Moniepoint Inc., a Nigerian fintech company, has acquired restaurant management startup Orda Africa as part of its strategy to expand into Africa’s rapidly growing food service industry, which is valued at an estimated $50 billion across the continent.
According to businessday, the deal integrates Orda’s cloud-based restaurant software into Moniepoint’s business management platform, Moniebook, allowing food vendors and restaurants to manage orders, payments, inventory and accounting from a single system.
The acquisition highlights a wider shift among African fintech firms that are moving beyond payments to offer operational tools and credit to small businesses, especially those in the informal economy.
Tosin Eniolorunda, Moniepoint co-founder and group CEO, said the food sector represents one of the most active but underserved parts of Africa’s economy.
“The food industry is a major source of jobs and daily survival for many Africans,” Eniolorunda said, adding that many businesses still rely on manual processes and disconnected tools.
The move reflects a growing competition among financial technology firms to control the digital infrastructure behind small businesses, particularly restaurants, which generate frequent transactions and require working capital.
Africa’s food service market is expanding quickly as urban populations grow and more consumers eat outside the home. Nigeria alone is projected to see its restaurant market reach about $19.3 billion by 2030, growing at an annual rate of more than 11 percent.
Founded in 2020, Orda built software designed for small and independent restaurants that previously operated without digital systems. The company’s tools help businesses track orders, manage kitchen workflows and monitor stock levels.
Guy Futi, Orda CEO, said joining Moniepoint would allow the company to connect operational data from restaurants with financial services such as payments and credit.
“To truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure,” Futi said, adding that customers would continue to use the platform while gaining access to new services.
Moniepoint, founded in 2015 by Eniolorunda and Felix Ike, has grown rapidly in Nigeria’s fintech sector. The company says it serves more than 20 million businesses and individuals and processes over $250 billion in digital payment transactions annually.
The company is one of the country’s largest merchant acquirers, powering a significant share of point-of-sale transactions across Nigeria.
