SMEDAN Partner Abaachatpay To Provide Fintech Solutions To MSMEs

SMEDAN Partner Abaachatpay To Provide Fintech Solutions To MSME

The Small and Medium Enterprises Development Agency of Nigeria said it has discovered that one of the greatest challenges faced by Nigerian MSMEs is inability to tap into the potentials provided by Digital Technologies.

The Chief Strategy Officer to the DG, Mr Onesi-Lawani Daberuje stated this at an exploratory meeting with the Management and Board of Abaachatpay, who visited the Agency to seek for collaboration. According to Mr Daberuje, the Nigerian MSMEs are lagging behind on so many fronts not because they are not hardworking but they have not been able to connect with global trends.

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He pointed out that despite the so many natural resource in the country, Nigeria has not been very forthcoming even at the regional level. He added that the Africa Continental Free Trade Agreement has huge potentials but our MSMEs are not in the top 10 exploiting it largely because of inadequate information on fintech solutions available.

Abaachatpay team promised to make the platform user friendly and cost friendly to the MSMEs. They pointed out that the 39.6million MSMEs enumerated in the last Survey by SMEDAN and National Bureau of Statistics will be provided with adequate fintech solutions that will translate to access to global market, simplified and reliable payment solutions while they have fun chatting with family, friends and clients.

A team was set up comprising of members from the two bodies to examine the workability of the proposed collaboration and how it can be more beneficial to the MSMEs.

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Moshood Lawal
Head, Corporate Affairs SMEDAN