Moniepoint is restructuring its Engineering and Product functions as the Nigerian fintech seeks to improve operational efficiency and accelerate expansion into new markets, a move that will render some existing roles redundant.
In a holding statement, the company said the restructuring would introduce a platform-based operating model made up of smaller, focused product area teams responsible for developing and managing their products from end to end.
The new structure will also introduce platform architects, who will design and oversee the technical systems underpinning each platform group. The roles will form part of Moniepoint’s broader Product Operating Model and architectural governance, which guide its technical foundations, platform capabilities and solutions.
“The new structure requires fewer roles in some areas, while creating new ones, including platform architects who will design and oversee the systems each platform group builds on,” the company said.
Moniepoint said it would consider employees whose roles become redundant for available positions elsewhere in the business. A redundancy consultation process would be initiated where no suitable alternative role is identified.
The restructuring follows a decade of growth in which Moniepoint expanded from a single product into a group of financial services businesses. The company said this growth was built on proprietary technology developed in house and designed for the scale and realities of African commerce.
Under the new model, smaller teams will have greater autonomy and clearer accountability. Moniepoint expects the changes to accelerate product development, improve operational reliability, deliver more consistent services to its growing customer base and support expansion into new markets.
The changes come as the fintech expands beyond its established Nigerian operations and grows its presence in Kenya.
Moniepoint provides payments, banking, credit and business management services to businesses and individuals. Its platform allows merchants to accept payments, manage cash flow and access business growth tools, while providing individuals with everyday banking services.
The company said its agent network spans all 774 local government areas in Nigeria and that its subsidiaries process more than $400 billion in annual digital payment transaction value.
Moniepoint did not disclose how many employees or positions would be affected by the restructuring.
The company said Engineering and Product remain central to its operations, expressing gratitude to employees for their contributions and confidence that the new structure would strengthen its business for customers, employees and partners.
Details later…