Moniepoint MfB, TeamApt expand retail access to Dangote Refinery IPO

By Babajide Komolafe

Moniepoint Microfinance Bank, one of Nigeria’s leading financial institutions, and TeamApt Ltd., a major financial technology switch and payments infrastructure provider, have collaborated to expand retail access to the Initial Public Offering (IPO) of Dangote Petroleum Refinery, bringing the landmark capital markets opportunity closer to Nigerians through Moniepoint’s digital banking platforms and nationwide POS network.

For the first time, an offering of this scale is being made accessible through channels that meet Nigerians where they are. Customers can walk into a Moniepoint agent location and subscribe directly through the POS terminal, bringing the IPO within reach of communities across the country.

Both independent subsidiaries within the Moniepoint Group, Moniepoint MFB and TeamApt bring complementary strengths to the offering. Moniepoint MFB provides the customer reach and distribution network that brings the opportunity into communities across Nigeria, while TeamApt provides the technology infrastructure that enables transactions to be processed reliably and at scale.

“Moments like this are exactly why we built Moniepoint the way we did,” said Babatunde Olofin, Managing Director & Chief Executive Officer, Moniepoint Microfinance Bank.

He stated further, “We have always believed that financial happiness is about more than the ability to transact. It is also about having access to opportunities to grow and build wealth. The Dangote Petroleum Refinery IPO gives Nigerians a chance to participate in the growth of a significant Nigerian business.

‘‘By making it accessible through our POS network particularly, we are helping democratize wealth opportunities, reaching everyday people – market traders, artisans, and first-time investors wherever they are.”

“For years, we have been building the rails that quietly power finance across Nigeria, and this is a glimpse of what those rails were built for,” said Dennis Ajalie, Managing Director & Chief Executive Officer, TeamApt Ltd. “Our technology is connecting a major capital-markets opportunity to a distribution network that reaches millions, making it possible for retail participation to happen through channels that are already part of everyday life.

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