Moniepoint's Tosin Eniolorunda Clinches Top Honour at 2024 Legit Business Names Awards
- Tosin Eniolorunda has won the 2024 Legit Business Leaders Awards for outstanding contributions to Nigeria's economy
- The Legit Business Leaders Awards, also known as "Legit Business Names," honours business leaders fostering local talents
- This initiative motivates Nigerian entrepreneurs to achieve remarkable success and push their limits in 2024
- Eniolorunda imparts valuable advice to inspire and guide young, aspiring entrepreneurs on their journey to success
Tosin Eniolorunda has emerged as one of the winners of the 2024 edition of the prestigious Legit Business Leaders Awards.
The Legit Business Leaders Awards, more popularly known as "Legit Business Names", is dedicated to celebrating outstanding business leaders who have made significant contributions to Nigeria's economy and demonstrated a commitment to retaining local talents.
Source: UGC
This non-commercial initiative seeks to motivate Nigerian entrepreneurs to push their limits and reach unprecedented achievements in the review year.
Eniolorunda is being commended for his outstanding and visionary leadership of Moniepoint Inc. (formerly TeamApt) in its mission to revolutionise the payment system in Nigeria.
Eniolorunda is a mechanical engineering graduate of the Obafemi Awolowo University, Osun State, Nigeria.
Through Moniepoint, he leads the drive to offer online and offline payments, banking, credit, and business management tools that businesses and individuals need to succeed.
Eniolorunda's journey began with a commitment to addressing the financial inclusion gap, where a significant portion of the population lacked access to formal banking services.
Since its inception, Moniepoint Inc. has worked tirelessly to bridge this gap by providing a user-friendly and accessible platform for financial transactions.
Moniepoint's series of achievements in 2023
One of the notable achievements of Moniepoint under Eniolorunda's leadership is the remarkable growth in its user base.
The platform has successfully onboarded millions of users, reaching far-flung areas previously excluded from the formal financial system.
For Moniepoint Inc., it has been a hugely exciting 2023. Eniolorunda tells Legit.ng that the company has experienced increases in digital payments with year-on-year exponential growth.
With its entry into retail banking after receiving a banking licence from the Central Bank of Nigeria, it launched its new consumer app and customer debit card.
Eniolorunda says this about 2023:
"Our online and offline payments have continued to experience growth in terms of the value of transactions processed as well as increase in the millions of businesses who trust our platforms to deliver value.
"During the course of the year, we also launched our personal banking services to extend Moniepoint MFB’s reliable and robust infrastructure in accessing payments, credit and business management tools to individuals across the country."
Moniepoint targets expansions, mergers and acquisitions in 2024
Moniepoint Inc. has achieved a lot quickly, so much so that the Financial Times rated it as Africa's second fastest-growing company in 2023.
Eniolorunda asserted that in 2024, the company will maintain a proactive stance in advancing its existing business, primarily focused on its offline payment solutions, online payments, and credit services.
He said:
"Moniepoint Inc will be looking to continue with its growth and expansion into other emerging markets even as we look to close out soon on a deal in an East African country any moment from now which then means that in 2024, we would have launched and we’ll be executing."
He expressed the company's intention to actively pursue additional merger and acquisition opportunities in various countries. As a global fintech enterprise, he emphasised diversifying revenue streams across multiple markets and diverse product lines to ensure sustained growth.
Eniolorunda's style of attracting and keeping the best talents in Nigeria
Retaining the finest personnel can be challenging in an economic landscape where the 'japa syndrome' has resulted in the emigration of some of Nigeria's top talents.
Eniolorunda says that Moniepoint operates a 4M cultural framework that helps it recruit and retain the best talents.
This 4M framework has four critical levers - Mastery, Membership, Meaning and Money which help to give everyone who's a part of the Moniepoint family a wholesome and truly defining experience.
He said:
"Meaning revolves around discovering purpose and significance in our actions, while Mastery speaks to a sense of having an unwavering pursuit of excellence that fuels innovation, fosters growth, and ultimately leads to a lasting impact.
"Membership is the vibrant pulse that courses through to forge a profound sense of identity and belonging, and Money creates a place where financial well-being isn't just a goal but a reality."
He highlighted that these four elements are poised to create a content and satisfied group of individuals who take pride in residing in the country and readily navigate challenges with determination, day in and day out.
Eniolorunda's most important advice for aspiring entrepreneurs
Now and then, many ambitious young Nigerians yearn to embark on the entrepreneurial journey. Eager and full of dreams, they seek guidance on navigating the path to success.
Eniolorunda says that even though leaping in pursuit of an entrepreneurial dream may feel daunting, it could turn out to be the most rewarding thing one can ever do.
He adds:
"To those who need advice, I offer these three tips: start small and scale your business gradually, surround yourself with a team of talented and trusted people, and don't be afraid to fail - that is all part of the process of learning and moving forward."
Eniolorunda's Moniepoint has demonstrated a commendable performance in the last few years, emerging as a catalyst for financial inclusion and digital payment adoption in Nigeria.
He has steered Moniepoint towards becoming a transformative force in the country's fintech landscape, leaving an indelible mark on the future of digital payments in Nigeria.
Nigerians abandon bank apps, rush payment platforms amid transaction glitches
In related news, Legit.ng highlighted a significant shift among Nigerians towards embracing payment platforms, veering away from the traditional banks.
This shift is spurred by a growing dissatisfaction among many bank customers who find that their banks no longer assure seamless transactions, unlike the more agile and efficient services provided by contemporary payment platforms.
Notably, names like Moniepoint, Opay, PalmPay, PiggyVest, and others have become prominent fixtures in social media discussions, drawing attention for all the right reasons.
Many Nigerians, recognising the limitations of conventional banks, are turning to these innovative payment platforms as their preferred and reliable alternatives.
PAY ATTENTION: Unlock the best of Legit.ng on Pinterest! Subscribe now and get your daily inspiration!
Source: Legit.ng
