Telecom
Mastercard Partners with Alerzo to Digitize SMEs in the Nigerian FMCG Space
Mastercard, a global leader in financial services, has joined forces with Alerzo, Nigeria’s leading technology service provider, to address the challenges faced by small and medium-sized enterprises (SMEs) in Nigeria’s Fast-Moving Consumer Goods (FMCG) sector.
L-R: Tania Kruger, Vice President, Product Development/SME Head, Eastern Europe Middle East & Africa (EEMEA), Mastercard; Folarin Alayande, Vice President, Business Development, Government, Mastercard; Adewale Opaleye, CEO, Alerzo & Harish Venkatesh, President & CFO, Alerzo at the Mastercard and Alerzo MOU signing event in Lagos on July 24, 2023.
This partnership aims to empower businesses by offering digital payment solutions, financial training, and access to credit, ultimately leading to increased sustainability and success in the market.
Alerzo’s expertise in B2B e-commerce and Mastercard’s global infrastructure and network will be leveraged to make digital payments more accessible to businesses of all sizes. Through this partnership, a range of innovative solutions will be offered, including VeedezPay, a digital payment solution designed for informal and small businesses, VeedezPro, a comprehensive business management tool tailored for SMEs and ERP solutions for more established businesses. Additionally, micro-lending services will be made available to businesses using the VeedezPay and VeedezPro solutions.
The lack of digitization has been a major obstacle for SMEs in Nigeria, hindering their ability to tap into new sales opportunities, track sales and inventory, and access credit to grow their businesses. With the Alerzo-Mastercard partnership, these challenges will be addressed through a comprehensive approach that aims to equip 1,000,000 SMEs in Nigeria with valuable knowledge and skills through financial training within the next 5 years. This effort will accelerate the adoption of digital payments and encourage the use of financial solutions nationwide.
Speaking on this partnership and providing support to small businesses, Adewale Opaleye, Chief Executive Officer of Alerzo Limited, said, “We’re excited to partner with Mastercard to support the growth and success of SMEs in Nigeria. With our combined expertise and resources, we look forward to continuing to provide training, financial support, and innovative payment solutions to businesses in Nigeria. These solutions could be a game-changer, especially for our informal retailers, who often get overlooked.”
“Nigerian small businesses have proved their resiliency in recent years, but still face many pressures to remain profitable. Through our partnership with Alerzo, we are excited to combine our expertise and resources to drive digital transformation and financial inclusion, providing training and solutions that enable Nigerian businesses to thrive,” said Ebehijie Momoh, Country Manager and Area Business Head, West Africa at Mastercard. Momoh further added, “This collaboration will play a crucial role in digitizing payments and supporting the growth and success of Nigerian businesses.”
SMEs and informal retailers will benefit from the low-cost acceptance solutions provided by the partnership, such as Tap on Phone, QR, Pay-By-Link, and Payment Gateway Service. Businesses can sign up for VeedezPay and VeedezPro, available for download on the App Store and Google Play, to start accepting digital and contactless payments immediately. Established businesses can inquire about the ERP solution, which offers integrated business management tools along with the above features.
Access to credit is crucial for businesses to grow, and the Alerzo-Mastercard partnership aims to address this need. Micro-lending solutions will be initially available to informal retailers through the Alerzoshop B2B commerce application, providing them with financial support to expand and take advantage of new opportunities.
The impact of this partnership extends beyond individual businesses. By empowering SMEs and informal retailers, millions of people who rely on their small businesses to support themselves and their families will experience positive changes.
Nigeria’s technology company, Globacom, has extended warm felicitations to Nigerians on the occasion of the 2024 Christmas celebrations.
In a goodwill message released in Lagos, Globacom urged Nigerians to embrace the spirit of love and kindness during the festive season, especially in the face of prevailing economic challenges.
The company emphasized the importance of practicing the teachings of Jesus Christ, particularly the virtues of obedience to God and loving one’s neighbor as well.
“Christ taught many virtues including obedience to God and loving one’s neighbour as oneself”, the company said, adding, “Now is the apt time to practise these teachings by sharing with the needy”.
Globacom also encouraged Nigerians to extend the conviviality of Christmas beyond the festive season by fostering love, peace, and harmony, as demonstrated by God through the birth of Jesus Christ.
Assuring its customers of uninterrupted services throughout the Yuletide period and beyond, Globacom urged them to take advantage of its innovative products and services to stay connected and share the memories of the season with loved ones.
Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.
The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.
They also ordered that post-API debts be settled before December 31, 2024.
The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”
The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.
The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.
“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.
“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.
“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”
According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.
CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.
The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.
This implies that any session lasting less than ten seconds will not be billable.
The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”
Nigerian Communications Commission (NCC) has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the Application-to-Person messaging sector.
The telecom regulator made this announcement in a statement.
The proposed framework, which was introduced during a virtual Stakeholders’ Forum, is said to be a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.
The draft framework, presented by Aminu Maida, executive vice chairman, NCC, who was represented by Chizua Whyte, NCC’s acting head of legal and regulatory services, seeks to regulate the A2P messaging space.
The A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.
However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.
“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.
The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.
“This forum marks a pivotal step towards addressing these challenges. We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”
The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.
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