Moniepoint is winding down MonieWorld, its UK-based remittance business, just 14 months after launch, in a strategic retreat from the diaspora market that shifts capital and management attention back to Nigeria and Kenya.
The decision marks a recalibration of the Nigerian fintech’s international expansion strategy. Rather than continue investing in a highly competitive UK-Nigeria remittance corridor, Moniepoint said it will redirect its technical, financial and operational resources toward its core African markets.
Moniepoint said on Tuesday that a review of its portfolio and long-term priorities led to the decision. The company described the move as a strategic transition rather than a retreat from its broader African ambitions.
Read also: Nigeria’s seven months stock deals reach N11.98 trn, nearly double 2025 record
The timing is significant. MonieWorld launched in April 2025, giving Nigerians in the UK a way to send money directly to Nigerian bank accounts through bank transfers, cards, Apple Pay and Google Pay. At launch, Moniepoint said the product was built to tap into Nigeria’s large remittance flows.
