By Ayomide Otitoju
MoMo Payment Service Bank (MoMo PSB), the fintech subsidiary of MTN Nigeria, has entered into a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to expand access to digital and financial tools for small and medium-scale businesses across the country.
The collaboration was formalised through the signing of a Memorandum of Understanding (MoU) at the MoMo PSB head office in Victoria Island, Lagos, on Wednesday, February 3.
Under the agreement, SMEs registered with SMEDAN will gain access to MoMo PSB’s suite of digital solutions across multiple channels, including mobile applications, point-of-sale (POS) terminals, USSD, partner portals and other tailored platforms. The solutions are designed to help businesses accept payments through multiple channels, pay staff salaries, manage tills and multiple outlets, and oversee core operations from a single, integrated platform.
Participating businesses will also benefit from access to market opportunities within the broader MoMo PSB and MTN ecosystem, as well as capacity-building support aimed at strengthening operations and enabling sustainable, long-term growth.
The partnership highlights the shared commitment of MoMo PSB and SMEDAN to empowering entrepreneurs with practical and accessible financial solutions that reduce operational stress, improve cash flow and support business expansion. By leveraging SMEDAN’s extensive SME network and MoMo PSB’s digital financial infrastructure, the collaboration is expected to drive significant impact across Nigeria’s SME ecosystem.
Speaking on the partnership, the Executive Director, Strategy and Innovation at MoMo PSB, Usoro Usoro, said the initiative aligns with the bank’s goal of supporting small and medium-scale businesses with tools that enhance efficiency and unlock new growth opportunities.
“Through the MoMo PSB Business App, we are making it easier for entrepreneurs to manage payments, increase revenue and focus on growing their businesses profitably,” Usoro said.
Also commenting, the Director-General and Chief Executive Officer of SMEDAN, Charles Odii, described the partnership as a step towards simplifying access to financial support for small businesses.
“This partnership is about removing friction and ensuring financial support reaches small businesses in a way that is simple, transparent and designed for real impact,” Odii said.
MoMo PSB noted that its digital solutions are not limited to SMEs within the SMEDAN ecosystem, adding that small and medium-scale businesses across Nigeria can also access the tools to support their growth.
The company reaffirmed its commitment to bridging financial gaps in Nigeria through strategic partnerships and collaborations.
