eTranzact partners SMEDAN to expand digital access for SMEs

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By Elizabeth Adegbesan

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eTranzact International Plc has reaffirmed its commitment to supporting Micro, Small and Medium Enterprises, MSMEs, through digital payment solutions, as it deepens its partnership with the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, to promote financial inclusion.

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The commitment was made at the SMEDAN/eTranzact Town Hall Engagement, themed, “Financial Literacy and Inclusion for MSMEs: Leveraging Fintech Innovation,” in Lagos.

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Speaking at the event, Divisional Head, Merchant Services, eTranzact, Mrs. Abimbola Reis, described MSMEs as the backbone of Nigeria’s economy, noting that the country has almost 40 million SMEs contributing significantly to growth and job creation.

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She said many businesses still face challenges including access to finance, inefficient payment systems, poor financial reporting, cash flow constraints and limited access to digital platforms.

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“At eTranzact, we build infrastructure to help businesses grow. A lot of our products are customised solutions because we look at the specific challenges businesses are facing. We innovate because we believe small businesses are accelerators of the economy,” she said.

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Reis highlighted Credo by eTranzact, a digital payment gateway that enables merchants, SMEs and informal-sector operators to accept and process payments, as well as PocketMoni, the company’s CBN-licensed mobile money platform for money transfers, airtime and data purchases and utility payments.

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Representing SMEDAN Director-General, Prof. Yinka Fisher said the town hall was designed to generate practical solutions for MSMEs.

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“The essence of this engagement is to share ideas and concepts that will help MSMEs thrive and expand. Our partnership with eTranzact is about expanding the frontiers of MSMEs and ensuring they continue to grow,” he said.

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Also speaking, Dr. Praise Adedigba, representing NACCIMA Director-General, said businesses must embrace digital capabilities and strategic partnerships.

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He said stronger MSMEs would translate into higher productivity, more jobs and shared national prosperity.

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