In a major leap for Nigeria’s fintech and inclusion drive, Moniepoint Inc. has launched Africa’s first AI-powered chatbot designed to simplify the complex realities of the informal economy. The innovation goes beyond technology and reflects a deep commitment to making financial knowledge and access more inclusive, especially for those powering everyday commerce—from market traders and artisans to small-scale entrepreneurs.
The chatbot’s introduction underscores a national effort to bridge the gap between the formal financial system and the millions of Nigerians who sustain the informal economy. By transforming how information is shared and understood, Moniepoint is placing itself at the center of a conversation about equity, access, and digital growth.
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The federal government’s support for the initiative signals a new era of public-private collaboration in financial inclusion. During the Abuja unveiling of the second edition of Nigeria’s Informal Economy Report, officials praised Moniepoint’s work as a practical bridge between policy and real-world business. They emphasized that the informal sector remains one of Nigeria’s strongest engines of resilience and innovation, and that data-driven tools like this chatbot can help policymakers design smarter solutions.
Representing the Vice President at the event, a senior government official stressed that true inclusion begins with understanding. The chatbot, he explained, offers a clearer look at barriers faced by informal workers, including access to credit, navigating regulation, and compliance. By turning these challenges into insights, Moniepoint’s technology is converting informal activity into formal opportunity, helping small business owners and digital entrepreneurs find their footing in a fast-changing economy.
At the heart of Moniepoint’s chatbot is advanced language model technology that enables users to have natural, human-like conversations. Instead of confusing them with financial jargon, the chatbot explains complex issues such as licensing, taxation, registration, and record-keeping in plain, practical terms. For millions of small business owners operating outside traditional banking systems, this could mean the difference between struggling and scaling up.
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Experts believe this innovation could become a model for supporting informal sectors across Africa. If successful, Moniepoint plans to expand the chatbot to new regions and industries, reinforcing its goal to empower communities through accessible digital finance.
In a country where more than half the workforce belongs to the informal economy, Moniepoint’s AI chatbot is not just a technological milestone but a step toward inclusive growth and empowerment—a future where technology amplifies human potential rather than replacing it.
