Following the data from the National Bureau of Statistics as well as the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), that Micro and Small Medium Enterprises (MSMEs) account for about 96 percent of registered Nigerian businesses that employs about 75% of the national labour force, and contributes about 48% to the country’s Gross Domestic Product (GDP), it is clear that the Micro and Small Medium Enterprises (MSMEs) form the bedrock of the economy.
It is as well worthy to note that e-commerce platforms operators in Nigeria are in no little way contributing to the promotion of MSMEs, as Alerzo, a leading e-commerce platform in Nigeria is making strides in empowering retail business owners with its various innovations including loan provisions.
With its cashless payment and lending platform – Alerzopay, Alerzo provides retailers, regardless of their economic situations, with working capital to keep their stores running and to drive financial inclusion to the excluded informal retailers.
With the advanced POS terminals that run on Alerzopay platform, retailers can act as agents: processing customer deposits and withdrawals to purchase goods or use as spending cash and process value added services such as utility bill payments, etc.
The integration of Alerzopay and the use of the POS machines in their customers’ businesses improves their overall profit margins, as retailers receive commissions for each transaction carried out on the platform.