Moniepoint scores a strategic investment from Visa

Famous Finteck bank Moniepoint scores a strategic investment from Visa – African2nice Tv Finteck reporters, has it that Moniepoint scores a strategic investment from Visa.

Less than three months after locking in a massive $110 million Series C round, Nigerian fintech Moniepoint is making headlines again. This time, they’ve scored a strategic investment from Visa!

While they didn’t spill the exact amount, word on the street is that Visa threw in over $10 million. And apparently, Moniepoint’s still chatting with other investors to raise even more funds.

Moniepoint’s CEO, Tosin Eniolorunda, is pumped about the partnership. “Visa’s backing is a big nod to our mission to digitise and empower African businesses. Together, we’ll help SMEs thrive in this fast-moving digital economy,” he said.

Visa’s move into Moniepoint isn’t just random — it’s part of a bigger plan to deepen its footprint in Africa. Visa already has a strong presence here through its card services but has been going all in on fintechs lately. They’ve been running the Visa Africa Fintech Accelerator, which has already worked with over 40 startups, including OkHi, Workpay, and Bumpa. Plus, they’ve invested in big names like Paystack, Flutterwave, and Interswitch.

Moniepoint’s numbers are wild — over a billion transactions monthly, totalling $22 billion! With Visa now on board, they’re working on expanding contactless payment options, something the Central Bank of Nigeria approved in draft guidelines last year. Oh, and Visa’s also joining Moniepoint’s board, so you know this partnership is serious.

Read Also: Biography of Anyidons: Prodigy of Nigerian Highlife Music

Moniepoint is on a mission to make digital banking and payments smoother for Nigerian businesses and individuals. And with Visa in their corner, they’re set to shake things up even more.

---

Angola to sell stakes in key assets to attract investors

Angola’s getting ready to let go of some of its biggest assets to reel in investors. The government plans to sell stakes in Unitel — its telecom company — along with Banco de Fomento Angola and Standard Bank’s local unit.

Part of the Unitel sale will even hit the stock exchange! According to Jose de Lima Massano, the country’s Economic Coordination Minister, this is all part of a massive push to privatise state-owned businesses and move the economy beyond oil.

Since 2019, Angola has been chipping away at its list of nearly 200 assets for privatisation — over half are already sold! But if you’ve got your eyes on the oil company Sonangol or diamond firm Endiama, you’ll have to wait a bit longer. Massano says they’re still ironing out the details to make sure these companies deliver when they finally go to market.

Meanwhile, the government’s holding tight to its stakes in Portuguese heavyweights Banco Comercial Portugues and Galp Energia, thanks to their recent stellar performance.

In other news, Angola just took a huge leap into space with a €225 million deal to build and launch its very own Earth Observation Satellite System. The project, in collaboration with European aerospace giant AIRBUS, includes everything from construction to in-orbit installation. Talk about aiming high!

Finance Minister Vera Daves de Sousa signed the agreements during the Angola-France Economic Forum. But that’s not all — Angola’s also ramping up its meteorological services with upgrades for its national seismology network and modernising a Luanda lab for medicine quality control.