MoMo PSB in partnership with the Nigerian Association of Small and Medium Enterprises (NASME) hosted a two-day symposium and exhibition on empowering nano and small businesses in Lagos State.
The event which was held on November 17 and 18 2023 at the Landmark Center Lagos, hosted a myriad of SME and trade Associations in Nigeria, including, the West African Association for Cross-Border Trade, in Agroforestry-pastoral, Fisheries Products and Food (WACTAF), Lagos State Council of Tradesmen and Artisans (LASCOTA), Nigerian Association of Small Scale Industrialists (NASSI), Coalition Network of Stakeholders in Agricultural Mechanisation (CONESAM), Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Royal Certification Limited and the Federal Ministry of Women Affairs.
In her opening remark, Elsa Muzzolini, Chief Commercial Officer, MoMo PSB, emphasised the significance of collaboration in expediting SME growth in Nigeria. “At MoMo PSB, we believe in co-creation and designing solutions that directly address the needs of our customers. Our partnership with NASME on the symposium and exhibition underscores our dedication to empowering nano and small businesses across Nigeria with MoMo solutions for merchants and customers.
MoMo for merchants started as a simple USSD solution for transactions and has evolved to a merchant application that caters to smartphone users, enabling transactions with or without internet connectivity.”
The event included training sessions fostering knowledge sharing between experienced coaches and SMEs. The topics covered a range of subjects such as finance management, compliance, security, and controls tailored to SMEs, along with discussions on harnessing digital tools for business expansion. Additionally, businesses from diverse industries showcased their products, aiming to gain more visibility and boost sales during the event.
“I am honoured to be part of this collaborative effort between MTN MoMo and NASME, symbolising a commitment to fostering growth, innovation, and connectivity within Small and Medium Enterprises”, said, Solomon Aderoju, Vice President, South West, NASME, who represented the president at the event.
He further spoke to the mutually beneficial nature of the exhibition saying, ‘This initiative aligns with the ‘One Billion Naira Youth and Women Empowerment Fund’ in achieving the Sustainable Development Goals for 2023. The overarching purpose of this event is to introduce and familiarise the NASME community with the MTN MoMo wallet and products, bridging the gap between innovative financial solutions and the dynamic needs of the SMEs.”
The event provided a comprehensive assessment, enabling the MoMo team to gain deeper insights into the specific requirements of SMEs. This analytical approach is expected to aid the fintech in addressing the needs of SMEs, ensuring a more seamless and tailored business transaction experience through the MoMo PSB.
Furthermore, the event was instrumental in introducing SMEs to the MoMo N40 Million Grant initiative. This program is designed to incentivise active merchants who actively transact on their MoMo wallet. The grant will encourage increased engagement and participation among SMEs while fostering a mutually beneficial relationship between MoMo PSB and its users. This strategic effort solidifies MoMo’s commitment to supporting and empowering SMEs within the business landscape.
