Mastercard and SMEDAN Team Up to Boost SME Digitization in Nigeria

In a bid to drive the digital transformation of small and medium enterprises (SMEs) in Nigeria, Mastercard and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) recently convened a MSME Growth Forum. The event brought together entrepreneurs, financial institutions, policymakers, and ecosystem partners to explore the practical tools, collaborations, and capabilities necessary for SMEs to thrive in the digital age. According to Daily Post Nigeria, the collaboration between Mastercard and SMEDAN is aimed at supporting the Federal Ministry of Industry, Trade and Investment’s efforts to digitize SMEs.

The partnership builds on Mastercard’s commitment to empower small businesses in Nigeria. Mastercard’s Executive Vice President, Market Development, Middle East and Africa, Kiki Delooz, emphasized the need for Nigerian SMEs to adopt digital solutions to grow their businesses and remain competitive. Delooz was quoted by Daily Post Nigeria as saying, ‘Nigeria is home to a dynamic and resilient entrepreneurial ecosystem, and we believe that by providing small businesses with the right tools, they can grow, innovate and create jobs.’

SMEDAN’s Director-General, Umar Dikko, also highlighted the importance of digitizing SMEs for economic growth. Dikko expressed his optimism about the collaboration, stating, ‘The collaboration between Mastercard and SMEDAN is an excellent example of public-private partnerships that can drive economic growth and job creation in Nigeria.’

The collaboration between Mastercard and SMEDAN was also covered by TechCabal. The event culminated in the signing of a Memorandum of Understanding (MoU) between the two organizations to further strengthen their partnership and work towards advancing SME digitization in Nigeria.