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Moniepoint Shuts MonieWorld After 14 Months, Exposing UK Remittance Unit Economics
Moniepoint has shut down its MonieWorld UK remittance service after 14 months, with new analysis confirming that difficult unit economics — not user demand — drove the decision. Multiple Nigerian fintech operators are reported to be pulling back from UK-Africa remittance corridors, exposing structural constraints on cross-border expansion strategies for the sector.
3 sources
- Priced Out of London: Why Nigeria’s Fintechs Are Abandoning UK Remittances · launchbaseafrica.com · T1
- Moniepoint shuts down MonieWorld after 14 months of UK remittances to focus on Africa · techtrendske.co.ke · T2
- Why a growing remittance business was not enough for Moniepoint · thecondia.com · T2