Mastercard Center for Inclusive Growth, MTN Group Fintech, and Arifu have joined forces to support one million small businesses in Côte d’Ivoire and Uganda with digital upskilling and access to digital financial services. The partnership, announced on Tuesday, aims to help small and medium-sized enterprises (SMEs) build resilience and foster growth through digital tools.
The initiative utilizes the MoMo Coach chatbot, which assists small businesses in digitizing their operations, enhancing financial literacy, and connecting to digital marketplaces. This program is part of Mastercard’s global initiative, Mastercard Strive, which aims to empower 18 million small businesses worldwide with the essential digital tools, financial resources, and business networks needed for success.
Despite the global acceleration of digital adoption during the pandemic, small businesses in sub-Saharan Africa still face significant challenges. As of December 2022, only 27.65% of SMEs in the region had adopted digital tools, up from 19.44% in 2020. Key barriers include skill gaps and limited access to financial services.
To address these challenges, the MoMo Coach provides free and accessible upskilling content through popular messaging platforms like WhatsApp, Facebook Messenger, and SMS. This content, developed by Caribou Digital, is already available in Kenya and Nigeria and is now expanding to Côte d’Ivoire and Uganda.
Subhashini Chandran, Senior Vice President of Social Impact for Asia Pacific, Europe, the Middle East, and Africa, stated, “Small businesses are vital to Africa’s growth, creating opportunities for a more resilient and inclusive economy. We are excited to support a partnership that equips almost one million small business owners with the digital skills they need to succeed.”
MoMo Coach, powered by Arifu’s Grasp Platform, delivers micro-learning experiences through mobile messaging. It is designed to provide entrepreneurs with actionable tips, helping them seize growth opportunities in the digital economy.
MTN Group Fintech CEO Serigne Dioum emphasized, “Empowering small businesses with digital skills is key to driving inclusive growth in Africa. Through MoMo Coach, we are helping entrepreneurs thrive, strengthening communities, and shaping the future of business across the continent.”
