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Mastercard has partnered with Alerzo, a leading Nigerian B2B e-commerce platform, and the USAID-funded e-Trade Alliance to accelerate the digital transformation of micro, small, and medium enterprises (MSMEs) in Nigeria. This collaborative initiative aims to empower over 10,000 small businesses by year-end, driving financial inclusion and fostering sustainable growth.
The partnership introduces a suite of digital tools tailored to address the unique challenges faced by Nigerian MSMEs. These include Alerzoshop, a B2B digital marketplace that simplifies inventory and supply chain processes, and Veedez, a platform for digital payments and business management. These are further enhanced by Mastercard’s advanced payment solutions, such as Tap to Pay, QR codes, and Payment Gateway Services, offering seamless, secure, and scalable financial services to small businesses.
Advancing Financial Inclusion and Business Growth
This collaboration aligns with Mastercard’s global commitment to bring 1 billion individuals and 50 million MSMEsinto the digital economy by 2025. Speaking on the initiative, Folasade Femi-Lawal, Mastercard’s West Africa Country Manager, emphasized the role of partnerships in driving innovation and inclusion:
“Mastercard is dedicated to empowering small businesses globally by equipping them with the tools and resources they need to thrive in a digital economy. Our partnership with Alerzo and the e-Trade Alliance underscores our commitment to creating a more inclusive financial ecosystem. By combining Mastercard’s cutting-edge payment technologies with Alerzo’s local expertise, we are unlocking opportunities for Nigerian MSMEs to innovate, grow, and contribute to a cashless society.”
Innovative Digital Solutions for MSMEs
Alerzoshop simplifies the restocking process for MSMEs by connecting them to a vast network of suppliers through their mobile devices. Meanwhile, Veedez enables businesses to digitize operations, unlock new sales channels, and boost revenue. Additionally, the platform offers micro-lending services, providing small businesses with critical financial support to scale operations.
Adewale Opaleye, CEO of Alerzo, highlighted the transformative impact of the initiative:
“As a trusted partner for informal retailers and MSMEs, Alerzo is committed to introducing innovative retail solutions that strengthen Nigeria’s economy and promote the adoption of digital payment systems. This partnership with Mastercard and e-Trade Alliance furthers our mission of connecting millions of Nigerian MSMEs to a digital economy where profitability and efficiency are integrated into their operations.”
Beyond Technology: Capacity Building and Training
In addition to digital infrastructure, the initiative includes financial and digital literacy training tailored to equip MSMEs with the skills needed to leverage these solutions effectively. By fostering a deeper understanding of digital payment systems and financial tools, the partnership supports the broader adoption of cashless systems and strengthens the foundation of a more inclusive economy.
Driving Economic Development Through Collaboration
This strategic partnership between Mastercard, Alerzo, and the e-Trade Alliance demonstrates the potential of public-private collaborations in catalyzing economic growth. By addressing the challenges faced by MSMEs and equipping them with innovative tools and resources, the initiative is paving the way for a more sustainable and digitally connected future for Nigeria’s small business ecosystem.
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