The Nigerian Capital Development Fund’s (NCDF) investment arm, NCDF Investment Management Plc, has announced the launch of Konto Financial Group Plc (KontoMoney) to address the slow pace of financial inclusion in Nigeria.
READ ALSO: NCDF, foreign partners commit $150 million to transform Agonrin Sea Beach, Badagry
With an estimated N4.3 trillion circulating outside the banking system and around 40 million Nigerian adults excluded from formal financial services, KontoMoney aims to bridge this gap through innovative and accessible financial solutions.
Speaking on the initiative, Hareter Babatunde Oralusi, Executive Chairman of NCDF, said, “Our mission is clear: to empower communities by delivering financial tools that enable individuals and businesses to thrive.”
KontoMoney combines advanced digital infrastructure with an extensive network of local agents to provide essential financial tools in underserved and low-income communities. The initiative also focuses on creating employment opportunities by recruiting and training young professionals to operate KontoMoney Points-localized hubs designed to deliver financial services in rural and semi-urban areas.
The network includes 5,000 agents nationwide, comprehensive training programs, and ongoing support through dedicated technology desks and online resources.
KontoMoney aims to rebuild trust in financial institutions, reduce cash held outside the banking system, and drive economic empowerment across Nigeria.
The company invites stakeholders and communities to join its mission of making financial inclusion a fundamental right for all Nigerians.
