Mastercard, Others Collaborate to Drive Financial Inclusion for 10,000 MSMEs

Stories by Emma Okonji

Mastercard has collaborated with Alerzo, a leading Nigerian B2B e-commerce company, and the USAID-funded e-Trade Alliance to accelerate the digital transformation of and enhance financial inclusion among micro, small, and medium-sized enterprises (MSMEs) in Nigeria.

The 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.

Speaking about the collaboration, Country Manager, West Africa, Mastercard, Folasade Femi-Lawal, said: “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. Facilitating seamless digital payments and offering comprehensive business management solutions, will enable us foster a more inclusive financial ecosystem and drive innovation and growth within the sector. The collaboration demonstrates the immense possibilities that can be unlocked through the power of public-private partnerships.”

CEO, Alerzo Limited, Adewale Opaleye, said: “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.”

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 ecommerce, 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.”