African diaspora residing in the UK now has a new financial service at their disposal, as Moniepoint unveils MonieWorld.
In an exciting development for the African diaspora, Moniepoint, a leading Nigerian fintech company, has launched the MonieWorld app - a digital remittance and finance solution designed specifically for Africans living abroad, particularly in the UK. With plans to expand beyond the UK into other African markets, notably Kenya, Moniepoint aims to create a comprehensive digital finance ecosystem for the African diaspora population.
The MonieWorld app is now available on the App Store and Google Play, simplifying remittance transactions between the UK and Nigeria. The app not only supports personal remittances but also aims to scale financial access, potentially strengthening Nigeria's economy and boosting bilateral trade between the UK and Nigeria.
Moniepoint's strategic expansion plans beyond the UK are focused on deepening its presence in East Africa, with a significant move being the acquisition of a majority stake in Kenya's Sumac Bank. This acquisition aligns with Moniepoint's broader vision to become a leading fintech provider across emerging markets in Africa.
The mission of Moniepoint embraces financial inclusion by extending services from Nigeria to other African countries and internationally. This ensures that Africans abroad can access seamless remittance and banking services via MonieWorld. Alongside market expansion, Moniepoint aims to broaden its financial offerings, including personal banking, credit access, and business management tools, further enhancing MonieWorld as a comprehensive digital finance solution.
One of the key advantages of MonieWorld is its acceptance of multiple payment methods, including Apple Pay and Google Pay, and its offering of competitive exchange rates that are adjusted throughout the day. Moreover, there are no transaction fees for using MonieWorld, making it an attractive option for those looking to send money back home.
Moniepoint currently serves over 10 million businesses and individuals in Nigeria and is committed to extending its services to diaspora communities. The recent launch of MonieWorld in the UK marks a pilot for potential replication or scaling in other international diaspora hubs. After its UK debut, MonieWorld plans to expand into a broader platform for African diasporas globally, enabling fast transfers to Nigeria and facilitating a more connected and financially inclusive African diaspora.
Additional financial solutions are in the pipeline for MonieWorld, further cementing its position as a game-changer in the remittance and digital finance landscape for the African diaspora. With its user-friendly interface, wide range of payment options, and commitment to financial inclusion, MonieWorld is set to revolutionise the way Africans living abroad manage their finances and support their loved ones back home.
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