In a milestone for Nigeria’s fintech and inclusion agenda, Moniepoint Inc. has introduced Africa’s first AI-powered chatbot aimed at demystifying the informal economy. The launch underscores a growing push to bring clarity and accessibility to a sector that powers a large swath of daily commerce, from street stalls to micro-enterprises.
Government endorsement signals momentum
The rollout received official commendation as part of a broader collaboration with the federal government to strengthen financial access for informal workers. At the Abuja unveiling of the second edition of Nigeria’s Informal Economy Report, government representatives framed the project as a practical bridge between policy and everyday business. The message from officials stressed that the informal sector remains a critical driver of resilience and innovation across the nation, and that data-driven tools can sharpen policy responses.
A strategic move for financial inclusion
During remarks delivered on behalf of the Vice President, a senior government official highlighted the importance of understanding the informal economy’s realities. The initiative, he noted, provides a clearer lens on challenges such as access to finance, regulatory navigation, and reliable business guidance. The administration’s stance reflects a commitment to turning informal activity into formal opportunities, contributing to broader economic inclusion.
Technology that translates complexity into clarity
The chatbot leverages state-of-the-art large language model technology to converse naturally with users. Its goal is to translate complex topics—licensing, taxation, and compliance—into plain language, empowering small traders, artisans, and emerging digital entrepreneurs to make informed choices without bureaucratic friction.
Looking ahead: potential influence and expansion
Experts predict that this AI tool could become a blueprint for supporting informal economies across Africa. If successful, Moniepoint envisions expanding the model to additional markets and sectors, reinforcing the company’s broader mission to enable inclusive growth through digital finance.
