MoMo PSB and SMEDAN Collaborate to Drive Digital Growth for Nigerian SMEs
MoMo Payment Service Bank (MoMo PSB), the fintech arm of MTN Nigeria, has entered into a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to accelerate digital adoption and financial inclusion among small and medium-sized enterprises (SMEs).
The partnership was formalised through a Memorandum of Understanding signed on Wednesday, February 3, at MoMo PSB’s headquarters in Victoria Island, Lagos. The agreement represents a coordinated effort to modernise how Nigerian entrepreneurs manage operations, access financial services, and scale sustainably.
Strengthening SME Access to Digital Financial Services
As part of the collaboration, SMEs registered under SMEDAN will gain access to MoMo PSB’s digital financial infrastructure through multiple platforms. These include mobile applications, POS terminals, USSD services, partner portals, and customised business tools.
This multi-channel approach is designed to ensure that businesses across different regions and levels of digital readiness can participate in the growing digital economy without barriers.
Centralized Tools for Business Management
Through MoMo PSB’s business solutions, participating merchants can manage key aspects of their operations from a unified platform. The system enables SMEs to:
Receive payments through various channels
Process staff salaries
Monitor tills and cash flow
Manage multiple outlets
Track daily business performance
By integrating these functions into one system, the platform reduces operational complexity and improves efficiency, allowing entrepreneurs to focus more on strategy and growth.
Market Access and Capacity Development
Beyond financial transactions, the partnership provides SMEs with access to wider market opportunities within the MoMo PSB and MTN ecosystem. Participating businesses will benefit from exposure to new customers, business development support, and capacity-building programmes.
These initiatives are aimed at strengthening internal systems, improving competitiveness, and preparing SMEs for long-term sustainability in an increasingly digital marketplace.
Leadership Perspectives on the Partnership
Commenting on the collaboration, Usoro Usoro, Executive Director, Strategy and Innovation at MoMo PSB, emphasised the company’s commitment to SME development.
This partnership with SMEDAN reflects our commitment to supporting small and medium-scale businesses with tools that help them operate more efficiently and unlock new growth opportunities. Through the MoMo PSB Business App, we’re making it easier for entrepreneurs to manage payments, increase revenue, and focus on growing their businesses profitably.
Charles Odii, Director General and Chief Executive Officer of SMEDAN, highlighted the importance of accessibility and impact in financial support.
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.
Extending Benefits Beyond the SMEDAN Network
While the initiative primarily targets SMEs registered with SMEDAN, MoMo PSB has confirmed that its digital tools are available to small businesses nationwide. This broader access reinforces the company’s mission to promote inclusive economic participation and reduce financial exclusion.
Entrepreneurs across Nigeria can leverage these platforms to improve efficiency, strengthen cash flow management, and expand their customer base.
Advancing Financial Inclusion Through Strategic Partnerships
MoMo PSB continues to position collaboration as a central element of its growth strategy. By working closely with government agencies and industry stakeholders, the company aims to close existing gaps in access to finance, technology, and business support.
The partnership with SMEDAN reflects a shared vision of building a more resilient and digitally empowered SME sector.
Read More: MTN MoMo Processes $2.1 Billion in Remittances
Building a Sustainable Digital SME Ecosystem
The alliance between MoMo PSB and SMEDAN represents a significant step toward transforming Nigeria’s small business landscape. By combining regulatory reach, digital infrastructure, and capacity development, the partnership offers a scalable model for sustainable enterprise growth.
For SMEs facing rising operational costs, limited financing options, and increasing competition, this initiative provides practical tools and institutional support to thrive in a digital-first economy.
