Moniepoint Disburses $700 Million in Business Loans to MSMEs
Fintech giant Moniepoint has disclosed that it disbursed over $700 million in credit to micro, small, and medium enterprises (MSMEs), with 75% of borrowers accessing formal business credit for the first time.
Lagos, Nigeria — Financial services platform Moniepoint has announced a major credit milestone, disclosing that it has disbursed over $700 million in loans to Micro, Small, and Medium Enterprises (MSMEs). The announcement was featured in the company's latest Impact Report, highlighting its focus on formalizing credit access across sub-Saharan Africa.
Moniepoint provides business banking, POS card processing, and working capital loans to merchants in Nigeria. The platform makes money through transaction commissions and interest spreads on loans. The business model has scaled to serve over 20 million businesses and individuals.
According to the report, approximately 75% of the merchants who accessed credit through Moniepoint were obtaining formal business credit for the first time in their operations. This has allowed retail shops, distributors, and local manufacturers to bypass traditional collateral requirements.
Lack of access to credit remains the single biggest constraint for small businesses in Africa. By leveraging transaction data and merchant banking workflows, Moniepoint is able to underwrite loans for businesses that traditional banks classify as too risky.
This massive credit volume confirms Moniepoint's successful capture of transaction data as a high-fidelity underwriting signal. Traditional credit bureaus are systematically blind to the informal transactions that Moniepoint processes on its POS network. For investors, this demonstrates that proprietary distribution networks combined with transactional history is the only viable path to scaling B2B lending in Nigeria. The key risk lies in macro-inflationary pressure eroding repayment capacity on uncollateralized loan books.
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