Nigeria’s SMEs get digital push as eTranzact partners with SMEDAN

For millions of Nigerian small-business owners, accepting payments, managing cash flow and keeping proper financial records can be as important as finding customers.

Yet many still operate with limited access to formal financial services and digital tools. 

That gap is drawing more attention as Nigeria looks to strengthen its small-business sector and expand financial inclusion.

The World Bank says most Nigerian businesses are MSMEs, but fewer than one in 20 have access to bank credit, leaving many entrepreneurs dependent on short-term or informal sources of funding. 

Against that backdrop, eTranzact International Plc is deepening its partnership with the Small and Medium Enterprises Development Agency of Nigeria, or SMEDAN, to help businesses make better use of digital payments and financial services. 

The companies’ latest engagement brought entrepreneurs and industry stakeholders together in Lagos for a town hall focused on financial literacy and inclusion.

The discussion centered on how fintech can help small businesses manage everyday transactions and build more sustainable operations.

Digital payments for small businesses 

Speaking at the SMEDAN/eTranzact Town Hall Engagement, themed “Financial Literacy and Inclusion for MSMEs: Leveraging Fintech Innovation,” eTranzact Divisional Head of Merchant Services Abimbola Reis said Nigeria’s nearly 40 million SMEs remain important to job creation and economic activity. 

She said many businesses still struggle with access to finance, inefficient payment systems, poor financial records and cash flow problems.

“At eTranzact, we build infrastructure to help businesses grow,” Reis said, adding that the company develops solutions around the specific needs of businesses.

Fintech tools target everyday needs 

Reis highlighted Credo by eTranzact, a digital payment gateway that allows merchants and small businesses to accept payments, as well as PocketMoni, the company’s Central Bank of Nigeria-licensed mobile money platform. PocketMoni supports transfers, airtime purchases and bill payments. 

Representing SMEDAN Director-General Charles Odii, Prof. Yinka Fisher said the engagement was intended to produce practical ideas that can help MSMEs grow.

Dr. Praise Adedigba, representing the NACCIMA director-general, also urged businesses to adopt digital tools and build partnerships that can improve productivity and create jobs.

eTranzact’s role in Nigeria’s digital economy 

eTranzact International Plc is a Nigerian electronic payments company that provides payment processing and digital financial services.

Its PocketMoni platform offers mobile money services and is licensed by the Central Bank of Nigeria. 

The company is expanding its financial inclusion work beyond major cities, including a recent initiative in Ogun State that involved onboarding more than 1,000 agents and deploying PocketMoni terminals in communities. 

For SMEDAN, the wider goal is to give Nigerian entrepreneurs better access to knowledge, funding, tools and markets — areas the agency identifies as central to MSME development