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 (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 financial solutions across multiple channels, including mobile applications, point-of-sale (POS) terminals, USSD, partner portals, and other tailored platforms. These 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.
Beyond payment services, participating businesses will also benefit from access to market opportunities within the wider MoMo PSB and MTN ecosystem. The partnership further includes capacity-building support aimed at strengthening business operations, improving efficiency, and enabling long-term, sustainable growth.
The collaboration 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 combining SMEDAN’s extensive SME network with MoMo PSB’s digital financial infrastructure, the initiative is expected to deliver significant impact across Nigeria’s SME ecosystem.
Speaking on the partnership, the Executive Director, Strategy and Innovation at MoMo PSB, Usoro Usoro, said the collaboration aligns with the company’s mission to support small and medium-scale businesses with tools that enable efficiency and growth.
“This partnership with SMEDAN reflects our commitment to supporting small and medium-scale businesses with tools that help them operate more efficiently and unlock new growth opportunities,” Usoro said. “Through the MoMo PSB Business App, we’re making it easier for entrepreneurs to manage payments, increase revenue, and focus on growing their businesses profitably.”
Also commenting, the Director-General and Chief Executive Officer of SMEDAN, Charles Odii, described the partnership as a move to simplify access to financial support for small businesses.
“This partnership is about removing friction and making sure 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 ecosystem, as small and medium-scale businesses across Nigeria can also access the tools to support their growth.
The partnership reinforces MoMo PSB’s ongoing commitment to bridging financial gaps in Nigeria through strategic collaborations aimed at advancing financial inclusion and strengthening the country’s SME sector.
