MoMo and NASME Join Forces to Empower Lagos SMEs with N40 Million Grant Initiative: A Boon for Nigeria’s Business Landscape
Lagos, Nigeria – A transformative initiative is stirring excitement within the Nigerian SME community. MoMo Payment Service Bank (PSB) and the Nigerian Association of Small and Medium Enterprises (NASME) have announced a N40 million grant program, specifically targeting micro and small businesses in Lagos.
This ambitious collaboration aims to provide crucial financial support and empower these vital players in the country’s economic engine.
A Catalyst for Growth and Prosperity:
The unveiling of this grant initiative took place during a two-day symposium held on November 17 and 18, 2023, at the Landmark Center Lagos. It served as a powerful gathering point for various SME and trade associations across Nigeria.
Elsa Muzzolini, Chief Commercial Officer at MoMo PSB, shed light on the program’s core objective: rewarding active merchants who leverage their MTN MoMo wallets for transactions.
This strategic move seeks to boost SME engagement with MoMo, fostering a mutually beneficial relationship.
Collaboration for a Sustainable Future:
Abdulrasheed Yerima, President of NASME, represented by Vice President (South-West) Solomon Aderoju, lauded this collaborative effort. He underscored its alignment with the “One Billion Naira Youth and Women Empowerment Fund” and its crucial role in achieving the Sustainable Development Goals for 2030.
This partnership resonates with the shared vision of propelling growth, innovation, and connectivity within the SME sector.
Beyond Financial Support: Knowledge is Power:
The symposium transcended mere financial incentives. It provided a valuable platform for knowledge exchange through specialized training sessions.
Experienced coaches equipped SMEs with practical skills in finance management, compliance, security, and leveraging digital tools for business expansion.
This knowledge-sharing exercise empowered attendees to refine their operations and unlock new avenues for growth.
Showcasing Potential, Fueling Visibility:
The event wasn’t limited to theory. It also provided a vibrant platform for businesses from diverse industries to showcase their products and services.
This exposure fueled valuable networking opportunities and opened doors to potential sales channels, thereby amplifying brand visibility and promoting sustainability.
Digital Finance: A Driving Force for SME Success:
MoMo’s N40 million grant initiative is a testament to the transformative power of digital financial services. By incentivizing the use of their platform and focusing on tailored business solutions, MoMo PSB is actively contributing to the evolution and success of Nigerian SMEs.
This forward-thinking approach positions the bank as a key player in shaping the future of small businesses in the country.
Moving Forward: A Partnership that Propels Progress:
The MoMo-NASME collaboration embodies the dynamic nature of Nigeria’s business ecosystem. It highlights the growing significance of digital financial solutions in empowering SMEs, ultimately fueling their growth and contributing to the nation’s broader economic prosperity.
This initiative is poised to have a significant impact on the Lagos SME landscape, providing the tools and resources needed for these vibrant businesses to thrive and flourish.
In conclusion, the MoMo-NASME partnership offers a beacon of hope for SMEs in Lagos and beyond. The N40 million grant initiative, coupled with knowledge-sharing initiatives and a commitment to digital inclusion,