General News
New Mastercard Whitepaper Shows that Digitalization is Key to Unlocking SME Growth Potential in Middle East & Africa

Small and medium enterprises (SMEs) across the Middle East and Africa (MEA) region are recognizing digitalization as essential to staying competitive in a transformed business and economic environment.

The insight is one of many in a new white paper by payments technology leader Mastercard, which explores the way small businesses are viewing digital payments, online presence and the benefits of an evolving cashless economy.
The white paper, titled ‘The Digital SME: How Are Small and Medium Enterprises in the Middle East and Africa Embracing a Digital Future?’, is an in-depth follow-on study from the data-rich Mastercard MEA SME Confidence Index 2021. This piece of research released findings about the importance of digitalization and rising confidence levels as SMEs across sectors, products, and services in the region, adapt to the new and evolving economic landscape.
It revealed that SMEs in MEA recognize faster access to revenue as the biggest benefit of a cashless economy to their business (44%). Other benefits identified include the ease of not handling or processing cash (50%) and having more convenient ways of paying suppliers and employees (50%).
Overall, 67% of MEA SMEs say e-commerce will have a positive impact on their business. A highlight from the study is that 89% of SMEs in Kenya, 81% in West Africa, particularly Nigeria, and 73% in the Ivory Coast believe the same.
The white paper also found that digitalization has progressed globally since 2018, but has seen higher traction among larger corporations and financial institutions than among SMEs.
It accelerated in 2020-21 to enable continuity of business, with the OECD estimating 70% of SMEs globally intensifying their use of digital technologies due to COVID-19 restrictions. Currently, according to the Mastercard MEA SME Confidence Index, digital payment methods used by MEA SMEs include mobile (59%), online (49%), and cards (48%).
“An empowered SME sector is a growth engine for the economic development of countries across the Middle East and Africa. But the challenges are many, chief being access to funding and digitalization which have emerged as huge needs. The Mastercard MEA SME Confidence Index found that 89% of SMEs in the region see potential in digitalizing their business which is encouraging for everyone within the digital economy,” said Gaurang Shah, Head of Products, Middle East and Africa, Mastercard.
Increasingly, SMEs are recognizing the practical benefits of digitalization in day-to-day operations, as opposed to viewing it as a long-term project for the future. There’s a solid case for this when data shows that 41% of SMEs that implemented digitalization initiatives, had stronger revenue growth in 2020 than non-adopters. Digitalization of SME operations also brings the benefit of generating data that institutions need to view an SME as a “real” business with potential and make more informed credit decisions. This helps bring small businesses into the financial mainstream.
Partnerships play a key role in the digitalization of SMEs
The white paper also found that partnerships play a key role in the digitalization of SMEs. A stable, growing, connected small business can be the key to financial inclusion for the whole community.
“As a technology company, Mastercard has leveraged the power of partnerships to deliver inclusion by providing financial, technology, product, and services support to SMEs across the world.
“Connecting businesses to one another within the ecosystem, to help them grow and prosper, is a key objective for Mastercard. For a neighborhood vendor or store, there are simple solutions to reduce the risk and cost of cash, and open up sales to more customers.
“At Mastercard, we continue to leverage our technology, insights, global expertise and partnership approach to empower every business, especially SMEs, everywhere to grow digitally, become stronger than before, and prosper in a more connected, equal, and inclusive world,” said Amnah Ajmal, Executive Vice President, Market Development, MEA, Mastercard.
MEA SMEs reclaiming confidence after COVID 19
Although challenges related to the COVID-19 pandemic remain, small businesses in MEA are reclaiming confidence. The Mastercard MEA SME Confidence Index found 74% of SMEs in the region are optimistic about future growth, guided by the potential for digitalization, better data, access to credit and upskilling.
According to the Organization for Economic Cooperation and Development (OECD), up to 70% of SMEs globally have intensified their use of digital technologies in the wake of COVID-19. However, the gaps in SME digital adoption have not been filled.
The challenges include access to infrastructure, lack of a data culture and digital awareness, and financing gaps for transformation costs, among others. Access to financing remains a key concern for SMEs worldwide, with the IFC estimating an unmet need of USD 5.2 trillion per year.
Through technology services, cyber assessments, insights, grants, digital training, mentoring platforms and knowledge initiatives, Mastercard will contribute $250 million over five years to support small businesses’ financial security globally.
As part of its goal to build a more sustainable and inclusive world, Mastercard has committed to connect 50 million small businesses, including 25 million women entrepreneurs globally, to the digital economy by 2025.
General News
NIMC Disowns Fake NIN Portal

National Identity Management Commission (NIMC) has warned Nigerians to disregard a viral online flyer claiming that a free portal has been opened for the correction of National Identification Number (NIN) data.

In a statement posted on its official X (formerly Twitter) handle, the commission described the flyer as fake and cautioned the public against using any links associated with it.
“The public is hereby advised not to use the above for modifying their NIN data. All modifications should only be done via the official channel,” NIMC stated, directing users to its authorised self-service portal.
The misleading flyer, which has circulated widely on social media, carries the logos of NIMC and the federal government, falsely claiming that authorities had launched a special correction portal in response to a “high level of complain.”
It lists services such as name, gender, and date of birth corrections, and provides links redirecting users to a suspicious “gvly.xyz” domain—an address the commission says is not affiliated with any government platform.
NIMC noted that the flyer has since been marked “FAKE” in red, indicating it is being recirculated as part of efforts to debunk the misinformation.
The Commission reiterated that all NIN data modifications can only be carried out through its official self-service platform, urging Nigerians to remain vigilant and avoid falling victim to online scams.
General News
Moniepoint Acquires Orda Africa to Transform Africa’s $50Bn Restaurant Sector

Moniepoint Inc. (“Moniepoint” or the “Company”), Africa’s all-in-one financial ecosystem platform for individuals, businesses and their customers, today announced the acquisition of Orda Africa (“Orda”), a leading cloud-based restaurant management platform operating in Nigeria.

Moniepoint
Under the terms of this acquisition, Orda will become part of the Moniebook platform, Moniepoint’s all-in-one Point-of-Sale (POS) and business management platform. Since launching its business management tools product in 2025, Moniebook has rapidly become the go-to platform for thousands of African businesses seeking integrated financial and operational tools, seamlessly unifying payments and bookkeeping in one platform.
With Orda, restaurant owners can now gain access to this proven ecosystem that creates unprecedented opportunities to scale operations, optimize performance, and access credit, as well as the extensive reach of Moniepoint which has powered growth for millions of African businesses.
The acquisition comes as Africa’s food service industry experiences unprecedented growth, with the sector valued at $50 billion and Nigeria’s market alone projected to reach $19.31 billion by 2030, growing at 11.73% annually. With Orda’s restaurant-focused capabilities now part of the Moniepoint ecosystem, the platform is well-positioned to capture this opportunity.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, today Moniepoint has grown into one of Nigeria’s leading distributors of financial services as well as a trusted platform for many of the country’s MSMEs especially in the informal sector.
The company has considerably expanded its offerings to include digital payments, business and personal banking, credit, cross-border payments, and business management tools with a customer base exceeding 20 million active businesses and personal banking customers and processes over US$250 billion in digital payments transaction value annually.
Tosin Eniolorunda, Co-Founder and Group CEO of Moniepoint Inc., said: “The food industry isn’t just about feeding people, it’s a major source of jobs and daily survival for many Africans. It highlights how vital the informal sector is, not just for the economy, but for everyday life across the continent.
Data has shown us that Africa’s restaurant sector is one of the continent’s most dynamic economic engines, yet the majority of food businesses still operate with manual processes and fragmented tools. By bringing Orda into Moniepoint, we are giving restaurant owners what they deserve: one simple platform that handles everything from managing their kitchen to growing their business. Our goal remains to create financial happiness for Africans, giving them the tools to reach their full potential and that’s exactly what we’ve built here.”
Founded in 2020, Orda was built to give Africa’s small and independent restaurants the tools they need to run more efficiently, providing a purpose-built software to businesses that had long operated without it.
Guy Futi, CEO of Orda, reassured existing customers: “Orda has found the perfect home in Moniepoint. We have spent years building deep expertise in restaurant operations, but we have always known that to truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure.
“That’s exactly what this integration delivers. For our customers, we are assuring a smooth transition with no disruption to the platform and retained access to the support you are used to. What changes is your access to opportunities.
“Over the coming weeks, being part of Moniepoint means you’ll have more tools, more reach, and more ways to grow your business than ever before”
Combining their respective strengths, Moniepoint and Orda deliver a purpose-built solution that empowers food businesses at every scale to manage orders, track inventory, pay suppliers, and access working capital, all in one seamless experience.
This move represents a demonstrated commitment to building a dedicated financial infrastructure designed around the unique complexity of Africa’s food economy.
For the millions of food entrepreneurs across the continent, from the everyday buka owner to the high-end restaurateur, this acquisition means less time managing multiple tools or carrying out arduous manual work and more time doing what they do best – feeding Africa.
General News
Tech Firms Sack over 45,000 so Far in 2026

More than 45,000 jobs have been cut across the global technology sector in the first few months of 2026, according to data from RationalFX, signalling that the industry is still adjusting after a period of aggressive hiring rather than returning to a full growth phase.

“In 2025, automation, artificial intelligence, and sustained cost-discipline measures drove much of the downsizing, with entire departments restructured or eliminated in favour of leaner, AI-assisted workflows. This trend has continued full steam into 2026,” said Alan Cohen, analyst at RationalFX.
According to the report, if the current rate of redundancies is sustained, total layoffs in 2026 could surpass the 245,000 recorded in 2025.
The majority of these layoffs have been concentrated in the United States, with major companies continuing to trim their workforce despite stable core operations.
Amazon has announced approximately 16,000 job cuts this year, while Block has also reduced thousands of roles as it tightens operations and shifts focus towards artificial intelligence.
There are indications that further reductions may follow.
Meta is reportedly considering additional layoffs as it increases investment in AI infrastructure, while PayPal and Klarna are reassessing spending and hiring strategies amid ongoing uncertainty.
Established technology firms are also undergoing restructuring. Dell has reduced its workforce by around 11,000 over the past year as part of a broader reorganisation, while Salesforce has cut approximately 1,000 roles in 2026 while aligning its teams more closely with AI-driven products.
Outside the United States, layoffs have been smaller in scale but more geographically dispersed.
Australia has reported around 2,650 job cuts so far this year, followed by Sweden with roughly 1,923 and Netherlands with about 1,700.
Other markets have also been affected. Israel and India have recorded approximately 1,539 and 1,520 layoffs respectively, with Israel’s startup ecosystem particularly sensitive to tighter funding conditions, while in India, both startups and larger IT firms have reduced headcount as global client spending slows.
In Singapore, around 1,016 layoffs have been reported, reflecting a softer hiring environment across Asia’s major technology hubs, where companies are adopting a more cautious approach amid uneven demand.
Across Europe, job cuts have been comparatively limited but still noticeable.
The United Kingdom has recorded around 1,000 layoffs, while Czech Republic and Germany have seen smaller reductions.
The broader trend suggests that technology companies are shifting towards leaner operations and more defined priorities following years of expansion. Increasing investment in automation and artificial intelligence is also reshaping the types of roles in demand.
For employees, the impact is becoming increasingly visible, with hiring slowing and becoming more selective. While opportunities remain, companies are taking a more measured approach to recruitment compared to the rapid expansion seen in previous years.
Further credit… .storyboard18.com
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