👨🏿🚀TechCabal Daily – MonieWorld, MonieExit
In today's edition: Moniepoint is phasing out remittance product || Courier platforms must submit data in Kenya || MTN targets 30 million fintech users in Nigeria || Nigeria is getting two new satellites
In a recent episode of TechCabal's Headlines by TechCabal, hosts Eme Agbor and Muktar Oladunmade engaged in a conversation with Saheed Azeez, the founder of YarnGPT.ai. They discussed the challenges and intricacies involved in building AI products in Africa, focusing on data acquisition and user demands. The conversation also touched upon the implications of internet users' conversations becoming part of the data pool.
Additionally, the article highlighted Moniepoint, a Nigerian fintech unicorn, which recently announced the shutdown of its remittance app, MonieWorld. Following its launch in April 2025, Moniepoint invested heavily in establishing its UK subsidiary, Moniepoint GB. By December 2024, the company had spent $1.26 million on administrative and infrastructure costs.
Furthermore, Moniepoint invested $2.51 million in acquiring Bancom Europe, a UK Financial Conduct Authority-authorized electronic money institution (EMI). Regulatory filings reveal that Moniepoint had spent a total of $3.77 million on the UK expansion.
Written by urgent.news from TechCabal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
