Mastercard, Alerzo & e-Trade Alliance Empower 10,000 Nigerian MSMEs with Financial Literacy
Alerzo, Nigeria's leading technology service provider that enables MSMEs, especially informal retailers, to reach their full potential, in collaboration with Mastercard and the USAID-funded e-Trade Alliance, has successfully concluded a nine-month digital transformation program empowering over 10,000 micro, small, and medium-sized enterprises (MSMEs) across South-West Nigeria. The collaboration provided the MSMEs with cutting-edge digital and financial solutions equipping them to thrive in today's digital economy.
This collaboration provided digital literacy skills and essential business tools, such as Alerzoshop and Veedez, to help 10,000 MSMEs run sustainable businesses in a 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.
The initiative also addressed critical challenges faced by MSMEs in Nigeria, such as low levels of financial literacy and limited understanding of how to utilise technology to grow their businesses. By placing special emphasis on digital literacy training, including practical sessions and interactive activities, the program educated the business owners on how to leverage digital tools and innovative financing options to improve operational efficiency and achieve sustainable growth.
Speaking on this, Adewale Opaleye, CEO, Alerzo Limited, said:
"As a leading player in Nigeria's informal retail sector, Alerzo is committed not only to building digital solutions but also to ensuring MSMEs have the digital skills needed to transform their businesses. We're delighted to have collaborated with Mastercard, USAID, and the e-Trade Alliance for this project, as it reflects our dedication to connecting MSMEs in Nigeria to a world where digital connectivity is integrated into their businesses, making them more sustainable and profitable."
Folasade Femi-Lawal, Country Manager, West Africa, Mastercard, also remarked:
“Efforts like this collaboration with Alerzo, and the e-Trade Alliance can unlock the immense possibilities for local economies and communities. Digital tools give small businesses some of the resources needed to thrive in today’s digital economy. They help provide the payment choices their customers want, while helping to manage their operations more efficiently."
The digital literacy training sessions were held in key locations across South-West Nigeria, including Ibadan, Sagamu, and Abeokuta, and they equipped business owners with the knowledge to navigate the digital economy. Participants were introduced to Alerzoshop, a mobile app that enhances their access to suppliers and facilitates secure, efficient, and seamless digital payments via Mastercard’s global network, and Veedez, a digital payment and business management tool with micro-lending services that provide vital financial support.
In addition, Alerzo introduced the Alerzo Stock Financing Program, which offers stock financing and micro-lending options to support business expansion through the Alerzoshop app.
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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Source: Legit.ng
