Ahmed Momoh Sani, CEO of Mehtic Technology has outlined the problems with establishing and running a micro finance and fintech in Nigeria, adding that beaucracy plays a major role.
According to him, blockchain holds promise as a tool for expanding access to financial services and driving economic empowerment.
“Blockchain has the potential to democratize access to finance. By eliminating intermediaries and providing secure, transparent transactions, blockchain can empower individuals and businesses, particularly SMEs and those underserved by traditional banking systems thereby driving economic growth, creating jobs, and promoting innovation.”
Ahmed’s journey from launching Ahmed Tech Integrated Service in 2018, providing services like CCTV installation and web development, to co-founding Mehtic Technology in 2022, epitomizes his evolution in the tech landscape. His collaboration with microfinance banks and a mobile money institution further enriched his expertise.
“Mehtic Technology’s product, Bank Plus, offers banking as a service to small businesses, including microfinance banks, cooperatives, and other financial institutions. Our technology enables these institutions to thrive globally while maintaining a physical presence in a single location. So far, we have onboarded three microfinance banks, including Oredegbe Microfinance in Ondo and Eleluji Microfinance Bank,” he notes.
Another standout innovation from Mehtic Technology is MehticPay, a blockchain-powered platform streamlining digital payments. With user-friendly features like mobile recharge top-ups, utility payments, and dollar savings options, MehticPay has garnered a substantial customer base exceeding 10,000 users. Ahmed envisions a future where blockchain and fintech catalyze employment growth in Nigeria. “Blockchain has created opportunities for engineers, developers, and cybersecurity experts. MehticPay is built on blockchain technology, leveraging the Web3 space to offer a digital USD wallet for our users to save in dollars. This feature also allows us to receive USD directly from anywhere in the world using blockchain technology. This is essentially what MeticPay offers today,” he notes. “This technology not only transforms finance but also fuels job creation.”
