Fintech reports record growth in business lending, first-time borrowers and women entrepreneurs, reinforcing the shift from collateral-based banking to data-driven financial inclusion
Moniepoint has disbursed more than $700 million in loans to Nigeria’s micro, small and medium-sized enterprises (MSMEs) during 2025, highlighting the rapid emergence of data-driven digital lending as a major force in expanding financial inclusion and improving access to business finance.
The figures, contained in the company’s 2025 Impact Report, reveal that three out of every four borrowers received their first-ever formal business loan, demonstrating how fintech platforms are reaching entrepreneurs who have traditionally remained outside Nigeria’s conventional banking system.
Unlike traditional lending institutions that rely heavily on collateral, Moniepoint said it uses proprietary transaction data and cash-flow analytics to evaluate borrowers’ creditworthiness. By analysing real-time business activity rather than physical assets alone, the company is extending credit to thousands of enterprises that previously lacked access to formal finance despite operating viable businesses.
According to the report, businesses that accessed Moniepoint loans recorded an average 36 per cent increase in transaction value, suggesting that improved access to working capital translated into measurable commercial growth. The fintech also estimated that businesses operating on its platform supported more than eight million jobs during the year.
One of the report’s most notable findings relates to female entrepreneurship. Lending to women-owned businesses increased by more than 300 per cent in 2025, with women accounting for 36 per cent of Moniepoint’s total loan portfolio. This significantly exceeds the estimated industry average of between 15 and 25 per cent.
The report further revealed that 62 per cent of surveyed female entrepreneurs said a Moniepoint loan represented the first formal business credit they had ever received.
According to the company, this increased allocation reflects both its commitment to financial inclusion and borrower performance. Internal lending data showed that women entrepreneurs recorded default rates approximately 2.5 times lower than their male counterparts, strengthening the commercial rationale for expanding credit access to female-owned enterprises.
Beyond lending, Moniepoint reported continued expansion of its digital payments ecosystem. Customers using its USSD banking platform completed transactions exceeding $170 million, while its point-of-sale network operated across all 774 Local Government Areas in Nigeria, supporting payment services for approximately 100 million people.
Customer surveys cited in the report indicated that 83 per cent of users experienced improvements in their quality of life, while 85 per cent expressed greater confidence in achieving their financial goals after adopting the company’s financial services.
Commenting on the report, Tosin Eniolorunda, Group Chief Executive Officer of Moniepoint, said the company remains focused on building financial infrastructure that expands access to credit, payments and business tools across Africa.
The company also highlighted its broader corporate growth, noting that it now employs more than 3,300 people across 10 countries and has been recognised among TIME’s 100 Most Influential Companies and the Financial Times’ Africa’s Fastest Growing Companies.
BrandiQ Analysis
Moniepoint’s performance illustrates one of the most important structural transformations occurring within African finance: the migration from asset-based lending to data-driven lending. Traditional commercial banks have historically struggled to serve micro and small enterprises because many businesses operate informally, possess limited collateral and lack extensive financial documentation. Digital financial platforms are increasingly overcoming these constraints by analysing transactional behaviour, cash flows and payment histories to generate alternative measures of creditworthiness. This approach enables lenders to assess business performance more dynamically while extending formal finance to previously excluded entrepreneurs.
The report also reinforces the growing importance of embedded finance. Lending no longer operates as an isolated banking product. Instead, it is becoming integrated into broader digital ecosystems that combine payments, business accounts, merchant services and financial management tools. Because Moniepoint already processes business transactions through its payment infrastructure, it possesses richer operational data than many conventional lenders. This creates a competitive advantage by reducing information asymmetry, improving risk assessment and accelerating loan approvals. Increasingly, financial platforms that control transaction data may prove more effective lenders than institutions relying solely on conventional credit assessment methods.
The expansion of lending to women entrepreneurs deserves particular attention. Access to finance has historically represented one of the greatest obstacles facing female-owned enterprises across Africa. Moniepoint’s finding that women now account for 36 per cent of its loan portfolio—well above prevailing industry averages—suggests that technology-driven credit assessment may reduce some of the structural biases associated with collateral-based lending. Equally significant is the commercial evidence underpinning this strategy. Lower default rates among women borrowers indicate that expanding financial inclusion can simultaneously generate positive social outcomes and strengthen portfolio performance. This challenges the longstanding assumption that inclusive lending necessarily requires sacrificing commercial returns.
Another notable implication concerns the relationship between financial inclusion and economic productivity. The reported increase in transaction values among borrowing businesses suggests that access to working capital enables enterprises to purchase inventory, expand operations, improve cash-flow management and respond more effectively to market demand. In economies where MSMEs account for the overwhelming majority of businesses and employment, improved access to finance has multiplier effects extending beyond individual enterprises into broader economic growth, job creation and household welfare.
The report also highlights the increasing convergence between fintech and national development infrastructure. Moniepoint’s presence across all 774 Local Government Areas demonstrates how private-sector digital platforms are becoming essential components of Nigeria’s financial architecture. Their contribution extends beyond commercial activity to supporting financial inclusion, expanding digital payments, strengthening tax visibility and accelerating participation in the formal economy. As governments pursue digital transformation agendas, partnerships between regulators and fintech firms are likely to become increasingly important in shaping future financial ecosystems.
What This Means for Nigeria
Nigeria faces one of Africa’s largest SME financing gaps, with millions of businesses continuing to struggle to access affordable formal credit. While traditional banks remain indispensable to the financial system, fintech companies are demonstrating that alternative data and digital technologies can substantially broaden access to capital without abandoning prudent risk management.
The findings also carry important implications for public policy. As digital payments become more widespread, transaction histories increasingly provide entrepreneurs with financial identities that can unlock access to credit, insurance and other financial services. This reinforces the importance of expanding digital payment infrastructure, promoting financial literacy and developing regulatory frameworks that encourage responsible innovation while protecting consumers.
For women entrepreneurs in particular, data-driven lending models offer an opportunity to address longstanding financing inequalities by evaluating business performance rather than collateral ownership. If replicated across the wider financial sector, this approach could contribute meaningfully to inclusive economic growth and greater participation of women in Nigeria’s entrepreneurial ecosystem.
BrandiQ Verdict
Moniepoint’s 2025 Impact Report demonstrates that the future of financial inclusion lies not merely in expanding banking services but in fundamentally rethinking how credit is assessed and delivered. By replacing collateral-intensive lending with transaction-based intelligence, fintech companies are opening new pathways to finance for millions of previously underserved entrepreneurs. The company’s strong performance suggests that inclusive finance and commercial sustainability are no longer competing objectives but increasingly reinforce one another. As Africa’s digital economy matures, institutions that combine financial technology, data analytics and responsible lending are likely to play a central role in unlocking the continent’s entrepreneurial potential and driving long-term economic transformation.
