Mastercard has collaborated with Alerzo, a leading Nigerian B2B e-commerce company, and the USAID-funded e-Trade Alliance to accelerate the digital transformation and enhance financial inclusion among micro, small, and medium-sized enterprises (MSMEs) in Nigeria. This collaboration aims to empower over 10,000 MSMEs with cutting-edge digital and financial solutions, enabling them to achieve sustainable growth and thrive in the digital economy. Despite Nigeria’s progress in digital technology adoption, MSMEs still face significant challenges, including complex supply chains, reliance on manual, error-prone inventory management, and limited access to essential financial services.
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. These are complemented by training initiatives to boost financial and digital literacy. Mastercard is committed to driving financial inclusion and empowering small businesses worldwide,” said Folasade Femi-Lawal, Country Manager, West Africa, Mastercard.
Our collaboration with Alerzo and the e-Trade Alliance in Nigeria provides MSMEs with the digital tools and resources needed to thrive in today’s digital economy. By facilitating seamless digital payments and offering comprehensive business management solutions, we are fostering a more inclusive financial ecosystem and driving innovation and growth within the sector.
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.
Mastercard and Alerzo empower MSMEs
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. We are delighted to collaborate with Mastercard and e-Trade Alliance for this digital transformation project in Nigeria,” said Adewale Opaleye, CEO, Alerzo Limited. “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 collaboration aims 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. This public-private sector collaboration underscores our dedication to fostering inclusive economic growth through digital transformation,” said Michael Poor, Senior Manager, Nextrade Group, e-Trade Alliance.
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, thus powering more inclusive, sustainable growth in Nigeria.
This collaboration underscores 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, deepening collaborations with international institutions to drive more sustainable, inclusive economic development.
