In a country where the informal economy accounts for nearly 90% of small and medium enterprises, integrating these businesses into the financial mainstream is crucial. The recently published “Informal Economy Report” highlights the significant strides made by Moniepoint, a leading financial service provider, in addressing the challenges faced by Nigeria’s informal businesses.
The report underscores the struggles of informal businesses with accessing banking services, funding, and necessary documentation. Historically, these enterprises have been excluded from formal banking systems, limiting their growth potential and ability to benefit from various government initiatives and external funding.
Download the full report Here
