Many small businesses still operate in cash-based systems with limited access to digital financial services. This initiative ensures that more businesses can participate in the digital economy, improving efficiency and security.

Payments technology company Flutterwave has partnered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to enhance digital payment solutions for micro, small, and medium enterprises (MSMEs) across the country. This collaboration aims to provide businesses with the tools they need to thrive in an increasingly digital economy.

Flutterwave CEO Olugbenga ‘GB’ Agboola emphasized the company’s dedication to supporting Nigerian businesses. “As a business with Nigerian roots, we understand the challenges that small businesses face daily. This partnership ensures they have the financial tools they need to succeed in today’s digital economy.” By leveraging Flutterwave’s technology, MSMEs will be better equipped to navigate the evolving business landscape.

Aligned with SMEDAN’s Grow Nigerian initiative, the partnership will provide MSMEs with secure digital storefronts, seamless payment solutions, and improved financial access. Through this, businesses will be able to accept payments globally via mobile wallets, card payments, and bank transfers enhancing their reach and competitiveness.

Highlighting the impact of this initiative, SMEDAN Director-General and CEO Charles Odii noted, “One of the biggest challenges MSMEs face is access to digital tools, financial resources, and training that can help them scale. With Flutterwave as our partner, we have a solid ally providing Nigerian businesses with innovative solutions that will enable them to compete effectively on a global scale.”

Building on its longstanding support for small businesses, Flutterwave has consistently introduced initiatives such as the Flutterwave Store, small business grants, annual trade fairs, and the ‘Keeping the Lights On’ campaign, which has helped thousands of businesses remain operational despite economic challenges. The partnership with SMEDAN further strengthens Flutterwave’s commitment to empowering entrepreneurs.

This latest development follows NITDA’s February announcement of a partnership with Flutterwave, Alami a fintech offering sharia-compliant financing for SMEs and SMEDAN. Together, these initiatives signal a broader push toward digital and financial inclusion for small businesses in Nigeria.

The significance of this collaboration is further underscored by the role SMEs play in Nigeria’s economy. According to the International Labour Organization (ILO) Country Office in Nigeria, SMEs contribute 48% of the national GDP, make up 96% of all businesses, and provide 84% of employment. As digital solutions become increasingly critical to business success, partnerships like this one will help ensure that Nigerian MSMEs remain competitive and continue to drive economic growth.

Hikmatu Bilali