Mastercard and Alerzo Collaborate to empower SMEs in the FMCG sector
To solve the difficulties faced by SMEs in Fast Moving Consumer Goods FMCG sector, Mastercard, a major participant in the financial services industry, has partnered with Alerzo, the nation’s top technological service provider. By providing digital payment options, financial education, and loan access, this alliance intends to empower businesses, which will ultimately boost their viability and success in the market.
Business of all sizes will be able to use digital payments more easily because to Alerzo’s experience with B2B e-commerce and Mastercard’s extensive worldwide infrastructure and network. A variety of cutting-edge technologies will be made available through this cooperation, including VeedezPay, a digital payment solution made for small and independent firms, VeedezPro, a comprehensive business management tool made for SMEs, and ERP solutions for more established companies. Additionally, businesses employing the VeedezPay and VeedezPro systems will have access to micro-lending options.
The absence of digitization has been a significant barrier for SMEs in Nigeria, making it difficult for them to acquire loans, track sales and inventory, and tap into new sales opportunities. In order to overcome these difficulties, the Alerzo-Mastercard cooperation will take a holistic strategy with the goal of providing financial training to 1,000,000 SMEs in Nigeria over the course of the following five years. This initiative will boost the usage of financial solutions across the country and hasten the implementation of digital payments.
Adewale Opaleye, the Chief Executive Officer of Alerzo Limited, commented on this collaboration and supporting small businesses, saying, “We’re thrilled to join with Mastercard to assist the growth and success of SMEs in Nigeria. We look forward to continuing to offer education, funding, and cutting-edge payment solutions to businesses in Nigeria with our combined experience and resources. These alternatives may completely alter the game, especially for our informal retailers who are frequently disregarded.
Nigerian small businesses have recently shown their resilience, but they still face a lot of pressure to continue making money. According to Ebehijie Momoh, Country Manager and Area Business Head, West Africa at Mastercard, “We are excited to combine our expertise and resources through our partnership with Alerzo to drive digital transformation and financial inclusion, providing training and solutions that enable Nigerian businesses to thrive.” In addition, Momoh stated that “this collaboration will play a crucial role in digitising payments and supporting the growth and success of Nigerian businesses.”
For businesses to expand, access to financing is essential, and this need is what the Alerzo-Mastercard alliance seeks to meet. Through the Alerzoshop B2B commerce application, micro-lending solutions will initially be made available to informal shops, giving them the financial support they need to grow and seize new chances. This relationship has an effect that goes beyond certain companies. Millions of people who depend on their small businesses to support themselves and their family will see good improvements as a result of strengthening SMEs and unofficial shops.
