Mastercard Partners with Alerzo to Drive Digital Transformation for Nigerian MSMEs
Mastercard has teamed up with Nigerian B2B e-commerce company Alerzo and the USAID-funded e-Trade Alliance to accelerate the digital transformation of micro, small, and medium enterprises (MSMEs) in Nigeria. This initiative aims to empower over 10,000 small businesses by the end of the year, promoting financial inclusion and sustainable growth.
The partnership introduces innovative digital solutions, including Alerzoshop, a digital B2B marketplace, and Veedez, a tool for digital payments and business management. These are complemented by Mastercard’s advanced payment solutions such as Tap to Pay, QR codes, and Payment Gateway Services. Together, these technologies address critical challenges faced by Nigerian MSMEs, including cumbersome supply chains, manual inventory processes, and limited financial service access.
Announced by Mastercard’s West Africa Country Manager, Folasade Femi-Lawal, and Alerzo CEO, Adewale Opaleye, this collaboration aligns with Mastercard’s global objective of integrating one billion individuals and 50 million micro and small businesses into the digital economy by 2025.
“Mastercard is committed to driving financial inclusion and empowering small businesses worldwide. Our collaboration with Alerzo, and the e-Trade Alliance in Nigeria provides MSMEs the digital tools and resources needed to thrive in today’s digital economy. By facilitating seamless digital payments and offering comprehensive business management solutions, we are fostering a more inclusive financial ecosystem and driving innovation and growth within the sector. This collaboration demonstrates the immense possibilities that can be unlocked through the power of public-private partnerships,” said Folasade Femi-Lawal, country manager, West Africa, Mastercard.
Alerzoshop enables MSMEs to stock up using their phones, enhancing their access to suppliers and facilitating secure, efficient and seamless digital payments via Mastercard’s global network. Veedez on the other hand is redefining how small businesses operate by helping them digitize processes, unlock new sales opportunities, and increase revenue, with micro-lending services providing vital financial support.
Adewale Opaleye, CEO, Alerzo Limited, added:
“We are delighted to collaborate with Mastercard, and e-Trade Alliance for this digital transformation project in Nigeria. As the leading partner of choice for informal retailers and MSMEs, we recognize our responsibility to introduce digital retail solutions that will strengthen the economy and facilitate the adoption of a cashless society for the collective benefit of all. This initiative is part of our commitment to connecting millions of MSMEs in Nigeria to a world where digital connectivity is integrated into their businesses, making them more profitable and fulfilling.”
In addition to digital infrastructure enhancements, the initiative offers financial and digital training designed to equip MSMEs with the tools needed for seamless payment processing via Mastercard’s network. By fostering a more inclusive financial ecosystem, the partnership highlights the transformative impact of collaborative efforts in driving economic development in Nigeria.
