In a strategic move to eliminate operational friction for small businesses, MoMo Payment Service Bank (MoMo PSB) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have announced a landmark partnership. The collaboration aims to provide registered SMEs with a suite of digital tools designed to streamline payments, manage staff, and enhance overall business efficiency.
By integrating SMEDAN’s massive network of entrepreneurs with MoMo PSB’s (a subsidiary of MTN) robust financial infrastructure, the initiative seeks to transition millions of businesses from manual to digital operations.
1. The Digital Toolkit for Merchants
Participating SMEs will gain access to an integrated platform—accessible via the MoMo PSB Business App, USSD, and POS terminals—offering several core functionalities:
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Multi-Channel Payments: Ability to accept customer payments through various digital touchpoints.
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Payroll Management: A simplified system for paying staff salaries directly from the business wallet.
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Operational Oversight: Tools to manage “tills” (cash registers), oversee multiple shop locations, and track inventory from a single dashboard.
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Ecosystem Access: Inclusion in the broader MTN and MoMo market ecosystem for increased brand visibility.
2. Strategic Leadership Perspectives
The partnership focuses on making financial services “invisible” so that entrepreneurs can focus on their core craft.
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MoMo PSB (Usoro Usoro): Highlighted that the Business App is specifically designed to help entrepreneurs manage payments and “focus on growing their businesses profitably.”
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SMEDAN (Charles Odii): Emphasized that the goal is to “remove friction” and ensure financial support reaches small businesses in a simple and transparent manner.
3. Open Access Policy
While the partnership specifically targets the SMEDAN ecosystem, the officials clarified that all Nigerian SMEs, regardless of their registration with SMEDAN, can access these MoMo PSB growth tools to improve their financial health and operational transparency.
Partnership Snapshot: Impact Areas
“This partnership is about removing friction and making sure financial support reaches small businesses in a way that is simple, transparent, and built for real impact.” — Charles Odii, DG/CEO of SMEDAN.
