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.
Kashifu Inuwa, director general of the National Information Technology Development Agency (NITDA) has said that the transformative potential of emerging technologies is vital in revolutionising trade and investment across Africa.
Director General of NITDA Kashifu Inuwa CCIE represented by Director of the Digital Economy Development, Engr. Salisu Kaka, presenting a cash prize of N10million to Get AI under the Regulatory Sandbox category, during the closing ceremony of the Nigeria AfCFTA Hackathon 2025 during the Science of Trade Conference in Lagos.
He said this while delivering a keynote address at the Nigeria AfCFTA Hackathon 2025, held as part of the Science of Trade Conference in Lagos State, highlighting how digital innovation can drive efficiency, inclusivity, and sustainable economic growth.
The DG who was represented by Engr. Salisu Kaka, Director of Digital Economy Development Department, stated that the African Continental Free Trade Area (AfCFTA) is one of the largest free trade zones globally, uniting over 1.4 billion people with a collective GDP exceeding $3 trillion.
He described the recent adoption of the AfCFTA Digital Trade Protocol as a pivotal milestone that will break down trade barriers, streamline regulations, and open new markets for businesses of all sizes.
“Nigeria, with its population of over 200 million and strong entrepreneurial culture, is uniquely positioned to lead Africa’s digital transformation”, he said.
While pointing out the rise of e-commerce and mobile payments as game changers, Inuwa said “From Abuja, I can order products online, conduct due diligence, make payments, and receive deliveries—technology has made trade seamless.”
“This Hackathon arrives at a crucial time following the African Union’s 2024 endorsement of the Digital Trade Protocol. It aims to harmonise digital regulations and eliminate trade barriers across all 54 African nations,” he added.
Inuwa stressed that while global technological advances have reshaped commerce, many African trade systems are still burdened by outdated procedures, excessive paperwork, and logistical bottlenecks. But a shift is underway, powered by innovations such as blockchain, AI, IoT, and digital platforms, which are now central to trade operations.
He cited the success of Nigeria Customs Service (NCS) in leveraging technology through the Nigeria Integrated Customs Information System (NICIS II), which automated key processes like declarations, cargo tracking, and risk assessment—leading to a 238% revenue increase between 2017 and 2023.
The Unified Customs Management System, introduced in December 2024 as a successor to NICIS II, has already generated over ₦31 billion, showcasing Nigeria’s progress in digital trade facilitation.
The Hackathon is structured around five priority areas: Youth and MSME Inclusion, E-Commerce Adoption, E-Commerce Policy and Trust, Digital Payments, and the E-Commerce Regulatory Sandbox.
These are sectors where digital tools can significantly enhance trade dynamics.
“I’m confident that the Hackathon will spark innovative, scalable solutions to boost intra-African e-commerce, streamline cross-border transactions, and empower MSMEs with digital capabilities to compete globally,” Inuwa stated.
He described the event as a springboard for innovations that will simplify payments, promote inclusion, and reinforce Nigeria’s leadership in actualising the AfCFTA digital economy framework.
In his welcome address, Dr. Olusegun Awolowo, National Coordinator of the Nigeria AfCFTA Coordination Office—represented by Olusegun Olutayo, Senior International Trade Policy and Law Expert, emphasised that transformation is a continuous journey.
He highlighted the continent’s focus on collaboration, innovation, and inclusive growth as essential to establishing Africa as a hub for digital trade.
Awolowo reaffirmed the transformative potential of the African Continental Free Trade Area (AfCFTA), emphasising that it presents Africa as a unified market of over one billion people—a vast opportunity for intra-African trade, investment, and economic growth.
He stressed that realising this vision requires active participation and shared ownership.
According to him, the Hackathon is a tangible mechanism for implementing the AfCFTA Digital Trade Protocol—prioritising inclusion, innovation, and equitable access.
It is expected to generate actionable solutions that bridge policy and practice, accelerating Africa’s digital economy and empowering the next generation of African innovators.
The recent success of the Shanghai Motor Show is a strong indicator of the growth of the Chinese automotive sector, particularly in terms of electric cars and onboard intelligence.
Of the 90 million vehicles (cars, trucks, and buses) produced worldwide in 2024, 31.3 million were produced in China, i.e. 34% of the glob al total, according to an Inovev report.
France is also following this trend, with many consumers now opting for cars from Chinese brands such as BYD, Xpeng, Beiking and Hongqi.
Against this backdrop, Sophos, a global leader of innovative security solutions for defeating cyberattacks, is drawing users’ attention to how their personal data could be used for malicious purposes. Indeed, it is inadvisable to synchronize one’s phone or any other device with a vehicle, whether their own or even more so in the case of a rental car, as the car could use its internet connectivity to make a copy of contacts and other sensitive data and upload to the Internet, long before one have the ability of deleting it when returning the rental car, for example.
A modern vehicle is packed with computers, lidars, various radios, and external cameras. What’s more, it is also equipped with aerial updating capabilities that could very well be repurposed as a surveillance platform.
According to Nate Drier, Technical Lead, Red Team, Sophos: “As with any technology, given the opportunity, necessity, intent, and capability, in-vehicle technology can be misused.
Car manufacturers can track the movements of modern vehicles in real time, and this is likely to be even truer for electric vehicles.
“Yet this information could be used to build rich maps of an environment encompassing both the physical and electromagnetic environment (by searching for Wi-Fi networks, the positions of cell phone towers, etc.).”
Sophos, therefore, recommends being aware and checking what manufacturers are collecting on vehicles, and what they can do using over-the-air update capabilities.
Federal Government of Nigeria has approved the launch of the NIMC NIN Authentication for a secure and seamless identity verification and authentication, even as President Bola Ahmed Tinubu, directed the use of NIN Authentication for verification and authentication across Ministries, Departments and Agencies (MDAs).
This is In line with the Commission’s mandate of regulating a reliable National Digital Identity for citizens and legal residents to affirm their identity
The launch of the “NIN Authentication (NINAuth),” a cutting-edge suite of services that include web, API and mobile verification designed to enhance data security, protect privacy, and simplify access to government services, is part of President Tinubu, Renewed Hope Agenda on strengthening the National Identity Management System.
The NIMC NINAuth application is the official service for integration with the Commission’s backend infrastructure.
It Introduces a robust layer of protection, empowering individuals with greater control over their personal information.
By requiring explicit consent before data is shared for Know Your Customer (KYC) processes or other verifications, the platform fosters trust, transparency, and user autonomy in digital identity management.
With NINAuth, individuals can securely verify their identity and access key government services, including:
• Sim registration and replacement
• Immigration applications and passport processing
• Tax filings and financial transactions
• Government Intervention Programs in various MDAs
• Driver’s license renewals and other regulatory processes, etc,.
Key Features and Benefits include:
• Enhanced Security—Protects personal data from unauthorized access.
• User Control—Empowers individuals with the freedom to manage their data-sharing preferences.
• Seamless Access—provides a secure single sign-on solution for convenient access to services.
This innovation reaffirms NIMC’s commitment to advancing secure and efficient digital identity management, ensuring a more accessible, transparent, and secure identity verification system in Nigeria.
The NINAuth application provides a secure, scalable, and interoperable interface for identity verification through API integration.
It is designed to facilitate real-time authentication of NIN records, thereby promoting effective service delivery, database harmonization, and compliance with the National Identity Policy of the Federal Government of Nigeria.
The NINAuth service has been designated as the exclusive platform for all NIN-based verification and authentication integration processes for optimal services.
Nigerians are required to download the NINAuth App on Google Play Store and Apple iOS App Store to use the NIN Authentication Service.
The implementation guide and process flow of the NIMC NIN Authentication are available at https://ninauth.nimc.gov.ng.
Experts Urge Adoption of Digital Tools to Strengthen Nigeria’s Compliance Culture
Afreximbank to Fund African Energy Bank with $19bn
Firm Finds Leaked Netflix, Roblox and Discord Accounts Registered on Corporate emails
How Emerging Technologies Are Reshaping Trade – NITDA DG
Naira Gains Strength, Hits N1,600/$ in Parallel Market
E-Business3 days agoExpert Urges FG to Leverage Digital Assets to Drive Diversification Goal
General News3 days agoSeamlessHR, AOPN Push Payroll Innovation for Nigeria’s Outsourcing Growth
General News3 days agoFG Faults AfDB’s Adesina on Nigeria’s GDP Per Capita Figures
News3 days agoCabals Still Fighting our Refinery – Dangote
E-Financial3 days agoFirst Asset Management Surpasses ₦1 Trillion in Assets Under Management
Telecom3 days agoTelcos Plan Zero Tariff in Some Regions with Low Opex
E-Financial2 days agoCBN Spending on Naira Printing, Distribution up by 306 Percent
Telecom3 days agoAVEVA Appoints Sébastien Ory as EMEA VP Partners & Channels