Add Row
Add Element
Add Element
  • Channel
    • VIRTUAL EVENTS BILLBOARD
    • CONFERENCES & CONVENTIONS
  • Featured
    • THE VORTEX VISIONARY VIEW
    • African Changemakers
    • Future of Africa
    • Sustainable Africa
    • Women Vortex
    • Vortex Global Pulse
    • Habitat Trails
    • InterContinental Issues
    • Intracontinental Currents
    • #FUTURE FEATURE INVITATION
June 26.2025
2 Minutes Read

Unlocking Africa's Fintech Potential: Insights from Mono's CEO Abdulhamid Hassan

Stylized monochrome portrait representing AI in Africa amidst fintech elements.


Mono: Shaping Africa’s Fintech Future with Abdulhamid Hassan

In a world that thrives on innovation, speaking to Abdulhamid Hassan, the founder of Mono, is akin to diving into the heart of Africa’s fintech revolution. He believes that fintech applications should seamlessly integrate Mono’s functionalities, epitomizing the ambition of a new generation of tech entrepreneurs across the continent. "If I open a fintech app today and do not see Mono, I feel like we have failed," he asserts. Such fervor reflects not only his personal journey but also the aspirations of countless innovators in the African tech landscape.

Back to the Roots: The Journey of Abdulhamid Hassan

Abdulhamid’s journey from Ijebu Ode, Nigeria, to the tech hubs of the world is anything but ordinary. He credits his entrepreneurial parents for teaching him about the importance of quality and user experience. This foundational knowledge has driven him toward creating Mono, a company that not only provides essential banking solutions but is also a beacon of hope for emerging startups in the region. As fintech struggles with fluctuating investment in Africa, Mono stands resilient, grounded in Hassan's philosophy: "don’t give up. don’t die."

The Rise of Owo: Redefining Payments in Nigeria

In his quest for innovation, Hassan has introduced Owo, a groundbreaking solution for making payments through WhatsApp. Owo has already processed significant amounts of money before its official launch, indicating a promising future in how Nigerians engage in financial transactions. Abdulhamid envisions that in five years, Owo will become a dominant force in consumer spending in Nigeria. This product exemplifies the rapid adaptation of traditional methods into cutting-edge technology, a common theme in Africa’s evolving fintech landscape.

Fintech in Africa: A Growing Ecosystem

Given the current climate, where venture capital investments in African startups are dwindling, Mono’s success is a crucial narrative. It emphasizes how African tech entrepreneurs are innovating in challenging environments. As more startups emerge, the interconnectedness between these enterprises fosters a robust ecosystem essential for sustaining long-term growth. The flourishing collaboration demonstrates the unique potential of digital transformation Africa.

Looking Ahead: The Future of Fintech in Africa

The adaptability and resilience of entrepreneurs like Hassan suggest a bright corridor for the future of fintech in Africa. Innovations such as digital payment solutions not only enhance efficiency but also empower communities by enhancing financial inclusion. The digital payment revolution is a vital element in shaping the future of work in Africa, ultimately aligning with broader trends towards automation in Africa.

As the fintech landscape continues to evolve, keeping an eye on companies like Mono can provide key insights into the directions emerging technologies are taking, alongside how they can foster the next wave of Africa’s economic development.

For anyone interested in Africa's booming startup scene, understanding Mono’s role could be imperative as we explore the digitization of economies. With every app that incorporates Mono, we inch closer to a fully integrated digital future for Africa.


Tech & AI Disruptors

8 Views

0 Comments

Write A Comment

*
*
Related Posts All Posts

Inside Lagos' Gig Economy: The Life of Food Delivery Riders

Update Riding the Wave of Lagos' Gig Economy In the bustling streets of Lagos, a revolution is underway, fueled by the rapid rise of food delivery apps like Chowdeck. For 33-year-old Goodnews, each day is intertwined with uncertainty and opportunity as he navigates busy streets on his scooter. What was initially a shot at a dream job in writing has turned into a relentless pursuit of daily bonuses as he races against the clock to fulfill customer orders. The Reality of Gig Work In a city where traffic can be unforgiving and the weather unpredictable, Goodnews shares an honest sentiment: "Every order is a gamble against the weather, the roads, and the unexpected challenges that come with the job." Despite the risks, the flexibility of gig work attracts many young professionals, giving them control over their employment. This flexibility, however, comes at a cost. The absence of job security exposes riders like Goodnews to exploitation, as they have to grapple with the demands of an increasingly competitive delivery market, which lacks regulation and safety measures. The Voice of the Riders Reporting from the vibrant neighborhood of Yaba, journalist Mo Isu spent time with Goodnews and a cohort of Chowdeck riders, revealing a collective story of resilience and ambition. Each rider's ambition serves as a reminder of how gig work provides crucial lifelines in the absence of more stable job opportunities. Yet, it also raises pressing questions about fairness and working conditions. As Ngozi Chukwu from TechCabal highlights, Chowdeck is seen not just as a service but as an essential productivity tool for young professionals aiming to balance work and life in an ever-increasingly demanding environment. Charting the Future of Work in Africa As Nigeria continues to lead the charge in Africa's tech transformation, the rise of platforms like Chowdeck showcases how the gig economy is reshaping job landscapes. In a nation where traditional jobs are hard to come by, delivery riders have emerged as both a necessity and a symbol of adaptability for countless individuals. However, the need for regulation and ethical standards in gig work is becoming more critical as app-based job platforms expand, making conscious consumerism and awareness of worker rights essential for a truly equitable future. Goodnews dreams of one day transitioning to a career that fulfills his passion for writing. His story encapsulates both the struggles and aspirations of a new generation navigating Lagos' bustling streets, highlighting the need for improved conditions in the gig economy. As gig work becomes increasingly prevalent, it’s crucial for stakeholders to advocate for ethical practices, ensuring that the promise of convenience does not overshadow the rights and welfare of those who provide it.

Discover How HabariPay's 12-Fold Profit Growth Is Reshaping Fintech in Africa

Update HabariPay’s Impressive Growth Story In a remarkable leap, HabariPay, the fintech startup under Guaranty Trust Holding Company (GTCO), has reported a staggering 12-fold profit surge, reaching ₦4.02 billion ($2.70 million) in the first half of 2025. Such phenomenal growth is rare and positions HabariPay as Nigeria’s most profitable bank-backed fintech, notably outperforming Access Bank’s Hydrogen and Stanbic IBTC’s Zest. Understanding Digital Payments in Africa Founded as a super-app in 2018, HabariPay transitioned to focus on digital payments in 2022. The platform's extensive services include a payment gateway, e-commerce tools, and various transaction methods, including virtual accounts and USSD. This versatility has positioned HabariPay to tap into Nigeria's booming digital payments landscape, which is being driven by an increasing mobile phone user base and a growing reliance on online financial transactions. HabariPay’s Competitive Edge Despite its impressive growth, HabariPay still represents a small fraction of GTCO's total profits. However, its trajectory indicates a promising future fueled by the rise of airtime vending and merchant services, enabling it to compete against larger players like Flutterwave and Paystack. The focus on enhancing merchant services with seamless mobile transactions may further bolster its market position. Future Trends for Fintech in Africa CEO Eduofon Japhet is optimistic about the company’s expansion potential. As mobile transfers evolve, the goal is to streamline these payments further, making them as user-friendly and accessible as traditional card transactions. A concerted push towards increasing Point of Sale (PoS) terminals supports broader access to their services across Nigeria’s growing merchant network. Implications for Investors For investors in the fintech space, HabariPay’s expansion signifies a vital trend in Africa’s digital finance sector. With automation trends accelerating alongside increasing demands for digital financial services, HabariPay stands as a firm example of the transformative potential within African startups. Engaging with such a rapidly growing entity may yield significant returns as its user base expands further into different regions.

Lengo AI: Enhancing Visibility for Nigeria's Informal Shops with AI

Update Unlocking the Hidden Market: Lengo AI’s Mission to Transform Retail in Nigeria In the vibrant corridors of Lagos, nearly one million informal shops brim with an array of household essentials, yet they remain invisible to major consumer giants. These local retailers are the backbone of many neighborhoods, but for international brands like Coca-Cola and Unilever, mapping them has proved challenging. Why does this matter? Informal shops can account for a staggering 90% of food sales in Sub-Saharan Africa. However, the lack of visibility into these markets complicates marketing strategies and supply chain logistics. Artificial Intelligence Reshaping Traditional Business Models Lengo, a pioneering start-up based in Lagos, is on a mission to bridge this gap using artificial intelligence. Founded in 2022, Lengo is part of the Google for Startups Accelerator: AI First program, aiming to provide much-needed market insights for fast-moving consumer goods (FMCG) companies in Nigeria and beyond. According to Max Smith, CEO of Lengo, the existing data is often scarce and unreliable, leading to misguided business decisions. Lengo aims to directly address these challenges by leveraging cutting-edge AI technology. A New Approach to Retail Visibility Initially rooted in Senegal, Lengo identified a goldmine of informal retailers that went unrecorded by established databases. With innovative tracking methods that blend AI and digital tools like Google Street View, Lengo efficiently recognizes and maps these stores. Their sophisticated system not only identifies shop types but also assists in onboarding shop owners through platforms like WhatsApp, making the process seamless and efficient. Growing Networks Through Local Engagement By tapping into existing networks, Lengo encourages shopkeepers to connect with peers, integrating community-driven growth into their model. This strategy is proving fruitful; referrals from shopkeepers are now accounting for 30% of Lengo’s growth. As these informal shops are mapped and engaged, they become integral to the data ecosystem Lengo is building. The Bigger Picture: A Call for More Data Integration Large FMCGs still fail to reach vast swaths of Nigeria’s informal sector. Lengo’s insights highlight this staggering discrepancy and signal an urgent need for greater integration and understanding of informal retail environments. Without precise data, brands risk losing valuable insights into market demand and distribution channels. Ultimately, Lengo AI’s efforts are sparking a data-driven transformation in Nigeria’s retail landscape. As technology evolves, so does the opportunity for entrepreneurs and brands alike. The future is bright for those harnessing the power of artificial intelligence and data in Africa. It is essential for stakeholders to recognize this growth trajectory and invest in tech solutions like Lengo while supporting local economies — it’s a win-win scenario. Keep an eye on Lengo AI as it leads the charge in illuminating the Nigerian retail sector!

Terms of Service

Privacy Policy

Core Modal Title

Sorry, no results found

You Might Find These Articles Interesting

T
Please Check Your Email
We Will Be Following Up Shortly
*
*
*