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Mastercard, Alerzo, and e-Trade Alliance Unite to Enhance Financial Inclusion for 10,000 MSMEs

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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.

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, complemented by training initiatives to boost financial and digital literacy.

“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. 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.

“This collaboration demonstrates the immense possibilities that can be unlocked through the power of public-private partnerships,” said Folasade Femi-Lawal, Country Manager, West Africa, Mastercard.

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.

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.

Adewale Opaleye, CEO, Alerzo Limited, 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.”

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.

Michael Poor, Senior Manager, Nextrade Group, e-Trade Alliance implementing partner, 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.”

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 and deepening collaborations with international institutions to drive more sustainable, inclusive economic development.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Konga Jara Brings Joy to Shoppers with Up to 50 Percent Discounts

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Konga’s annual Jara campaign has sparked excitement among Nigerian shoppers, offering timely discounts of up to 50% across various product categories.

Konga Jara Brings Joy to Shoppers with Up to 50 Percent Discounts

The initiative, themed “Confam New Year Deals,” has emerged as a vital lifeline for consumers navigating the financial challenges typical of January.

Market analysis shows a significant surge in essential household purchases, with electronics, home appliances, and FMCG items leading the sales charts.

Data from the first two weeks of the campaign reveals that home appliances and electronics account for 45% of total sales. Groceries and FMCG follow closely at 30%, while fashion and lifestyle products make up 25% of purchases.

“Konga Jara couldn’t have come at a better time,” says Mrs. Folake Adeyemi, a Lagos-based civil servant.

“With school fees and other January commitments, the discounts on groceries have helped me maintain our family’s standard of living without breaking the bank.”

Similarly, Mr. Chidubem Okafor, a small business owner in Abuja, notes, “I’ve been able to restock my shop with quality products at much lower prices. The authenticity of products on Konga gives me confidence in my purchases.”

The campaign’s success reflects growing consumer trust in online shopping platforms that prioritize genuine products and competitive pricing.

Shoppers have particularly appreciated the convenience of accessing these deals both online at www.konga.com and offline across Konga’s nationwide retail stores.

Beyond mere discounts, the initiative demonstrates Konga’s understanding of the Nigerian consumer’s needs, especially during traditionally challenging financial periods.

The combination of competitive pricing, product authenticity, and accessible shopping channels has created a winning formula for both the business and its customers.

As the campaign continues, shoppers are encouraged to take advantage of these substantial savings across all categories.

Whether shopping for household essentials, electronics, or fashion items, Konga Jara offers an opportunity to make significant savings while ensuring access to genuine, high-quality products through Nigeria’s trusted e-commerce platform.

 

 

 


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E-Business

NOA Launches Nigeria’s General Multipurpose National Identity Card

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National Orientation Agency (NOA) has officially unveiled details about Nigeria’s upcoming General Multipurpose National Identity Card (GMPC).

NOA Launches Nigeria’s General Multipurpose National Identity Card

This innovative initiative aims to consolidate identification documents, improve financial accessibility, and streamline government and private sector services for Nigerian citizens.

Key Features of the GMPC

Unified Identification:

The GMPC will replace multiple identity documents, serving as a comprehensive form of identification for Nigerians.

This will reduce the burden of carrying multiple cards and simplify access to services.

Financial Integration:

In collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS), the GMPC will allow users to conduct financial transactions directly through the card. It will act as both an ID and a payment tool.

AFRIGO Support:

The GMPC will operate under the AFRIGO card scheme, Nigeria’s domestic payment system.

This move aims to promote the use of locally developed financial infrastructure and reduce dependency on foreign systems.

How to Apply

Citizens can apply for the GMPC through several channels:

Online Portal: Applicants can initiate the process online via a self-service portal.

NIMC Offices: Physical applications will be accepted at National Identity Management Commission (NIMC) offices across the country.

Banks: Selected banks will also facilitate applications, allowing individuals to apply directly through their financial institutions.

Applicants will need to provide their National Identification Number (NIN) as part of the application.

Once processed, the GMPC will be issued through the applicant’s chosen bank, similar to how debit and credit cards are distributed.

Cardholders can collect their GMPC at designated collection points or opt for home delivery at an additional fee.

The General Multipurpose National Identity Card (GMPC) is expected to revolutionise identification and service delivery in Nigeria.

It will provide secure, multi-purpose access to financial, governmental, and private sector services.

Additionally, the card is poised to enhance financial inclusion by bridging gaps for underserved communities.

The new identity card is part of the government’s broader effort to embrace digital transformation.

By consolidating identification and financial services into a single platform, the GMPC aligns with the country’s drive toward technological advancement and efficient service delivery.

The NOA has urged all eligible citizens to stay informed about the application process and prepare to leverage the benefits of the GMPC once it becomes available.

This initiative underscores the government’s commitment to modernising administrative systems and improving the quality of life for Nigerians.

 

 

 


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E-Business

US Supreme Court Upholds Law Banning TikTok

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The United States Supreme Court has upheld a law seeking to ban TikTok in the United States.

US Supreme Court Upholds Law Banning TikTok

The court ruled that the law does not infringe upon free speech rights, citing the US government’s legitimate national security concerns about the Chinese ownership of the app.

Last week, the Supreme Court listened to the arguments from ByteDance, TikTok’s parent company, claiming the law violated free speech.

“There is no doubt that TikTok provides a unique platform for expression, engagement, and community to over 170 million Americans,” the justices stated.

With this decision, the ban set for Sunday remains in place, despite calls from lawmakers and officials across the political spectrum for a delay.

Last year, Congress passed a law requiring ByteDance to sell TikTok or shut it down in the US by January 19, reflecting widespread concerns in Washington that the app could be exploited by China for espionage or propaganda.

On Friday, White House officials informed the media that the ban would not be enforced, leaving the final decision to President-elect Donald Trump, who assumes office the next day.

In December 2024, TikTok asked the US Supreme Court to temporarily block a law that would force its Chinese owner to sell the popular video-sharing platform or shut it down by January 19.

The appeal came the same day TikTok, Shou Zi Chew, CEO, met with US President-elect Donald Trump.

 

 

 


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