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
Anambra Seeks Digital Inclusion in Rural Communities

Anambra State Government says it is exploring partnerships with the Federal Government and other stakeholders to extend digital connectivity to underserved rural communities across the state.

The Managing Director and Chief Executive Officer of the Anambra State ICT Agency, Mr Chukwuemeka Fred Agbata, disclosed this during a virtual media engagement with journalists on Thursday.
Agbata said rural connectivity remained a major challenge because telecommunications operators were often reluctant to invest heavily in communities where network deployment might not be commercially viable.
He said the state was willing to explore opportunities to leverage Federal Government infrastructure and the Universal Service Provision Fund (USPF) to extend connectivity to underserved communities.
“We understand what digital inclusion means because we are dealing directly with these communities,” Agbata said.
According to him, the objective is to ensure that rural residents are not excluded from the benefits of digital government and the wider digital economy simply because of where they live.
Agbata said the effort formed part of the state’s broader digital transformation agenda, which is targeting deeper digitalisation of government services and a more digitally enabled business environment by 2030.
He said the second phase of the agency’s digital transformation agenda would focus on e-governance, digital infrastructure, smart government and the use of emerging technologies to drive development.
“My core vision is that we would have digitised every single government entity in Anambra State,” he said.
The ICT boss said the digital transformation agenda would extend beyond government ministries, departments and agencies (MDAs) to businesses and residents across the state.
He said the agency was already developing websites for government MDAs and transforming them from mere information platforms into channels for delivering government services.
“We are building websites for all the MDAs. We are also automating them to be able to carry out services and give government support and government services through their websites,” he said.
Agbata said the initiative would reduce the need for citizens to physically visit government offices to access basic services.
He said the Smart Anambra platform had already demonstrated growing demand for remote access to government services.
According to him, the platform recorded about 14,000 visits between July 9 and July 29, averaging approximately 700 visits daily, despite limited publicity.
He said the data indicated that residents were interested in accessing government services online, including applications, permits and identification-related processes.
“What the data is already showing us is that we really need to build a system that allows people to actually get government services remotely,” Agbata said.
He explained that the objective was to allow residents to initiate processes online, complete forms remotely and only visit government offices where physical presence was eventually required.
This, he said, would reduce the time and cost citizens spend travelling to Awka or other government offices to access services.
Agbata said services in areas including hospitals, schools and other government processes were being connected to Smart Anambra.
Anambra Targets 2030 for Digital Government
Agbata said the state’s 2030 target was to deepen the digitalisation of government services and create an environment where businesses could increasingly operate within the formal digital economy.
He said the agency was working with the Ministry of Commerce to promote the formalisation of businesses, particularly SMEs and businesses operating in major markets.
“One of the biggest challenges that we have is that SMEs are not formalised enough,” he said, adding that the agency was exploring partnerships to address the challenge.
The ICT agency boss said the transformation would be gradual because major government initiatives required the necessary approvals and resources.
On the possibility of making Anambra completely paperless, Agbata disclosed that the State Executive Council was already operating a paperless system.
He, however, said the entire civil service might continue to operate a combination of digital and paper-based processes for some time because of the complexity of government operations.
“What might happen is a dual situation,” he said, adding that selected MDAs could be used as pilots for deeper digital transformation.
Agbata also disclosed that the Anambra State ICT Agency had commenced the deployment of a locally trained artificial intelligence (AI) system to automate its operations and explore applications in governance, revenue management and public-sector productivity.
He explained that the agency did not develop a frontier large language model from scratch because of the huge computing and financial resources required.
Instead, he said, it adopted an open-source model, modified it and was training it for specific local use cases.
“We have started doing our own local AI system. It is an open-source system, so we didn’t build our own frontier model. We basically looked at open source and modified it, and we are training it,” Agbata said.
He said the system had already been deployed to automate the agency’s operations end-to-end.
“We have used it to automate our agency end-to-end. Everything that we do now is currently automated,” he said.
Agbata said the agency was exploring how the model could be applied across other areas of government to improve productivity, address revenue leakages and strengthen governance.
He said the AI initiative formed a major part of what he described as the agency’s “2.0” phase following his reappointment by Gov. Chukwuma Soludo.
According to him, the second phase would build on achievements in infrastructure, capacity development, e-governance and smart government while placing greater emphasis on AI and emerging technologies.
Agbata also said the state’s free public Wi-Fi initiative remained operational, stressing that the programme was introduced before the electioneering period.
“The free Wi-Fi didn’t start as a political thing, a campaign thing. It started way before the campaigns,” he said.
He explained that the strategy was adjusted during the campaigns to enable residents to follow the governor’s activities and participate in live engagements while on the move.
According to him, existing Wi-Fi locations, including facilities at the state Secretariat, remain operational, although occasional downtime occurs, particularly during periods of adverse weather.
“There are downtimes now and then because with the rains and all of that, these things have their uptime and their downtimes, but it is still very much available,” he said.
He disclosed that there were currently no plans to establish additional Wi-Fi locations, noting that existing sites were still providing services.
Agbata said the state would continue to develop digital skills and education programmes, including Smart Schools and other capacity-development initiatives.
He also called for stronger collaboration among government, technology companies, telecommunications operators, local technology manufacturers and other stakeholders to accelerate the state’s digital transformation.
He cited the procurement of about 2,000 computers supplied by indigenous technology company, Zinox, as an example of the state’s engagement with local technology providers.
Agbata said the agency would remain open to partnerships capable of supporting Anambra’s technology agenda.
He said the ultimate objective was to build an Anambra where residents and businesses could increasingly interact with government digitally, while technology becomes a central driver of economic development across the state.
General News
Nigeria Not Making Progress in Fiscal Transparency –US

United States Government has said that Nigeria is not making significant progress in fiscal transparency, referencing gaps in the country’s budget disclosure, expenditure reporting, public procurement transparency and audit processes.

The assessment is contained in a report by the United States Department of State, which reviewed Nigeria’s fiscal transparency practices in its 2026 fiscal transparency report for countries published on Tuesday.
The report noted that the US government stated that Nigeria made some key fiscal documents available to the public, significant shortcomings remained in the disclosure of budgetary information and the management of public finances.
The report noted that “the government made its enacted budget and end-of-year report widely and easily accessible to the public, including online, but did not publish its executive budget proposal within a reasonable period.”
It also stated that while the Nigerian government had made information concerning the country’s debt obligations publicly available, its budget documents failed to provide a comprehensive picture of government revenues and expenditures.
“The government made information on debt obligations, including major state-owned enterprise debt, publicly available, but budget documents did not provide a substantially complete picture of the government’s revenues and expenditures, or break down expenditures to support executive offices in the budget,” the report stated.
The US government further raised concerns about discrepancies between Nigeria’s approved budget and the actual revenues and expenditures recorded during implementation.
It said, “Actual revenues and expenditures did not reasonably correspond to those in the enacted budget.”
The report also criticised the country’s supreme audit institution, stating that it did not meet international standards of independence and did not publish substantive reports, although it had access to the entire executed budget.
“The supreme audit institution did not meet international standards of independence or publish substantive reports but did have access to the entire executed budget,” it stated.
The assessment, however, acknowledged that Nigeria’s sovereign wealth fund had an adequate legal framework and disclosed information about its funding and the general approach to withdrawals.History
“The sovereign wealth fund had a sound legal framework and disclosed its source of funding and general approach to withdrawals,” the US government said.
General News
World Bank Investing $25 million in Equity in Jumia Technologies

The World Bank Group is supporting the expansion of Africa’s digital commerce infrastructure to help small businesses reach new markets, create jobs, and strengthen economic opportunities across the continent.

Through Jumia, Africa’s leading e-commerce platform, the investment is expected to enable approximately 60,000 local annual active sellers to participate more fully in the digital economy, support around 1,800 direct jobs, and create income-generating opportunities for more than 100,000 independent sales agents.
As digital commerce continues to grow across Africa, reliable access to online marketplaces, logistics networks, and digital payments are becoming increasingly important for entrepreneurs and small businesses seeking to expand beyond local markets. Strengthening this infrastructure can help firms increase sales, improve productivity, and connect consumers with a wider range of affordable goods and services.
To support this effort, the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is investing US$25 million in equity in Jumia Technologies AG (Jumia), Africa’s largest public e-commerce platform. The investment will support Jumia’s next phase of growth across its core African markets, strengthening its integrated marketplace and logistics network.
By expanding access to digital commerce tools and services, the investment will help businesses grow, improve price transparency, and contribute to more inclusive and resilient private sector development across Africa.
“The support of the World Bank Group is a milestone for Jumia and for African e-commerce more broadly. It validates both the discipline we have brought to our business in recent years and the tangible impact our platform has on small businesses, jobs, and consumers across our eight markets. With partners like the IFC, we can accelerate the digital commerce infrastructure Africa needs” said Francis Dufay, CEO of Jumia.
“Jumia demonstrates how pan-African e-commerce platforms can expand economic opportunity at scale. Our investment supports the company’s next phase of growth while contributing to create jobs, digitizing supply chains and distributions channels and mobilizing private investment” said Farid Fezoua, Director for Equity, Funds, and Venture Capital at the International Finance Corporation, World Bank Group.
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