Moniepoint Inc. says it has acquired Orda Africa, a Nigeria-based cloud software provider for restaurants.
The acquisition signals the firm’s move to deepen its presence in Africa’s fast-growing food services sector, estimated at $50 billion.
In a statement on Monday, Moniepoint said Orda will be integrated into its Moniebook platform, the company’s all-in-one point-of-sale (POS) and business management solution.
The financial technology firm (fintech) said the acquisition positions it to expand its offerings to food businesses by combining payments, operations, and access to credit within a single platform.
Moniepoint said the move comes amid rapid growth in Africa’s food service industry, with Nigeria’s market projected to reach $19.31 billion by 2030, growing at an annual rate of 11.73 percent.
Commenting on the development, Tosin Eniolorunda, co-founder and chief executive officer (CEO) of Moniepoint, said the deal is aimed at unlocking the potential of one of Africa’s most critical informal sectors.
The food industry isn’t just about feeding people, it’s a major source of jobs and daily survival for many Africans,” Eniolorunda said.
Data has shown us that Africa’s restaurant sector is one of the continent’s most dynamic economic engines, yet the majority of food businesses still operate with manual processes and fragmented tools.
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.”
Following the acquisition, the company said Orda’s capabilities will be combined with Moniepoint’s financial infrastructure to enable food businesses to access payments, bookkeeping, and working capital solutions.
“Founded in 2020, Orda provides software tools that help small and independent restaurants manage orders, track inventory, and streamline operations,” Moniepoint added.
Guy Futi, CEO of Orda, said the integration will expand opportunities for its customers.
“Orda has found the perfect home in Moniepoint,” Futi said.
“We have spent years building deep expertise in restaurant operations, but we have always known that to truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure.
“For our customers, we are assuring a smooth transition with no disruption… what changes is your access to opportunities.”
In the statement, Moniepoint also said the combined platform will enable food entrepreneurs, from small roadside vendors to large restaurants, to manage operations and finances more efficiently through a single integrated system.
