SMEs employ the majority of people on the continent. However, they face numerous challenges, including limited access to capital, markets, and digital resources, which hampers their growth and ability to scale. Addressing these challenges is essential for achieving sustainable socioeconomic development in Africa.

On October 16, Littlefish announced a partnership with Visa to enhance digital experiences for businesses, providing advanced solutions for both in-store and online transactions. The omnichannel platform offering business solutions to financial institutions aims to empower micro, small, and medium-sized enterprises (MSMEs) across Africa.

Co-founder and CEO of Little Fish Brandon Roberts noted the importance of delivering “a seamless, cost-effective digital platform that empowers financial institutions to support sustainable growth in the MSME sector.”

The partnership also integrates Visa's CyberSource system, enhancing secure payment processing and opening the door for future products like remittance flows, lending, and loyalty programs. This collaboration marks a crucial step towards digital transformation for MSMEs in Africa, making commerce more efficient and accessible across the continent.

According to Forbes Africa, citing the World Economic Forum, MSMEs account for around 80% of businesses and more than 50% of the GDP in Africa. This underscores their importance to economic stability and job creation. However, these businesses often struggle with limited access to digital payment solutions and financial tools, which can hinder their growth potential.

As cash transactions continue to dominate daily business in Africa despite global digital payment trends, this collaboration addresses a significant gap. Visa and Littlefish will offer innovative payment solutions through traditional POS systems, mobile POS, Tap2Phone, and e-commerce channels, coupled with value-added services designed to streamline MSME operations and support growth.

Hikmatu Bilali