Telecom
Mastercard Set to Empower Small Businesses in Nigeria with Low-Cost Payments Solution

Mastercard has launched a new low-cost payments solution that enables small business owners to move their businesses online and accept a range of digital payments from their customers.
The “SME-in-a-Box” solution is powered by Mastercard’s payment technologies and that of its StartPath fintech partners, including onboarding technology provider Signzy and Mastercard’s network of Tap on Phone partners.
It is also powered in Nigeria by leading fintech, Innovectives. The solution will aid small and micro merchants across the country in expanding their customer base via digital platforms and enable sustainable revenue growth.
The unique offering enables business owners to access a wide range of financial services quickly and easily through a single intuitive app compatible with all Android mobile devices.
The app’s functionality supports contactless payments, Quick Response (QR) code payments, and can generate e-payment links for remote payments. The platform can be leveraged by partners including banks, Payment Service Providers and Mobile Network Operators through application programming interfaces (APIs) or a white label app to rapidly take the solution to market.
SME-in-a-Box offers a low-cost acceptance service that can run on smart phones and is powered by Mastercard Payment Gateway Services. It also delivers speed and simplicity with remote digital onboarding services from Mastercard’s StartPath partners.
In addition, through its Simplify Commerce offering, Mastercard will enable SMEs with a plug-&-play e-commerce store builder with an instant online checkout. SMEs can access a virtual card and get access to business tools through Mastercard’s partner ZOHO as well as get access to educational tools.
These capabilities have been packaged as a bundled solution combined with special incentives to drive adoption and support business owners to tackle challenges during COVID-19.
Gaurang Shah, Senior Vice President, Product Management, Digital Payments & Labs, Middle East and Africa – Mastercard, said: “The SME market represents 90% of businesses in Nigeria, and has been deeply impacted by the pandemic.
“We recognize the overwhelming pressure that small business owners are currently facing and are committed to supporting them through COVID-19 and beyond by bringing our tools at a low cost and rapid time to market.
“The SME-in-a-Box offering provides SME owners with a quick and simple way to digitize their business and build a platform for sustained future growth.”
Olubusola Osilaja, Group Executive Director, Platforms and Partnership – Innovectives, commented: “Merchants across emerging markets are the backbone of these economies and are eager to do more.
“However, many of them are limited in accessing supportive financing and business support. In combination with the impact created due to the pandemic, the need to support SMEs is more stringent than ever before.
“We are leveraging our strength in banking, payment and lending technologies, along with a deep understanding of retail merchant networks to deliver SME-in-Box.
“We are excited to work with the amazing team at Mastercard and partner fintechs to unlock rapid growth through digitization for small businesses in emerging markets”
Mastercard has made a global commitment to bring 1 billion people into the digital economy by 2025.
This includes 50 million small businesses and 25 million women entrepreneurs. As part of its response to the COVID-19 pandemic, Mastercard has pledged $250 million in financial, technology, product, and insights support over the next five years to small businesses across the globe, supporting the financial security and vitality of businesses and their workers.
Telecom
Meta, FMCIDE Unveil AI Accelerator to Drive Innovation in Nigeria

Meta, in collaboration with the Federal Ministry of Communications, Innovation & Digital Economy (FMCIDE), has launched the Llama Impact Accelerator Program to foster AI-driven solutions across critical sectors in Nigeria.
The eight-month program will support early-stage startups developing AI innovations using Meta’s open-source Llama models. Target sectors include Agriculture, Security & Safety, Healthcare, and a wildcard category for other high-impact applications.
Speaking at the launch, Sade Dada, Head of Public Policy, Anglophone West Africa at Meta, emphasized the initiative’s role in advancing Nigeria’s digital ecosystem. “We are thrilled to partner with FMCIDE in supporting local AI talent. Open-source AI should be accessible and relevant to national challenges,” she said.
The program will begin with a six-week incubation period, offering technical training and mentorship from industry experts, followed by six months of extended support, including access to technical resources.
Minister of Communications, Innovation & Digital Economy, Dr. ‘Bosun Tijani, hailed the initiative as a “major step forward” in Nigeria’s AI development strategy. “AI will be a key driver of national growth, and this program equips innovators with the tools to tackle pressing issues,” Tijani stated.
The Llama Impact Accelerator aligns with Meta’s broader mission to democratize responsible AI access while fostering innovation in emerging markets.
In collaboration with academic and government stakeholders, the initiative is expected to accelerate Nigeria’s AI industry and drive impactful change.
Applications for the program remain open until June 27, 2025. More details can be found at llamaimpactssa.splashthat.com.
Telecom
Nigeria Leads the Charge in Green Innovation @MTN’s Africa PachiPanda Challenge

In an era where climate change, youth unemployment, and food insecurity loom large over the continent, a powerful new force is rising — young African innovators building a green future from the ground up.
At the just-concluded Africa PachiPanda Challenge 2024, organised by MTN and WWF (World Wide Fund for Nature), Nigerian entrepreneur, Olabisi Rafatu Emmanuel, emerged as one of the continent’s top eco-champions, spotlighting the potential of purpose-driven innovation to rewrite Nigeria’s climate and development story.
While Moses Afopezi of Cameroon took home the top prize with AgricFresh, a smart solution combating post-harvest loss, Olabisi’s reusable menstrual products solutions as a waste transformation model earned her national applause and a seat at Africa’s sustainability table, emerging as the second-place winner.
Speaking during the announcement, MTN’s leadership underscored that this challenge goes far beyond accolades. “Together, we have the power to shape a greener, more sustainable Africa — one bold idea at a time,” Nompilo Morafo, Group Chief Sustainability and Corporate Affairs Officer, MTN, said.
The triumph comes at a time when Nigeria is grappling with the environmental menace of climate change in major urban hubs like Lagos, Abuja, and Port Harcourt, even as the Nigerian government is clamouring for smart innovations to address climate change issues such as climate funding, carbon trading and just energy transition.
The National Environmental Standards and Regulations Enforcement Agency (NESREA) recently reiterated calls for tech-based waste management solutions – making Olabisi’s innovation timely and impactful.
MTN says this is just the beginning. With plans to expand the PachiPanda Challenge to more countries and deepen support for eco-entrepreneurs, the telecoms giant is reaffirming its commitment to socio-economic development through green innovation.
As Nigeria sets its sights on achieving the Sustainable Development Goals by 2030, the PachiPanda story is a timely reminder that the answers may lie not in government halls – but in the dreams and drive of Nigeria’s young changemakers.
Telecom
Innovation Will Shape Nigeria’s Digital Economy – A’isha Mumuni

MTN Nigeria has convened alumni of its Media Innovation Programme (MIP) for an interactive training session on digital monetisation in Nigeria’s Value-Added Services (VAS) sector.
The hybrid event, themed “Understanding Digital Monetisation: Opportunities in the VAS Space in Nigeria,” was led by A’isha Umar Mumuni, Chief Digital Officer, MTN Nigeria. Participants explored evolving digital revenue models, including mobile payments, subscription billing, and telco-backed content partnerships.
Mumuni emphasized the growing significance of digital innovation. “Innovation is the currency of the future,” she stated. She cited projections indicating Nigeria’s potential emergence as the world’s fifth-largest economy by 2075, with the digital economy at the forefront of this growth.
The session spotlighted MTN Nigeria’s role in enabling content creators through platforms such as Callertunes, MTN Play, and digital storefronts. Participants were grouped into breakout sessions where they pitched digital product ideas, fostering creativity and strategic thinking.
According to industry figures, Nigeria’s digital economy contributed 18.44 percent to GDP as of Q2 2022, with ICT revenue soaring from ₦51.3 billion to ₦594 billion over a decade. Global digital services revenue reached an estimated $2.58 trillion in 2024, driven by advertising, paid content, and internet access.
Now in its fourth year, MTN Nigeria’s MIP continues to equip media professionals with the knowledge and tools to thrive in a digital-first economy. The company reaffirmed its commitment to supporting its alumni through curated development sessions that empower media practitioners in Nigeria.
For further details on the MIP programme and upcoming alumni engagements, visit www.mtnmip.smc.edu.ng.
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