Key Developments

Mastercard teams up with Nigerian B2B e-commerce platform Alerzo to digitize African SMEs

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Mastercard has partnered with Alerzo, a fast-growing Nigerian startup based in Lagos, to digitize African SMEs.

The collaboration aims to drive financial inclusion and support the growth of Small and Medium-sized Enterprises (SMEs) through digital transformation.

The partnership between Mastercard and Alerzo seeks to address the challenges faced in accessing financial services and embracing digital technology.

SMEs play a crucial role in Africa’s economic development, but many of them have been constrained by limited access to formal financial services, hindering their growth potential.

Through this alliance, Mastercard and Alerzo aim to empower SMEs with the necessary tools and resources to harness the benefits of digitization fully.

By digitizing their operations, SMEs can enhance efficiency, reach a broader customer base, and streamline their financial transactions, ultimately driving growth and contributing to economic prosperity.

Alerzo has developed a comprehensive suite of digital financial services explicitly tailored for African SMEs. These services include digital payments, invoicing solutions, inventory management, and data analytics, all designed to simplify business operations and enhance financial transparency.

The strategic partnership will enable Alerzo to leverage Mastercard’s vast global network and expertise in digital payments to scale its offerings and reach a more extensive SME audience across Africa.

Through the digital solutions offered by Alerzo and Mastercard, SMEs will gain better access to formal financial services, enabling them to build credit histories and access credit facilities, which are essential for business growth.

As more SMEs adopt digital tools for their business operations, the overall business landscape in Africa is expected to become more vibrant and dynamic.

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