Moniepoint Launches Nigeria’s First AI Chatbot to Empower Informal Businesses
Moniepoint has launched “M”, Nigeria’s first AI-powered chatbot designed to support traders and small business owners with real-time insights, financial advice, and digital tools to grow their businesses.
In a bold step toward advancing Nigeria’s digital economy, Moniepoint Inc. has unveiled “M”, the country’s first artificial intelligence (AI) chatbot designed specifically to support informal business owners such as market traders, artisans, and small-scale entrepreneurs.
The launch, which took place on October 31, 2025, marks a major milestone in Moniepoint’s mission to help small businesses access smart digital tools that simplify operations and improve financial literacy.
According to Moniepoint, the new chatbot will act as a virtual business assistant, offering insights, personalized recommendations, and transaction support through natural, chat-based interactions.
Why Moniepoint Created the AI Chatbot
Nigeria’s informal economy makes up over 50% of the nation’s workforce, contributing significantly to GDP but often excluded from the benefits of advanced digital tools. Many traders and small business owners still rely on manual recordkeeping, lack access to structured business advice, and face barriers to financial inclusion.
Moniepoint’s AI chatbot “M” is designed to change that narrative.
“AI should not only serve big corporations,” said Tosin Eniolorunda, CEO of Moniepoint Inc. “With ‘M’, we’re bringing artificial intelligence to everyday people traders, artisans, and small business owners to help them better understand their finances and grow sustainably.”
How “M” Works
The chatbot operates within Moniepoint’s mobile and web ecosystem. Users can access it via the Moniepoint app or website and interact in English or Nigerian Pidgin, with additional local language support expected soon.
Key features include:
Real-time responses to questions about payments, transactions, and account balances
Personalized financial tips based on user activity
Business growth insights and reminders for bills, savings, and stock management
Instant access to customer support without waiting on human agents
The goal, Moniepoint says, is to simplify digital banking and make smart technology accessible to Nigeria’s informal sector.
AI Meets Financial Inclusion
Industry experts believe this move represents a major shift in how African fintechs are using AI. Rather than targeting elite or enterprise users, Moniepoint is developing AI for inclusion empowering small business owners who often lack digital literacy.
“This is an impressive innovation,” said Oluwatobi Adeshina, a Lagos-based fintech analyst. “If implemented successfully, it will bridge the gap between informal and formal businesses while showcasing how AI can serve human-centered needs in Africa.”
The chatbot’s insights could also help Moniepoint’s users track spending, forecast profits, and make smarter business decisions all through an easy-to-use chat interface.
What Comes Next
Moniepoint revealed that “M” is currently in beta phase, available to selected users for testing and feedback. A nationwide rollout is planned for November 2025, alongside new features such as voice assistance and offline SMS support for areas with poor internet connectivity.
The company also hinted at future expansion beyond Nigeria, starting with Ghana and Kenya in 2026, as part of its plan to make AI-driven business tools available across Africa.
Economic and Social Impact
Analysts say this development could reshape how Nigeria’s informal economy operates. By giving small entrepreneurs access to real-time business insights, Moniepoint’s chatbot could improve recordkeeping, transparency, and overall productivity.
The innovation also aligns with Nigeria’s Digital Economy Agenda, which seeks to increase financial inclusion and promote local AI adoption by 2030.
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