Moniepoint Microfinance Bank Chief Executive Officer (CEO) Babatunde Olofin has stated that Africa's finance future will not be determined by depending on foreign insight but on homegrown solutions, including a progressive policy environment, sound regulatory oversight and informed advocacy through the media. Olofin stated this at the 2025 annual conference of the Finance Correspondent Association …
Africa’s Finance Future Will be Determined by Homegrown Solutions – Moniepoint CEO
Moniepoint Microfinance Bank Chief Executive Officer (CEO) Babatunde Olofin has stated that Africa’s finance future will not be determined by depending on foreign insight but on homegrown solutions, including a progressive policy environment, sound regulatory oversight and informed advocacy through the media.
Olofin stated this at the 2025 annual conference of the Finance Correspondent Association of Nigeria (FICAN) held in Lagos on Saturday.
Olofin, who was represented by the Head of Corporate Communications, Mr Bemigho Awala, reaffirmed the bank’s commitment to financial inclusion as the cornerstone of its business, declaring that its mission goes beyond market share to transforming lives across Nigeria and Africa.
The 2025 FICAN conference themed ‘Bracing for the Digital Economy in Nigeria: Taxation, Banking and Finance’ brought together experts and stakeholders across the country’s key financial sector.
The Moniepoint CEO highlighted the bank’s efforts towards driving financial inclusion through the creation of digital technology platforms for payment and access to credit for SMEs across the country.
He narrated a story of how access to the microfinance bank’s credit enabled a petty trader to, within two years, transform into having three thriving stores and recording significant daily revenues that once seemed impossible.
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“That is the power of access. That is the meaning of inclusion,” the CEO declared. “Financial services should mean only one thing: progress,” he added.
He explained that Moniepoint’s new campaign, “We’re Made for Your Progress”, reflects its broader mission to power the dreams of Africans by using technology to provide speed, trust, and simplicity in financial transactions.
Olofin stressed that the digital economy is a reality that has come to stay, propelled by tools such as mobile connectivity, cloud computing, and artificial intelligence.
However, according to him, three pillars – trust, talent, and literacy – must be prioritised for digital technology to truly catalyse development. He revealed that Moniepoint is investing heavily in these areas.
He described Moniepoint’s “Dream Developments” scheme as an incubator that trains young Nigerians to build financial solutions, while the company also champions financial literacy as a safeguard against exclusion and misinformation. “Without knowledge”, he warned, “we are building on sand.”
The bank’s CEO said it has extended its digital solutions beyond banking transactions into areas such as inventory management for small retailers, enabling mom-and-pop shops to track stock and improve profitability.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.
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