MySMEville Expands to 2,600 Users to Tackle Nigeria's $158 Billion MSME Funding Gap
Updated
Updated · msmeafricaonline.com · May 26
MySMEville Expands to 2,600 Users to Tackle Nigeria's $158 Billion MSME Funding Gap
1 articles · Updated · msmeafricaonline.com · May 26
More than 2,600 businesses had registered on MySMEville nationwide by May, up from about 200 pilot users in Lagos in December.
The MTN Nigeria-SMEDAN platform is built as a single digital hub for funding access, e-commerce tools, solar and infrastructure support, and business intelligence to reduce fragmented MSME support.
Nigeria's nearly 40 million MSMEs generate about 48% of GDP, but roughly 80% still operate outside the formal financial system, leaving a financing shortfall estimated at $158 billion a year.
An Angolan INAPEM delegation reviewed the model in Abuja and said it could be adapted at home, giving the initiative broader African relevance.
Stakeholders aim to scale MySMEville to 5 million MSMEs through wider onboarding, academy training, and deeper links with e-commerce and policy support systems.
Beyond new apps and funding, what will solve the systemic barriers crippling Nigeria's MSMEs?
Can Nigeria's MSMEs capitalize on digital trade when fragmented identity systems hinder cross-border payments?
mySMEville’s Rapid Expansion: A Public-Private Blueprint to Digitize and Finance 5 Million Nigerian MSMEs
Overview
mySMEville is a pivotal initiative designed to foster economic growth across Africa by strategically aligning Nigeria’s public and private sectors through a partnership between MTN and SMEDAN. This collaboration is seen as a formidable force for economic progress, aiming to unlock the continent’s economic potential. Dr. Charles Odii, Director-General of SMEDAN, emphasized that mySMEville represents a significant step forward and described it as the future of business in Africa. The platform’s mission is rooted in this alignment, positioning mySMEville as a leader in driving business transformation and development across the region.