About 10,000 micro, small and medium-scale enterprises (MSMEs) will be empowered with cutting-edge digital and financial solutions to enable them to achieve sustainable growth and thrive in the digital economy.
This empowerment is coming through the collaboration among Mastercard, Alerzo ( a Nigerian B2B e-commerce company) and the USAID-funded e-Trade Alliance.
Checks showed that despite Nigeria’s progress in digital technology adoption, MSMEs face significant challenges, including complex supply chains, reliance on manual, error-prone inventory management and limited access to essential financial services.
However, this collaboration addresses these obstacles with user-friendly digital and financial solutions tailored to local MSMEs, such as Alerzoshop, Alerzo’s digital B2B marketplace; and Veedez, a comprehensive digital payment and business management tool, complemented by training initiatives to boost financial and digital literacy.
According to the Country Manager, West Africa, Mastercard, Folasade Femi-Lawal, “Mastercard is committed to driving financial inclusion and empowering small businesses worldwide. Our collaboration with Alerzo and the e-Trade Alliance in Nigeria provides MSMEs the digital tools and resources needed to thrive in today’s digital economy.
Accordingly, Alerzoshop enables MSMEs to stock up using their phones, enhancing their access to suppliers and facilitating secure, efficient and seamless digital payments via Mastercard’s global network. They stressed that Veedez is redefining how small businesses operate by helping them digitize processes, unlock new sales opportunities, and increase revenue, with micro-lending services providing vital financial support.
CEO, Alerzo Limited, Adewale Opaleye, added: “We are delighted to collaborate with Mastercard, and e-Trade Alliance for this digital transformation project in Nigeria. As the leading partner of choice for informal retailers and MSMEs, we recognize our responsibility to introduce digital retail solutions that will strengthen the economy and facilitate the adoption of a cashless society for the collective benefit of all. This initiative is part of our commitment to connecting millions of MSMEs in Nigeria to a world where digital connectivity is integrated into their businesses, making them more profitable and fulfilling.”
They explained that this collaboration aimed to deliver targeted financial and digital training to 10,000 MSMEs across Nigeria by year-end. Introducing innovative, cost-effective payment solutions like Mastercard’s Tap to Pay, QR codes, Pay-By-Link, and Payment Gateway Services will accelerate digital payment adoption. Upgrades to Alerzo’s infrastructure will enable seamless payment processing through the Mastercard network, benefitting MSMEs immediately upon signing up for Veedez, available on the App Store and Google Play.
Senior Manager, Nextrade Group, e-Trade Alliance implementing partner, Michael Poor, said, “This public-private sector collaboration underscores our dedication to fostering inclusive economic growth through digital transformation. By combining our expertise in skills development for e-commerce, inclusive trade, and access to finance, we aim to support Nigerian MSMEs in overcoming the challenges they face in the digital economy. Together with Alerzo and Mastercard, we are committed to empowering small businesses with the knowledge and tools they need to succeed to power more inclusive, sustainable growth in Nigeria.”
This collaboration underscored the commitment of all parties to empower Nigerian MSMEs by furthering the digital transformation of the economy and enhancing financial inclusion. It supports Mastercard’s goal of bringing one billion people and 50 million micro and small businesses into the digital economy by 2025 and deepening collaborations with international institutions to drive more sustainable, inclusive economic development.
