Moniepoint Makes Strategic Move into Nigeria's Booming Food Sector with Orda Acquisition
Moniepoint Inc., a leading fintech company, has announced the acquisition of Orda Africa, a Nigerian cloud-based software provider for restaurants, in a bold step to enter Africa's rapidly growing food industry. This deal, confirmed on March 23, 2026, positions Moniepoint to tap into a market estimated at $50 billion across the continent, with Nigeria alone projected to reach $19.31 billion by 2030, growing at an annual rate of 11.73%.
Integration to Enhance Business Management for Food Entrepreneurs
Orda will be integrated into Moniepoint's Moniebook platform, a comprehensive point-of-sale and business management solution. This integration aims to provide restaurant owners and food vendors with a unified system for managing payments, tracking operations, handling bookkeeping, and accessing credit facilities. By combining Orda's operational software with Moniepoint's financial infrastructure, the company seeks to eliminate inefficiencies from fragmented tools and manual processes that currently dominate the sector.
Targeting Growth and Empowerment in the Food Industry
Tosin Eniolorunda, co-founder and CEO of Moniepoint, emphasized the strategic importance of this acquisition, stating that the food industry is not only about feeding people but also a major source of jobs and livelihoods for many Africans. He highlighted that many businesses in this dynamic sector still rely on outdated systems, and the integration will offer a simple platform to manage everything from kitchen operations to business growth.
Guy Futi, CEO of Orda, expressed confidence in the acquisition, noting that it represents a new chapter for the company and its customers. He assured a smooth transition, with the integration expected to unlock new opportunities without disrupting existing services.
Empowering a Wide Range of Food Businesses
Moniepoint plans to cater to a diverse range of food businesses, from small roadside vendors to large restaurant chains. The combined platform aims to boost efficiency, improve access to capital, and help entrepreneurs scale their businesses more sustainably. This move positions Moniepoint as a key player in shaping the digital future of Africa's food services market.
Moniepoint Addresses Recent Controversies
In related news, Moniepoint Microfinance Bank has denied reports of arresting customers over service complaints. At a media briefing on March 18, 2026, the company clarified that the ongoing legal case involves a coordinated digital campaign allegedly aimed at damaging its reputation, rather than customer criticism.
