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Moniepoint Managers Break Silence on $200M ‘Miraculous’ Fundraise Backed by DPI, Google, Visa, IFC & LeapFrog

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Moniepoint Inc., Nigeria’s leading digital financial services provider, has announced the successful close of its Series C funding round, raising over $200 million in equity financing. The investment underscores the company’s rapid growth, sustained profitability, and strong impact in expanding financial inclusion across Africa.

The round was led by Development Partners International’s ADP III fund, with the final close anchored by LeapFrog Investments, a top-tier impact investor. Other high-profile participants include Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, Verod Capital Management, Lightrock, and Alder Tree Investments.

Moniepoint, formerly known as TeamApt, is now one of the few global fintechs — and the first in Africa — to achieve profitability at unicorn scale while driving inclusion for millions of underserved individuals and businesses. With over 10 million active users and an annual digital transaction value exceeding $250 billion, the company has cemented its status as a cornerstone of Africa’s digital economy.

Funding to Fuel Expansion and Innovation

According to Moniepoint, the new capital will support its next growth phase — enhancing services for micro, small, and medium-sized enterprises (MSMEs), expanding its presence across Africa, and venturing into new international markets.

The raise follows a period of strong momentum for the company, marked by the launch of MonieWorld, a remittance solution for the African diaspora in the UK, and a new integrated payment and bookkeeping platform for MSMEs. Moniepoint was recently named one of Africa’s fastest-growing companies by the Financial Times for the third consecutive year, and also featured in CNBC’s Top Global Fintech Companies 2025.

Executive and Investor Commentary

Moniepoint’s Group CEO and co-founder Tosin Eniolorunda called the raise a “proud day” for the company.

“We founded Moniepoint to widen financial inclusion and help African entrepreneurs realise their potential. The support from world-leading institutions is a powerful validation of that mission,” said Eniolorunda.
“We will deploy the funds strategically to build momentum in our next chapter — delivering financial happiness for Africans everywhere.”

Development Partners International (DPI), which led the initial close of the round in October 2024, reaffirmed its confidence in the fintech.

“Moniepoint continues to deliver innovation, scale, and profitability. We’re proud to back their leadership as they grow across Africa and beyond,” said DPI Partner Adefolarin Ogunsanya.

LeapFrog Investments Partner Karima Ola emphasized Moniepoint’s impact on African MSMEs:

“MSMEs are the heartbeat of African economies. Moniepoint empowers them with the tools they need to grow, employ others, and formalize operations.”

IFC’s Global Director for Disruptive Technologies, Farid Fezoua, highlighted the fintech’s role in digitizing informal retail:

“Moniepoint is transforming how MSMEs operate in Nigeria. With competitively priced point-of-sale devices and a modern digital platform, it enables growth and job creation in a cash-dominated sector.”

Continued Backing from Global Investors

The Series C round expands Moniepoint’s roster of global blue-chip investors, including QED Investors, Novastar Ventures, FMO, British International Investment, Global Ventures, Endeavor Catalyst, and New Voices Fund.

Financial Technology Partners acted as exclusive financial and strategic advisor to Moniepoint throughout the transaction.

Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved from building bank payment infrastructure to becoming Nigeria’s leading business banking platform, offering a full suite of financial services — including digital payments, business and personal banking, credit, and business management tools.

With this latest funding milestone, Moniepoint is poised to accelerate its mission to empower African businesses and individuals to achieve their financial dreams.

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Kenyan President mocks Nigerians’ spoken English

As former British colonies, both Kenya and Nigeria share English as an official language, but each country has developed distinct spoken varieties with different phonetic structures.

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“If you listen to a Nigerian speaking, you don’t know what they are saying – you need a translator; Kenyans spoke “some of the best English in the world”, boast Kenyan President William Ruto, while addressing Kenyans in Italy this week.

Earlier this month, Nigerian President Bola Tinubu faced a backlash from Kenyans online after stating that Nigerians were “better off than those in Kenya and other African countries” despite rising fuel prices at home.

Ruto’s remarks drew fierce condemnation from Nigerians and other Africans online who accused the Kenyan leader of demeaning a fellow African nation.”

English is a colonial language, not a measure of intelligence, capability, or national progress,” wrote Hopewell Chin’ono, a Zimbabwean journalist.

As former British colonies, both Kenya and Nigeria share English as an official language, but each country has developed distinct spoken varieties with different phonetic structures.

These differences reflect the influence of indigenous languages – Nigeria has more than 500 languages which shape its cadence and intonation, while Kenya’s Bantu, Nilotic and Cushitic mix give rise to its own accents.

But in his address to the diaspora gathering, Ruto said Kenya’s education system produced strong English proficiency and that it was difficult to understand Nigerians when they spoke English.

“Our education is good. Our English is good. We speak some of the best English in the world. If you listen to a Nigerian speaking, you don’t know what they are saying. You need a translator even when they are speaking English,” he said, sparking laughter in the room.

“We have some of the best human capital anywhere in the world. We just need to sharpen it with more training,” Ruto added.

His remarks have led to widespread reactions on social media, with many users criticising the Kenyan leader for showcasing a “deep inferiority complex rooted in colonial conditioning”.

“Ruto is mocking the English of the country with a Nobel Prize for literature winner.The Nation of Achebe and Chimamanda,” former Nigerian senator Shehu Sani posted on X, referring to Wole Soyinka – the country’s only Nobel Prize winner – along with acclaimed authors Chinua Achebe and Chimamanda Ngozi Adichie.

Other social media users urged Ruto to focus on addressing pressing issues facing his citizens – such as the cost of living and unemployment – rather than engaging in what they described as distractions.

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Jonathan visits Tinubu in Aso Rock

Jonathan’s latest visit comes months after his last known appearance at the State House in November 2025, shortly after his evacuation from Guinea-Bissau amid a political crisis.

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PRESIDENT Bola Tinubu on Wednesday received former President Goodluck Jonathan at the Presidential Villa, Abuja, in what officials described as part of ongoing high-level consultations on regional and continental issues.

The meeting, which was held behind closed doors at the State House, began at about 4 pm.

Sources familiar with the engagement indicated that the interaction aligns with a pattern of periodic consultations between both leaders, particularly on political developments in West Africa and Nigeria’s broader diplomatic and continental engagements..

Images from the meeting showed both leaders in a relaxed setting, engaged in conversation inside the President’s office.

Jonathan’s latest visit comes months after his last known appearance at the State House in November 2025, shortly after his evacuation from Guinea-Bissau amid a political crisis.

The former president had been leading a West African Elders Forum election observation mission when soldiers loyal to Brigadier-General Dinis Incanha reportedly staged a coup, detaining incumbent President Umaro Sissoco Embaló ahead of the official announcement of the November 23 presidential election results.

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Nigeria’s Ambassador to Algeria, Mohammed Lele, dies at 50

Born in Gamawa, Bauchi State, in 1976, Lele studied Economics at Bayero University Kano. During his diplomatic career, he served in Nigeria’s missions in Berlin, Lomé and Riyadh.

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Nigeria’s ambassador-designate to Algeria, Mohammed Mahmud Lele, has died at the age of 50.

Lele was buried in Kano on Wednesday in accordance with Islamic rites.

His death was confirmed on Wednesday by the Ministry of Foreign Affairs in a statement issued in Abuja by its spokesperson, Kimiebi Ebienfa.

According to the ministry, Lele died in the early hours of April 19, 2026, in Ankara, Türkiye, following a prolonged illness.

The ministry described his death as a significant loss, noting that he was a seasoned diplomat who served Nigeria with dedication and professionalism.

Before his nomination as ambassador-designate to Algeria, Lele was the Director in charge of the Middle East and Gulf Division at the ministry.

Born in Gamawa, Bauchi State, in 1976, Lele studied Economics at Bayero University Kano. During his diplomatic career, he served in Nigeria’s missions in Berlin, Lomé and Riyadh.

The Permanent Secretary of the ministry, Dunoma Umar Ahmed, who received his remains at the Nnamdi Azikiwe International Airport, described him as a diligent and humble officer whose contributions would not be forgotten.

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