MoMo Payment Service Bank (MoMo PSB), the fintech arm of MTN Nigeria, has entered into a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to strengthen the growth and sustainability of small and medium-scale enterprises across the country.
The partnership 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. It reflects a shared commitment to equipping Nigerian SMEs with the digital and financial tools they need to operate more efficiently, increase revenue, and scale with confidence.
Under the agreement, SMEDAN-registered businesses will gain access to MoMo PSB’s suite of digital payment and financial solutions delivered through multiple channels, including mobile apps, POS terminals, USSD, partner portals, and other customised platforms. These tools are designed to simplify everyday business operations, allowing merchants to accept payments through various channels, pay staff salaries, manage tills and multiple outlets, and monitor key business activities from a single, integrated system.
By combining SMEDAN’s extensive SME network with MoMo PSB’s robust digital infrastructure, the collaboration aims to lower operational barriers for small businesses and drive greater financial inclusion within the sector.
MoMo PSB reaffirmed its commitment to supporting Nigeria’s SME ecosystem, noting that the partnership aligns with its broader goal of enabling businesses to thrive through accessible, innovative, and secure financial solutions.
