Moniepoint Inc. has released its inaugural Impact Report, revealing that increased access to formal credit is driving significant growth among Nigeria’s micro, small and medium-sized enterprises (MSMEs). Businesses on its platform now support more than eight million jobs, underscoring the fintech’s role in the country’s economic development.
The report, titled ‘Creating Financial Happiness,’ highlights Moniepoint’s evolution into a comprehensive financial ecosystem serving over 20 million customers. By providing credit to small businesses, Moniepoint is helping to fuel entrepreneurship and employment across Nigeria.
Industry experts say the findings demonstrate how fintech companies are bridging the credit gap for MSMEs, which are often underserved by traditional banks. This access is enabling businesses to expand, hire more staff, and contribute to the broader economy.
Moniepoint’s growth reflects the increasing digitization of financial services in Nigeria, where mobile money and digital lending are becoming mainstream. The report’s release marks a milestone for the company as it showcases its social and economic impact beyond just financial metrics.
Article source: primetimereporters.com | Image credit: Yahoo Finance
