Business

Moniepoint buys Orda to capture Africa’s $50bn restaurant economy

Founded in 2020, Orda built software designed for small and independent restaurants that previously operated without digital systems.

Published

8 months ago

March 23, 2026

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Screenshot 2026 03 23 09 40 16 80 40deb401b9ffe8e1df2f1cc5ba480b12

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Photo: Tosin Eniolorunda, Moniepoint co-founder and group CEO

Nigerian fintech company Moniepoint Inc. has acquired restaurant management startup Orda Africa in a move aimed at expanding its reach into Africa’s fast-growing food service industry, a sector estimated to be worth about $50 billion across the continent.

BusinessDay reports that the deal integrates Orda’s cloud-based restaurant software into Moniepoint’s business management platform, Moniebook, allowing food vendors and restaurants to manage orders, payments, inventory and accounting from a single system.

The acquisition highlights a wider shift among African fintech firms that are moving beyond payments to offer operational tools and credit to small businesses, especially those in the informal economy.

Tosin Eniolorunda, Moniepoint co-founder and group CEO, said that the food sector represents one of the most active but underserved parts of Africa’s economy.

“The food industry is a major source of jobs and daily survival for many Africans,” Eniolorunda said, adding that many businesses still rely on manual processes and disconnected tools.

The move reflects a growing competition among financial technology firms to control the digital infrastructure behind small businesses, particularly restaurants, which generate frequent transactions and require working capital.

Africa’s food service market is expanding quickly as urban populations grow and more consumers eat outside the home.

Nigeria alone is projected to see its restaurant market reach about $19.3 billion by 2030, growing at an annual rate of more than 11 percent.

Founded in 2020, Orda built software designed for small and independent restaurants that previously operated without digital systems.

The company’s tools help businesses track orders, manage kitchen workflows and monitor stock levels.

Guy Futi, Orda CEO, said joining Moniepoint would allow the company to connect operational data from restaurants with financial services such as payments and credit.

“To truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure,” Futi said, adding that customers would continue to use the platform while gaining access to new services.

Related Topics:Featured Moniepoint orda acquisition

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Naira Exchange Rates Thursday, 5 Nov 2026

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19 hours ago

November 5, 2026

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BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

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₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

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Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.