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 partnership was formalised through the signing of a Memorandum of Understanding 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 financial solutions across multiple channels, including mobile applications, point-of-sale terminals, USSD, partner portals and other tailored platforms. The solutions are designed to help merchants accept payments through multiple channels, pay staff salaries, manage tills and multiple outlets, and oversee core business operations from a single integrated platform.
Participating businesses will also benefit from access to market opportunities within the wider MoMo PSB and MTN ecosystem, as well as capacity-building initiatives aimed at strengthening operational efficiency and supporting long-term growth.
The collaboration highlights the shared commitment of MoMo PSB and SMEDAN to empowering entrepreneurs with practical and accessible financial solutions that reduce operational challenges, improve cash flow and enable sustainable business expansion. By combining SMEDAN’s extensive SME network with MoMo PSB’s digital financial infrastructure, the partnership is expected to deliver significant impact across Nigeria’s SME landscape.
Speaking on the partnership, the Executive Director, Strategy and Innovation at MoMo PSB, Usoro Usoro, said the initiative aligns with the company’s goal of supporting small and medium-scale businesses with tools that drive efficiency and growth.
“This partnership with SMEDAN reflects our commitment to equipping SMEs with solutions that help them operate more efficiently 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,” he said.
Also commenting, the Director-General and Chief Executive Officer of SMEDAN, Mr. Charles Odii, said the partnership was focused on reducing barriers and ensuring financial support reaches small businesses in a simple and transparent manner.
“This partnership is about removing friction and ensuring that financial support reaches small businesses in a way that is simple, transparent and built for real impact,” Odii said.
MoMo PSB noted that the benefits of its digital solutions are not limited to SMEs within the SMEDAN network, adding that small businesses across Nigeria can also access the tools to support growth.
The company reaffirmed its commitment to bridging financial gaps in Nigeria through strategic partnerships and collaborative initiatives.
