Joy Agwunobi
Mastercard, in collaboration with Nigerian B2B e-commerce platform Alerzo and the USAID-funded e-Trade Alliance, has launched a transformative initiative aimed at accelerating the digitalisation of micro, small, and medium enterprises (MSMEs) in Nigeria.
This effort seeks to empower over 10,000 small businesses by the end of the year, fostering financial inclusion and sustainable economic growth.
At the core of this partnership are cutting-edge digital solutions designed to tackle challenges faced by Nigerian MSMEs. These include Alerzoshop, a digital B2B marketplace that simplifies supply chain management, and Veedez, a tool for seamless digital payments and business management. These innovations are complemented by Mastercard’s advanced payment solutions, such as Tap to Pay, QR codes, and Payment Gateway Services, which collectively address issues like complex supply chains, manual inventory processes, and limited access to financial services.
The initiative aligns with Mastercard’s global mission to integrate one billion individuals and 50 million small businesses into the digital economy by 2025. Through Alerzoshop, MSMEs can streamline their procurement processes using mobile devices, while Veedez enables small businesses to digitise operations, unlock new sales opportunities, and access vital micro-lending services to boost revenue
The partnership goes beyond technology by providing financial and digital training to equip small businesses with the tools needed to process payments securely through Mastercard’s network. This holistic approach aims to foster a more inclusive financial ecosystem, demonstrating the power of collaborative efforts in driving economic development in Nigeria.
Commenting on the partnership, Folasade Femi-Lawal emphasised Mastercard’s commitment to empowering small businesses globally. “Our collaboration with Alerzo and the e-Trade Alliance in Nigeria provides MSMEs with the digital tools and resources necessary to thrive in the modern economy. By enabling seamless digital payments and comprehensive business management solutions, we are advancing financial inclusion and innovation within the sector,” she said.
Adewale Opaleye, CEO of Alerzo Limited, 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 recognise 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.”
Michael Poor, senior manager at Nextrade Group, the implementing partner of the e-Trade Alliance, also underscored the significance of public-private collaboration. “By combining our expertise in skills development, inclusive trade, and access to finance, we aim to address the challenges Nigerian MSMEs face in the digital economy. Together with Alerzo and Mastercard, we are creating opportunities for small businesses to thrive, driving inclusive and sustainable growth,” he stated.
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