eTranzact partners SMEDAN to expand digital access for SMEs
By Elizabeth Adegbesan
eTranzact International Plc has reiterated its commitment to supporting Micro, Small, and Medium Enterprises (MSMEs) through digital payment solutions. This reaffirmation comes as the company deepens its partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), aiming to promote financial inclusion.
The partnership was highlighted during the SMEDAN/eTranzact Town Hall Engagement, titled “Financial Literacy and Inclusion for MSMEs: Leveraging Fintech Innovation,” held in Lagos.
At the event, Abimbola Reis, Divisional Head of Merchant Services at eTranzact, emphasized the vital role of MSMEs in Nigeria’s economy, noting that the nation hosts nearly 40 million such enterprises that significantly contribute to job creation and economic growth.
Reis addressed the ongoing challenges faced by these businesses, including difficulties in accessing financing, inefficient payment systems, inadequate financial reporting, cash flow issues, and limited access to digital platforms.
“At eTranzact, we build infrastructure to help businesses grow,” Reis stated. “Many of our products are customized solutions tailored to the specific challenges businesses encounter. We innovate because we believe small businesses are accelerators of the economy.”
She highlighted two key offerings: Credo by eTranzact, a digital payment gateway that facilitates payment acceptance for merchants, SMEs, and informal-sector operators, and PocketMoni, a mobile money platform licensed by the Central Bank of Nigeria, which allows for money transfers, airtime, data purchases, and utility payments.
Professor Yinka Fisher, representing the Director-General of SMEDAN, noted the purpose of the town hall was to foster the development of practical solutions for MSMEs.
“The essence of this engagement is to share ideas and concepts that will help MSMEs thrive and expand. Our partnership with eTranzact is focused on broadening the horizons for MSMEs and ensuring their continued growth,” he stated.
Additionally, Dr. Praise Adedigba, speaking on behalf of the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), urged businesses to adopt digital capabilities and form strategic partnerships.
He asserted that strengthening MSMEs would lead to increased productivity, job creation, and overall national prosperity.
