhanced financial inclusion.
“Nigeria is at a vantage position in the fintech and financial services sector,” Ambassador Tuggar stated. “With banks and fintechs operating across Africa, we must continue to instill confidence in Nigerian businesses as they expand globally. Moniepoint is a testament to the strength of Nigeria’s fintech ecosystem.”
The Minister acknowledged the significant backing Moniepoint has received from global investors, including Google’s Africa Investment Fund, Visa, and BII, further validating its position as a leader in the fintech space. He stressed that a thriving fintech sector directly translates to more jobs, increased financial inclusion, and a stronger economy for Nigeria.
In his welcome remarks, CEO Moniepoint Inc. Tosin Eniolorunda reiterated Moniepoint’s commitment to powering the dreams of millions of business owners while engineering financial happiness for all Africans. He noted that the dynamic digital landscape in Nigeria presents unique opportunities to harness technology to drive real change, and Moniepoint is excited to be at the forefront of this transformation.
“By empowering individuals and businesses with financial tools that are innovative and efficient, we believe that technology can be a powerful catalyst for economic growth and social development. This visit by His Excellency Ambassador Yusuf Maitama Tuggar signposts the importance of cross-border collaboration and the strengthening of Nigeria’s global partnerships. We recognize the critical role that international cooperation plays in advancing innovation, especially within the fintech sector. As a country, Nigeria has immense potential, and through strategic alliances with global stakeholders, we can unlock new opportunities that benefit both local and international communities,” Eniolorunda stated.
Continuing, he said, “At Moniepoint, we are deeply aligned with the Nigerian government’s vision to enhance strategic cooperation in areas like trade, investment, and technology. We are eager to continue contributing to the development of our country’s digital economy while fostering meaningful collaborations that will leave a lasting legacy for generations to come.”
Moniepoint’s market leadership has been acknowledged by several industry watchers and analysts. As the country’s largest merchant acquirer, it powers the majority of Point of Sale (POS) transactions, processing over 1 billion transactions monthly with a total payments volume exceeding $22 billion. This enables countless small and medium-sized enterprises (SMEs), particularly those in the informal sector, to digitize their operations and participate in the evolving African economy.
Moniepoint executives at the event include Felix Ike, Co-Founder and Chief Technology Officer, Moniepoint Inc; Didi Uwemakpan, Vice President, Corporate Affairs, Moniepoint Inc; Ross Strike, Senior Vice President, M&A & Investor Relations; Ravi Jakhodia, CEO, Moniepoint UK; Bayo Olujobi, Chief Financial Officer, Moniepoint MFB.
Important dignitaries who accompanied the Foreign Minister on his visit to Moniepoint’s UK office include Dotun Olowoporoku, Managing Partner, Starta; Gbenga Ajayi, Partner and Head of Africa, QED Investors and other senior officials from the Nigeria High Commission in London and Foreign Affairs Ministry. It would be noted that this visit reinforces the message that Nigerian companies are not only capable of achieving significant domestic success but also of expanding their footprint internationally, contributing to the nation’s economic development and global reputation.
Formerly known as TeamApt Inc., Moniepoint, founded in Lagos in 2015 by Tosin Eniolorunda and Felix Ike, has rapidly grown into a comprehensive digital financial services provider. Offering payments, banking, credit, business management tools, and cross-border payment solutions, Moniepoint serves over 10 million businesses and individuals across Nigeria and Africa.
Moniepoint Inc has been recognized as Africa’s fastest-growing fintech in 2023 and 2024 by the Financial Times of London. It has also won the National Inclusive Payment Initiative Award and Financially Inclusive Fintech of the Year from the Central Bank of Nigeria as well as SME Microfinance Bank of the Year at the BusinessDay Banks & Other Financial Institutions BAFI Awards to mention a few.
Telecom
FG Approves GIS-enabled Digital Postcode to Tackle Logistics Gaps, Boost E-commerce

Federal Executive Council has approved the rollout of a nationwide alphanumeric digital postcode system, a move believe will modernise the country’s addressing framework and support growth in logistics, e-commerce and emergency services.

The approval, granted under president Bola Ahmed Tinubu, paves the way for the introduction of a Geographic Information System (GIS)-enabled postcode platform designed to provide more accurate and standardised location data across Africa’s most populous nation.
Bosun Tijani, the federal minister of Communications and Digital Economy of Nigeria, who disclosed this via X, said the reform, developed in collaboration with Nigerian Postal Service (NIPOST), would replace inconsistent and often manually described addresses with a structured alphanumeric format tied to geospatial coordinates.
Nigeria’s current addressing system has long posed challenges for postal deliveries, emergency response teams and e-commerce operators, particularly in densely populated urban areas and rapidly expanding peri-urban communities where street naming and house numbering remain irregular.
The new system is expected to improve the precision of mail and parcel sorting, reduce failed deliveries and shorten turnaround times for logistics firms serving a fast-growing online retail market.
Tijani affirmed that the digital postcode framework would extend beyond postal operations, describing it as a foundational layer for national planning and public service delivery. By embedding geographic intelligence into address identification, authorities expect better data integration across agencies responsible for health, security, taxation and urban development.
The reform aligns with Nigeria’s broader digital economy strategy, which aims to build core infrastructure to support fintech, e-commerce and government digitisation efforts.
Industry executives have repeatedly cited weak address verification systems as a bottleneck for expanding nationwide logistics coverage, particularly outside major commercial hubs such as Lagos and Abuja.
Under the new framework, each location will be assigned a unique alphanumeric code linked to geospatial data, allowing for machine-readable sorting and integration into mapping systems. Authorities say this will enable faster emergency response deployment and more efficient route planning for both public and private sector operators.
The government did not provide a timeline for full nationwide deployment but indicated that implementation would proceed in partnership with NIPOST and other relevant agencies.
Officials described the approval as part of efforts to create an enabling environment for a modern and inclusive digital economy, positioning accurate addressing as critical infrastructure in the same category as broadband connectivity and data centres.
For businesses and consumers alike, the shift could mark a structural change in how goods, services and public resources are delivered across the country.
Telecom
GSMA, African Operators, Others to Launch Low-cost 4G Devices

A co-ordinated effort between the GSM Association (GSMA), six African operators and original equipment manufacturers (OEMs) will pilot $40 (R654) entry-level 4G smartphones in six African nations this year.

This, as 710 million of Africa’s population live close to a 4G broadband signal, but have never gone online, with a further 68% not owning a device.
On the continent, entry-level smartphones cost 26% of the average person’s income. For the poorest 40%, the cost jumps to 64% of their income, and for the next 20%, the cost reaches 87%, data from the GSMA has shown.
To address the cost-prohibitive hurdles, the industry body has been a strong advocate of bringing down the cost of devices. It believes that affordable 4G smartphones at scale could bring tens of millions of people online, unlocking access to education, healthcare, financial services, e-commerce and artificial intelligence (AI)-powered tools.
Angela Wamola, head of GSMA Africa, said that the pilots will launch in six countries: DRC, Ethiopia, Nigeria, Uganda, Tanzania and Rwanda.
She added that the pilots build on the minimum specifications for low-cost 4G devices unveiled at MWC Kigali in 2025 and represent a step forward in turning industry alignment into tangible, on-the-ground impact.
The specifications focus on screen size, battery life and storage for a meaningful device that creates utility, particularly in the age of AI, Wamola added.
“Affordability and access of the device is critical for us to resolve. At the same time, getting a device is also about a willingness to purchase, which is about utility. Creating utility relevant to people’s lives, be it in manufacturing, agriculture, information, health and education, etc. It’s about bringing that content and government services online.
“The cherry on top is about local languages. People want to consume relevant content, but it must be in their local language.”
“As the devices land in the hands of the people, the languages will be readily available. Our small, medium-sized entrepreneurs, developers, innovators can begin to create content and products for our population. This is the magic that needs to happen to close the usage gap in the shortest time possible.”
The announcement, made in Barcelona, moves a step further from MWC Kigali by solidifying the vendors and operators that responded to the minimum specifications for the $40 device call, according to Wamola.
The marketplace now consists of private sector operators, as well as original equipment manufacturers that are engaging the six countries where the pilots will take place, she stated.
“At the same time, the GSMA is working with the governments of those nations to understand what fiscal policy incentives can be placed for these $40 entry-level devices, so that they land at the hands of the customer at the same price point.”
Wamola also indicated the coalition is taking a page out of the South African government’s book. It removed the 9% ad valorem tax, commonly referred to as luxury tax, on smartphones within the below-R2 500 price range.
Ad valorem duties are taxes levied on commodities as a certain percentage of their value. For smartphones, the duties are charged at a flat rate of 9%, classifying them as luxury goods.
In May, National Treasury confirmed the luxury tax on entry-level smartphones had been removed.
The GSMA saw how the market responded to adopting those devices when the government of South Africa removed the 9% luxury tax, she stated. “For us, it’s about replicating those lessons across Africa, so that governments can also adopt those.”
Vivek Badrinath, director-general of the GSMA, added: “Affordable smartphones are the gateway to digital and financial inclusion, economic opportunity and innovation; 3.1 billion people have mobile coverage but are not connected to the mobile internet.
“Together with the G6 group of leading African operators, we are sending a clear demand signal to bring low-cost 4G devices to market. In a global context of rising memory costs, governments have an important role in bridging the usage gap. Removing taxes and import duties on entry-level 4G smartphones will be critical to achieving scale.”
Telecom
TD Africa, Cisco and Arravo Host C-Level Event on Secure Networking

The future of secure and intelligent networking took centre stage over the weekend, as leading technology distributor, TD Africa, in collaboration with Cisco and Arravo Technology, hosted an exclusive C-level customer engagement focused on strengthening enterprise security and building resilient network infrastructures.

TD Africa
The event brought together senior decision-makers from various organisations to explore how businesses can drive resilience and digital transformation through Cisco’s Enterprise Networking, Meraki, and Security solutions.
The session provided practical insights tailored to the evolving needs of today’s digital enterprises, with discussions centred on enabling smarter, scalable network environments while strengthening cybersecurity frameworks.
Speaking at the event, Abiodun Idowu, Head of Enterprise Business at TD Africa, highlighted the growing need for organisations to adopt integrated networking and security strategies in an increasingly complex digital landscape.
“As businesses accelerate their digital transformation journeys, the need for secure, intelligent, and scalable networking solutions has never been greater.
“Through our collaboration with Cisco and Arravo, we are empowering organisations with the tools and insights required to build resilient infrastructures that support innovation while safeguarding critical operations,” he said.
The session also featured an in-depth technical presentation by Theodore Chukwudi, Cisco Solutions Architect, who led discussions on Cisco Meraki’s Cloud-Managed Networking and its role in simplifying network management while enhancing visibility and security.
“Cisco Meraki enables organisations to deploy and manage networks with greater agility and confidence. By leveraging cloud-managed solutions, businesses can enhance operational efficiency, improve security posture, and respond more effectively to emerging threats,” Chukwudi noted.
Offering further insight, Ayantola Olaayan, Director, Enterprise Business at Arravo, emphasised the importance of collaboration in helping organisations navigate modern networking demands. “Strategic partnerships like this enable us to deliver solutions that are both innovative and practical.
“By combining Arravo’s enterprise expertise with Cisco’s technology and TD Africa’s distribution strength, we are helping businesses simplify complexity and build secure, future-ready networks that support long-term growth,” he noted.
Participants gained valuable perspectives on how Cisco’s enterprise networking and security technologies can help mitigate risks, protect digital assets, and support business continuity in an increasingly connected environment.
TD Africa’s collaboration with Cisco and Arravo on this engagement reinforces its commitment to equipping organisations with the knowledge and solutions needed to navigate modern networking challenges and unlock new opportunities for growth.
Telecom3 days agoSunil Bharti Mittal Conferred GSMA Lifetime Achievement Award for Transforming Global Telecommunications
Telecom3 days agoWhy Digital Trust Matters: Secure, Responsible AI for African SMEs?
General News3 days agoKrishnan Exits Africa Data Centre to Embark on Professional Chapter
E-Business3 days agoJumia Tech Week 2026 Begins with Tech Deals on Smartphones, Electronics, and Everyday Technology
E-Financial2 days agoNRS Targets N40trillion in Tax, Royalty Revenue in 2026
Telecom3 days agoHouse Probes Fintech Regulation via Public Hearing on New Commission Bill
Broadcasting3 days agoNCAA Orders Overland Airways to Refund VAT Charged on 2025 Tickets
News3 days agoAfDB Supports Francophone Africa Start-ups with €6.5M
















