About 10,000 micro, small and medium-scale enterprises (MSMEs) will be given cutting-edge digital and financial solutions to help them to achieve sustainable growth and thrive in the digital economy.

This empowerment is brought by the collaboration between Mastercard Alerzo, a Nigerian B2B e-commerce company and the USAID-funded e-Trade Alliance.

According to reports, in spite of Nigeria’s progress in digital technology adoption, MSMEs still experience challenges, like complex supply chains, reliance on manual, error-prone inventory management and limited access to essential financial services.

The 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.

The 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.

Alerzoshop also 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.

The CEO of 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.”