26/08/2026
Moniepoint is winding down MonieWorld, its UK‑to‑Nigeria remittance service, just 14 months after launch. The company explained that it is redirecting capital, technology, and operational resources toward its core African markets, with Nigeria and Kenya as priorities.
This move signals a strategic pivot. Rather than competing in the crowded remittance space abroad, Moniepoint is doubling down on its strongest advantage, building financial infrastructure where it already dominates. Nigeria remains its largest market, and Kenya is a fast‑growing hub for fintech innovation.
The decision also reflects broader industry realities. The remittance sector is highly competitive, with established players like WorldRemit, Wise, and Remitly already entrenched. By focusing inward, Moniepoint can strengthen its ecosystem: payments, lending, and merchant services, etc, in regions where it has cultural and operational leverage.
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