Moniepoint
Moniepoint is a neobank that offers digital banking services tailored for individuals and businesses in Africa. It provides a user-friendly platform for managing finances, making transactions, and accessing financial tools.
- Offers digital banking services for individuals and businesses
- Facilitates easy money transfers and payments
- Provides financial management tools and insights
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Overall score: 4.38 / 5
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The CBN's 2026 announcement about reclassifying fintech licences was actually the public confirmation of a process that had quietly been underway for a year. A central bank official revealed in January 2026 that major players such as Moniepoint, OPay, and Kuda had already moved up to new regulatory tiers before the formal announcement was made. This suggests the licence changes were part of an ongoing review rather than a sudden regulatory shift.
For consumers: if you use apps like Moniepoint, OPay, or Kuda, this upgrade signals these platforms meet stricter regulatory standards, which can mean greater oversight and potentially more protection for your money.
Kuda Bank
Moniepoint
OPay
Moniepoint's remittance arm, MonieWorld, has ceased operations despite reportedly growing its transaction volumes, illustrating how difficult it is for African fintech firms to sustain a foothold in the UK market. The closure points to steep operating costs and intense competition from established money transfer players, which can outweigh the benefits of revenue growth alone. This case serves as a broader signal that scaling remittance services abroad requires more than customer traction—it demands a viable cost structure.
For consumers: if you relied on or were considering MonieWorld for sending money between the UK and Africa, you'll need to find an alternative remittance provider going forward.
MonieworldMoniepoint is shutting down MonieWorld, its London-based money transfer service, just months after launching it in April 2025. The company says it wants to concentrate its funding and staff on its main business platform serving companies across Africa instead of running a separate consumer remittance product. This move suggests Moniepoint is narrowing its focus rather than expanding into new international consumer markets.
For consumers: anyone who signed up to send money through MonieWorld should expect the service to be discontinued and will need to find an alternative remittance provider.