Moniepoint MFB wins Best Fintech for supporting Nigeria’s hospitality industry

Moniepoint Microfinance Bank, Nigeria’s leading digital financial services provider and definitive bank for businesses, has been honored with the prestigious Best Hospitality Industry Support – Fintech Award at the 2024 Hotel Industry Excellence and Sustainability Award (HIESA). This recognition underscores Moniepoint’s commitment to empowering businesses within the hospitality industry through innovative financial solutions. As a major artery in Nigeria’s booming hospitality sector, Moniepoint provides a range of digital financial services that streamline financial operations, improve guest experiences with digital payment and contribute to the overall growth and sustainability of the industry.

The tourism and hospitality sector in Nigeria holds significant economic importance as it contributes in part to the country’s GDP and stimulates economic growth via improved revenue generation, attracting FDIs, job creation, cultural preservation and sustainable development. It will be recalled that consulting giants, PWC had forecast that Nigeria will experience a robust growth of 12% in Nigeria’s hospitality industry.

Speaking on the rationale for Moniepoint’s award, Chibuikem Diala, Executive Director, IHTEF, noted that Moniepoint has become a symbol of innovation, dedication and a testament to the resilience, expertise, partnership that is inherent in developing homegrown brands for the good of the hospitality sector in Nigeria.

“Moniepoint has been chosen by industry leaders because of its innovative contributions towards seamless financial transactions in the hospitality industry. It is worthy of note that Moniepoint as a financial technology brand with inventive solutions have helped to revolutionize financial services in hotels, restaurants, lounges, etc, and for small businesses especially those within the hospitality, fast foods, travel and tourism ecosystem in Nigeria who now experience very minimal processor failure disputes, considerably reduced downtime and track-able transactions, thereby providing effective tools to run hospitality businesses with ease, uncommon simplicity, security and profitability,” he said.

Commenting on the award, Babatunde Olofin, Moniepoint MFB’s Managing Director, expressed delight while noting that “we are honored to receive this award from HIESA which is an eloquent testimonial to the collaborative work that we do at Moniepoint. We believe that a thriving hospitality industry is essential for Nigeria and we remain committed to fostering a thriving ecosystem through continued innovation. Our customers remain at the centre of our universe and we’ll continue to ensure that we power their dreams in more ways so that they can experience financial happiness.”

The HIESA is a highly respected award program that acknowledges the exceptional efforts of organizations and individuals propelling the hospitality and tourism sector forward. By recognizing excellence in areas like leadership, innovation, and service quality, HIESA paves the way for a more robust and sustainable industry.

The awards ceremony was organized as part of the 7th edition of International Hospitality Tourism and Eco-Sustainability Forum (IHTEF) held at the Ladi Kwali Hall, Abuja Continental Hotel on April 25th, 2024. The IHTEF is a hospitality focused intellectual marketplace, a ‘platform of minds’ that brings together thought leaders, influential government figures, project developers, hotel managers, visionaries, investors, hotel owners, consumers and sustainability enthusiasts. With the theme, “Emerge Together; Reimagining a Green Hospitality Economy”, the forum examined how hospitality businesses should conduct themselves in the light of the emerging green economy while x-raying the intersections between hospitality circular economy, effective resource maximization, and quality skills and standards needed for a new hospitality economy.

Some of the guests at the ceremony included the Honourable Minister for Tourism, Mrs Lola Ade-John (Special Guest of Honour), other industry leaders include IHTEF Africa’s conference advisor, Mr Trevor Ward of W Hospitality Group, Turkey, Director Lodging & Development, Marriott West Africa; Mr Adedayo Adesugba, Vice Chair, Association of Tourism and Hospitality Consultants of Nigeria (ATHCON); Mrs. Oluwasoromidayo George, Director Corporate Affair & Sustainable Business, Nigeria Bottling Company  Mr Ekene Nnabuihe, CEO Boulevard Hotel Group; Dewald Kruger, The Envoy Abuja; Mrs Kehinde Daniel, Kots Catering; Ms Idy Ekwo, Hospitality Connect, Worldwide; Alain Salameh, General Manager, Hawthorn Suites by Wyndham; and Toni Cheikwafah of Beer Barn.

In recognition of the bank’s strategic importance to Nigeria’s financial services sector, Moniepoint MFB has received several accolades including the prestigious Rising Star Family Business Award Pwc/Businessday Family Business Summit; Fintech Company of the Year award at the 16th edition of Leadership Newspapers Conference and Awards, the Most Outstanding Microfinance Bank in Consumer Engagement at the Brandcom Awards, NITDA’s Digital Nigeria 2023 winner for the Fintech Category. Moniepoint Inc was listed for the second year running amongst the 100 most promising private fintech companies by CB Insights and the reputable Financial Times named it Africa’s second fastest-growing company. Moniepoint Inc also received critical acclaim as the “Most Outstanding Fintech Company in Financial Inclusion at the Brandcom Awards. Group CEO, Moniepoint Inc, Tosin Eniolorunda was named the 2024 Legit Business Leaders Awards in recognition of his outstanding contributions to Nigeria’s economy.

Moniepoint’s win at the 2024 HIESA signifies its unwavering commitment to playing a vital role in the Nigerian hospitality industry’s success story. The company looks forward to building on its achievements and amplifying its positive impact in the years to come.