Moniepoint Storms Nigeria’s $50bn Food Market with Orda Acquisition, Targets Restaurants and Vendors
- Moniepoint Inc. acquires Orda Africa to enhance its presence in Africa's food industry
- Integration aims to streamline operations for restaurant owners, providing an all-in-one management solution
- The acquisition targets a rapidly growing sector, empowering food entrepreneurs with improved access to digital tools
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Moniepoint Inc. has made a bold entry into Africa’s booming food industry with the acquisition of Orda Africa, a Nigerian cloud-based software provider for restaurants.
The deal marks a strategic shift for the fintech giant as it looks to deepen its footprint beyond payments and into one of the continent’s most vibrant economic sectors.
Source: Facebook
The move positions Moniepoint to tap into Africa’s rapidly expanding food services market, estimated at $50 billion, while strengthening its all-in-one business ecosystem for small and medium-sized enterprises.
Integrating Orda into Moniebook platform
In a statement released on Monday, March 23, 2026, Moniepoint confirmed that Orda will be integrated into its Moniebook platform, a comprehensive point-of-sale and business management solution.
With this integration, food businesses will be able to manage payments, track operations, handle bookkeeping, and access credit facilities within a single system.
The company, which gained the unicorn badge, said the goal is to eliminate the inefficiencies caused by fragmented tools and manual processes that still dominate the sector.
By combining Orda’s operational software with its financial infrastructure, Moniepoint is aiming to deliver a seamless experience for restaurant owners and food vendors across Nigeria and beyond.
Targeting a fast-growing industry
The acquisition comes at a time when Africa’s food services sector is experiencing rapid growth. In Nigeria alone, the market is projected to reach $19.31 billion by 2030, expanding at an annual growth rate of 11.73 per cent.
Moniepoint believes this growth presents a significant opportunity to empower food entrepreneurs, many of whom operate in the informal sector with limited access to digital tools and financing, according to a report by TheCable.
“A critical sector for livelihoods” - CEO
Tosin Eniolorunda, co-founder and CEO of Moniepoint, described the acquisition as a step toward unlocking the full potential of the food industry.
“The food industry isn’t just about feeding people, it’s a major source of jobs and daily survival for many Africans,” he said.
He noted that while the restaurant sector is one of Africa’s most dynamic economic engines, many businesses still rely on outdated systems.
“By bringing Orda into Moniepoint, we are giving restaurant owners what they deserve: one simple platform that handles everything from managing their kitchen to growing their business,” Eniolorunda added.
Orda sees new growth opportunities
Founded in 2020, Orda has built a reputation for providing software tools that help restaurants manage orders, monitor inventory, and streamline day-to-day operations.
Its CEO, Guy Futi, said the acquisition represents a new chapter for the company and its customers.
“Orda has found the perfect home in Moniepoint,” he said. “We have always known that to truly transform the industry, we needed to connect our operational expertise with strong financial infrastructure.”
Futi assured customers of a smooth transition, emphasising that the integration would unlock new opportunities without disrupting existing services.
Empowering food entrepreneurs at Scale
Moniepoint said the combined platform will cater to a wide range of food businesses, from small roadside vendors to large restaurant chains.
By offering an integrated system that unifies operations and finance, the company aims to boost efficiency, improve access to capital, and ultimately help food entrepreneurs scale their businesses more sustainably.
Source: Getty Images
With this acquisition, Moniepoint is not just entering the food industry; it is positioning itself as a key player in shaping its digital future.
Moniepoint denies arresting customers
Legit.ng earlier reported that Moniepoint Microfinance Bank has responded to widespread reports alleging that some of its customers were arrested over complaints about its services, insisting that the matter before the court is unrelated to customer criticism.
At a media briefing held on Wednesday, March 18, 2026, in Ikeja, attended by Legit.ng, the company firmly denied any involvement in the arrest or detention of individuals for expressing dissatisfaction with its operations.
Instead, Moniepoint clarified that the ongoing legal case centres on what it described as a coordinated digital campaign allegedly aimed at damaging its reputation and undermining public confidence in the financial system.
Source: Legit.ng
