Moni rebrands as Rank, acquires AjoMoney and Zazzau

By Vriti Gothi

Moni has rebranded as Rank, marking a significant evolution in its mission to deliver comprehensive, community-driven financial solutions across Africa. The transformation is reinforced by the company’s acquisition of AjoMoney and Zazzau Microfinance Bank, a licensed institution providing deposits, savings, and small business loans. Together, these strategic moves establish Rank as a pioneer in building a technology-enabled, community-powered financial ecosystem designed to make collective prosperity achievable for all. Zazzau Microfinance Bank will now operate under the new name Rank Microfinance Bank.

For generations, African communities have relied on mutual systems of financial cooperation, from local savings clubs and traders’ associations to informal networks such as Ajo, tontines, and rotating savings and credit associations. These systems, founded on trust and social bonds, have long enabled individuals to save and lend collectively. Yet, despite their enduring value, they have remained largely informal and manual, limiting their scalability and ability to generate returns. Rank is reimagining this legacy by digitising community finance, creating a seamless and regulated platform that transforms cooperative saving into a sustainable pathway for wealth creation.

Launching first in Nigeria, Rank’s new ecosystem introduces an enhanced, high-yield group savings solution that redefines how individuals and businesses collaborate to achieve financial growth. In its pilot phase, Rank enabled 10,000 business owners and individuals from trusted networks such as traders’ associations, market unions, and neighbourhood cooperatives to save as little as $100. These pooled savings were backed by treasury bills and money market instruments, generating returns of up to 23%—a marked improvement over traditional bank rates. The pilot resulted in ₦16 billion ($11.25 million) in total payouts, demonstrating the viability and demand for community-powered wealth creation at scale.

The integration of AjoMoney and Rank Microfinance Bank immediately expands Rank’s operational and regulatory capabilities. AjoMoney brings deep experience in delivering digitalised community savings, while Rank Microfinance Bank strengthens the company’s compliance foundation and regulatory reach, connecting it to NIBSS and enabling it to offer a complete suite of regulated financial services across Nigeria. The leadership teams from both AjoMoney and Zazzau Microfinance Bank have joined Rank, combining their expertise in grassroots finance, compliance, and digital innovation to accelerate the delivery of Rank’s vision. In the near term, customers will benefit from improved onboarding, greater security, and expanded savings options. Over time, Rank will provide a fully integrated platform where users can save, borrow, invest, and grow their wealth seamlessly within trusted communities.