Moniepoint Expands Offerings with Acquisition of Orda Africa
Moniepoint, Africa’s comprehensive financial ecosystem platform, has announced its acquisition of Orda Africa, a cloud-based restaurant management system operating in Nigeria. This strategic move integrates Orda into Moniepoint’s Moniebook business management suite, enhancing the services available to restaurant owners.
Integration to Enhance Business Management
With its incorporation into Moniebook, Orda will provide restaurant operators with access to a wider array of financial services, including payments, bookkeeping, and credit, along with essential management tools for ordering, inventory tracking, and supplier payments. This integration is expected to simplify operations for restaurant owners, making it easier to manage both financial and operational tasks.
Moniepoint’s Growth and Market Presence
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has established itself as a leader in Nigeria’s financial services sector, particularly focusing on micro, small, and medium-sized enterprises (MSMEs) in the informal economy. The platform provides a range of services including digital payments, banking solutions, credit options, cross-border transactions, and business management tools, currently boasting over 20 million active customers and facilitating more than $250 billion in digital payment transactions annually.
Addressing the Needs of Africa’s Restaurant Sector
Orda, established in 2020, was created to empower Africa’s small and independent dining establishments with specialized software, allowing them to operate more effectively in a market that historically lacked dedicated digital solutions. The platform underscores the importance of operational efficiency for restaurant owners who have traditionally relied on manual processes.
Tosin Eniolorunda Discusses Industry Impact
Moniepoint’s co-founder and group CEO, Tosin Eniolorunda, emphasized the crucial role of the food sector in providing jobs and supporting daily survival for numerous Africans. He pointed out that while Africa’s restaurant industry serves as a vital economic driver, many businesses still depend on fragmented tools. By integrating Orda, Moniepoint aims to deliver a unified solution that empowers restaurant owners to effectively manage their operations and scale their businesses.
Orda’s Vision for Future Growth
Guy Futi, CEO of Orda, expressed confidence in the integration with Moniepoint, highlighting the synergy between their deep expertise in restaurant operations and Moniepoint’s financial infrastructure. He reassured existing Orda users that the transition would be seamless, promising no disruption to services, while also enhancing their access to new opportunities. This collaboration is expected to provide restaurant owners with additional resources to grow and expand their businesses.
Commitment to Financial Empowerment
Moniepoint continues its mission to foster financial inclusion and growth across Africa. As the company integrates Orda into its suite of services, it remains dedicated to providing business owners with the tools necessary to unlock their full potential and achieve greater financial stability.