MoMo PSB Targets 20m SMEs for Financial Services
The Payment Unit of MTN , MoMo PSB, says it is targeting 20 million Nano and Small Medium Enterprise (SMEs) to provide financial services to enhance financial inclusion.
The Chief Commercial Officer of MoMo PSB, MTN, Ella Muzzolini, said this on the sideline of a two-day MoMo and NASME Symposium and Exhibition held on Saturday in Lagos.
According to Muzzolini, most Nano merchant are financially underserved because they wish to have access to some financial services such as loan but do not have access to such.
She said that MoMo PSB would onboard such Nano traders to access loan and other financial services.
“MoMo PSB is proposing a better solution to help businesses transact through their phones in simple transaction.
“We are targeting to have the small Nano merchants on the MoMo PSB because we believe that they are underserved in Nigeria.
“We want to first address those 20 million small retailers who love to be able to access international market, access loan but do not have access,’’ she said.
According to her, primarily the SMEs do not have access to the financial services so that is where MoMo would put effort in the next six months.
Muzzoloni said that the two days event had created a space of knowledge, monitoring , co creation.
She said that MTN and MoMo PSB believe in co creation and believe in designing that would help Nigerian to solve problems in their businesses and personal lives.
She, however, expressed excitement over the participation of the trade association saying it was beyond expectation.
Speaking at the event, the National President of Nigeria Association of Small and Medium Enterprises (NASME), Dr Abdulrashid Yerima, said that digital payment is the trend and leveraging MoMo would promote financial inclusion.
Yerima said that NASME need more empowerment , training, and capacity building is very in that regards.
Yerima was represented by the National Vice President, Mr Solomon Aderoju, who while appreciating MoMo team and MTN called for sponsorship of some of their programmes.
Day one of the event witnessed the unveiling of Merchant Incentives of N40m for traders.
MoMo PSB official, Adejumoke Aderogba educated the traders on the modalities of participating and benefiting from the incentives.
The participants were trained on business development and capacity building. Futureview US Dollar Fund Return Hits 7.42%
