MoMo PSB partners SMEDAN to provide digital and financial tools aimed at improving efficiency and sustainable growth for Nigerian SMEs

MoMo Payment Service Bank, the fintech subsidiary of MTN Nigeria, on Wednesday entered into a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria to support small and medium sized enterprises with digital and financial tools designed to improve efficiency and scale growth.

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The agreement was formalised in Lagos, bringing together MoMo PSB and SMEDAN in a collaboration that will allow registered businesses to access payment solutions, payroll management, point of sale services, USSD channels and partner portals through a single integrated platform.

Under the partnership, SMEs will be able to manage multiple outlets, tills and transactions from one dashboard, while also gaining access to MTN Nigeria’s wider network and capacity building programmes.

The move reflects a broader push to strengthen Nigeria’s fragmented SME sector by improving access to digital financial infrastructure and reducing operational bottlenecks that limit growth.

Executive Director of Strategy and Innovation at MoMo PSB, Usoro Usoro, said the partnership demonstrated the company’s commitment to empowering entrepreneurs with practical tools that support sustainable expansion.

Usoro said the MoMo PSB Business App was designed to simplify payment management, improve cash flow and allow business owners to focus on profitability and long term growth.

The Director General and Chief Executive Officer of SMEDAN, Charles Odii, described the collaboration as a step towards removing friction in how financial support reaches small businesses across the country.

Odii said the goal was to ensure that financial solutions are simple, transparent and tailored to the real needs of entrepreneurs operating in challenging environments.

Although the partnership targets businesses registered within the SMEDAN ecosystem, MoMo PSB said its digital solutions are available to SMEs nationwide, extending the potential impact beyond the agency’s immediate network.

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The collaboration positions MoMo PSB to deepen its presence in Nigeria’s financial services space, while offering SMEs access to a powerful digital backbone capable of supporting growth, efficiency and resilience.