Introduction In the span of just two years, Nigeria’s fintech giant Moniepoint has evolved from a dominant point-of-sale (PoS) payments player into a full-stack financial ecosystem that deeply embeds itself into the daily operations of millions of businesses. What started as a strong PoS distribution network has become a comprehensive platform where payments, credit, banking, business management, and merchant tools all converge — creating powerful lock-in effects for its user base. This transformation reflects a broader shift in African fintech: platforms built for scale now compete on depth of engagement and dependency, not just transaction volume. From Backend to Core…
Author: FinTech Today
Introduction Nigeria’s mobile network coverage along major highways is improving, but significant connectivity gaps remain particularly in northern border regions and feeder routes. A new report by Ookla Advanced Analytics Services (AAS) provides a detailed look at mobile signal availability and quality across Nigeria’s vast road network, highlighting both progress and persistent challenges for travelers, logistics operators, and road users. At FintechTodayNews.com, we break down what the findings mean for connectivity, safety, and digital services on Nigerian roads. Scope of the Analysis The Ookla analysis covered approximately 292,000 kilometers of Nigeria’s road network, including: Primary roads Secondary roads Trunk (interstate)…
Introduction MTN Mobile Money Zambia has launched a new international remittance service, allowing customers to send money directly from their MoMo wallets to bank accounts across the European Union, the United Kingdom, and Canada. With transfer fees starting from as low as K5, the move positions MTN MoMo as the most affordable international money transfer option currently available in Zambia, while also making it the first mobile money provider in the country to offer direct wallet-to-bank international transfers to these regions. What the New MTN MoMo Service Offers The new service enables customers to: Send money directly from MoMo wallets…
Introduction Safaricom Ethiopia has crossed a major milestone, surpassing 12 million active users, as its mobile money service M-PESA gains traction in one of Africa’s fastest-growing telecom and fintech markets. The achievement signals growing acceptance of digital payments in Ethiopia, a country that only recently opened its telecom sector to private competition. At FintechTodayNews.com, we examine what’s driving Safaricom Ethiopia’s growth, how M-PESA is expanding, and why this matters for Africa’s fintech landscape. Safaricom Ethiopia’s Growth Story Safaricom entered Ethiopia in 2022 after securing a telecom license as part of the country’s market liberalization efforts. Since launch, the company has…
Introduction Nigeria’s digital identity and payments infrastructure is quietly expanding — and Chams Plc is one of the companies benefiting most from the shift. The identity management and smart card solutions provider recorded 17.9% growth in 2025, supported by a $4.26 million increase in demand for SIM cards and bank cards. At FintechTodayNews.com, we explain why this growth matters, what is driving it, and how it fits into Nigeria’s broader fintech and regulatory landscape. What Drove Chams’ 17.9% Growth? Chams’ performance in 2025 was largely powered by infrastructure demand, not consumer fintech apps. Key drivers include: Increased SIM card issuance…
Introduction One figure keeps showing up in conversations about Nigeria’s tax reforms: ₦800,000 Many Nigerians now ask: “If I earn less than ₦800,000, am I exempt from tax?” “Does this apply to POS agents?” “Is it monthly or yearly?” At FintechTodayNews.com, we break down what the ₦800,000 threshold really means — without confusion or fear. What Is the ₦800,000 Tax Threshold? The ₦800,000 threshold refers to annual income, not monthly earnings. In simple terms: If your total annual income is ₦800,000 or less, you may pay little or no personal income tax It is tied to reliefs and allowances,…
Can You Be Taxed Without a Bank Account in Nigeria? Introduction Many Nigerians believe that staying outside the banking system means staying outside the tax net. But with fintech apps, POS machines, and digital payments everywhere, that belief is increasingly risky. A common question we hear at FintechTodayNews.com is simple but important: “If I don’t have a bank account, can I still be taxed?” The short answer: Yes – depending on how you earn and transact. Here’s the full explanation, without fear or misinformation. The Old Thinking: No Bank Account, No Tax For years, many informal workers operated entirely in…