Digital transformation for MSMEs for economic growth in south-west Nigeria

Alerzo, a Nigerian technology service provider, in collaboration with Mastercard and the USAID-funded e-Trade Alliance, has empowered over 10,000 micro, small, and medium-sized enterprises (MSMEs) in South-West Nigeria with innovative digital tools.

The nine-month initiative addressed critical challenges in the informal sector, including inefficient supply chains, manual inventory management, and limited financial access. By leveraging cutting-edge solutions such as Alerzoshop a digital B2B marketplace and Veedez, a business management tool offering micro-lending services, the program has equipped businesses to navigate the evolving digital economy.

Central to the project was a series of digital literacy training sessions held across Ibadan, Sagamu, and Abeokuta. These hands-on workshops taught MSME operators how to adopt and maximize technology for operational efficiency, better customer engagement, and financial sustainability.

“As a leading player in Nigeria’s informal retail sector, Alerzo is committed not only to building digital solutions but also to ensuring MSMEs have the digital skills needed to transform their businesses.

“We’re delighted to have collaborated with Mastercard, USAID, and the e-Trade Alliance for this project, as it reflects our dedication to connecting MSMEs in Nigeria to a world where digital connectivity is integrated into their businesses, making them more sustainable and profitable,” stated Adewale Opaleye, CEO of Alerzo.

The initiative underscores Nigeria’s ongoing digital transformation efforts, highlighting the informal sector’s pivotal role in the nation’s economy. Despite progress, many MSMEs remain constrained by financial illiteracy and reliance on traditional processes. Programs like this aim to bridge these gaps, offering practical, tech-driven solutions to streamline operations and improve market access.

Moreover, Mastercard’s Country Manager for West Africa, Folasade Femi-Lawal, emphasized the broader economic impact of digital tools.

“Efforts like this collaboration with Alerzo and the e-Trade Alliance can unlock immense possibilities for local economies and communities.

“Digital tools give small businesses some of the resources needed to thrive in today’s digital economy. They help provide the payment choices their customers want while helping to manage their operations more efficiently.”

The program, implemented by the Nextrade Group under the e-Trade Alliance, reflects a growing trend of public-private collaborations focused on fostering inclusive economic growth. Senior Manager Michael Poor stated, “This public-private sector collaboration underscores our dedication to fostering inclusive economic growth through digital transformation.

“By combining our expertise in skills development for e-commerce, inclusive trade, and access to finance, we aim to support Nigerian MSMEs in overcoming the challenges they face in the digital economy.

“Together with Alerzo and Mastercard, we are committed to empowering small businesses with the knowledge and tools they need to succeed and to power more inclusive, sustainable growth in Nigeria.”

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