Stakeholders from Enterprise Développement Centre (EDC), Keystone Bank, MasterCard Foundation, and Tripoint Academy have urged small and medium enterprises (SMEs) to focus on sustainable and impact-driven entrepreneurship growth.
This was said during the 2025 EDC SMEs conference in Lagos recently, with the theme: “Catalyzing the Future: Empowering Small Businesses for Impact and Inclusive Growth”.
Dr. Nneka Okekearu, Director of the Enterprises Development Center (EDC), highlighted the organization’s focus on sustainable and impact-driven entrepreneurship growth as the conference explores compliance, exports, and tax regulations, offering a platform for entrepreneurs to learn, connect, and collaborate.
However, while praising Tripoint Academy’s work in empowering over 30,000 women in 10 years, she reiterated that EDC’s partnership with Tripoint Academy to promote inclusive growth and support women entrepreneurs also aligns with Keystone Bank’s commitment to impact-driven growth and entrepreneurship development.
Thus, during her keynote speech, Rosy Fynn, Country Director of MasterCard Foundation, praised EDC’s milestone 18-year conference, highlighting the significant impact of its programs on society. She noted that SMEs are the economy’s driving force, facing obstacles such as access to finance, market access, and tools for efficiency, and that MasterCard Foundation partners with EDC to address these challenges, empowering SMEs nationwide through targeted programs.
Fynn further emphasized that 2026 should prioritize collaboration over competition, highlighting MasterCard Foundation’s partnership-driven approach. She thereby urges SMEs to leverage platforms like this to showcase products and expand customer bases. “Having that hope and resilience, and that right mindset is a key part in ensuring that 2026 is very different and a successful year for many SMEs,” Fynn said.

Also speaking at the event, Keystone Bank’s Executive Director, Nnenna Anyim Okoro, emphasized the crucial role SMEs play in Nigeria’s economy and the bank’s comprehensive approach to supporting them. Okoro announced plans to increase the frequency of the SME clinic, providing insights and thought leadership to entrepreneurs. This initiative addresses the needs of SMEs beyond funding, aiming to equip them with the necessary tools for success.

Shuhda Muhammad, Founder of Tripoint Travels Academy and Tourism and representative of all northern entrepreneurs, praised the initiative and thanked the organizers. She emphasized empowering entrepreneurs in northern Nigeria, particularly women, with over 11,000 entrepreneurs supported, 80% of whom are women. She claims that the initiative is an enabler that aims to shift mindsets and promote financial independence, enabling women to overcome barriers and showcase their products and services.

…As nominations portal closes for WES 2025 Awards For Outstanding Economic Impacts

By Winifred Bosa

All is set for the annual WorldStage Economic Summit 2025 on Friday November 21, 2025 at The Event Centre, Nigerian Exchange Limited, 2/4 Customs Street, Lagos by 10AM, with top experts from the public, private and academia set to address the theme: Tackling the Issue of Low Productivity in Nigeria.

According to a statement by the organisers, World Stage Limited, a research and technology driven Africa focused firm, among the top chief executives that have confirmed participation in the summit include Dr. Olasupo Olusi, Managing Director/CEO, Bank of Industry (BoI); Mr Segun Ajayi-Kadir, Director-General, Manufacturers Association of Nigeria (MAN); and Mr. Adewale Smatt-Oyerinde, Director General, Nigeria Employers’ Consultative Association (NECA).

The statement also said that Dr Abidemi Adegboye, an academia from the University of Lagos, Nigeria will deliver a researched paper on why Nigeria’s economy has been trapped in low productivity over the years.

The statement confirmed that the online nominations by stakeholders including the media for the WES 2025 Awards For Outstanding Economic Impacts has closed.

It said winners from different sectors of the economy have been notified and will be presented with Certificates For Outstanding Economic Impacts during the summit.

WES is conceived to address economic challenges through diagnoses and application of practicable solutions with public and private sector engagement in a research and innovation driven platform to inspire new thinking in business initiative, policy formulation/implementation, economic reform and development.

Top corporate institutions that are supporting the WES 2025 include Central Bank of Nigeria (CBN), Nigerian Communications Commission (NCC), Nigerian Exchange Group Plc (NGX), NLNG, Zenith Bank, Access Bank, Polaris Bank, Fidelity Bank, Sterling Bank, Shara Group and Ecobank.

Other critical stakeholders for economic productivity expected to take the front seats at the summit include federal, state governments and private bodies responsible for food production, technology transfer, job creation, energy supply, blue economy, banking  and export promotion.

The statement said, the summit will specifically attract those in the manufacturing, oil and gas, housing, agriculture, and water resources, banking, insurance, maritime, ICT, aviation, mining, hospitality & tourism, health care, education, transportation, local and foreign investors, and the media.

Mr Segun Adeleye, President/CEO, World Stage Limited said one of the biggest challenges facing Nigeria’s economy is low productivity.

“Even-though many are working, almost half of Nigerians are estimated to be poor, living below the national poverty line with multidimensional poverty at 63% and income poverty at 40%, just because the right jobs are not available,” he said.

“The question being asked by many is that if Nigeria’s economy is transforming, does the transformation deliver higher productivity jobs to raise living standards?”

He explained that WES 2025 will provide a template to discuss evidence-based policies to generate jobs that can lift people out of poverty; legislative intervention to curb annual economic loss through multiple public holidays; ideas on how to boost earnings in activities that are currently low productivity and small scale activities such as in farm and non-farm household enterprises; a stable macro environment, requiring a continuation of fiscal and exchange rate reforms that will inspire better integrating firms into global value chains and attracting foreign direct investment; further opening of the economy to international trade by removing trade restrictions and improving trade facilitation, as well as ensuring skills are aligned with the economy’s needs; design and implement national skills programs aimed at upskilling young Nigerians, to ensure many more embrace digital skills and capabilities; upgrading infrastructure as key ingredients of an effective policy mix; aggressive integration of mineral resources into national income generation stream to benefit from the opportunities presented by AfCFTA; financing structural transformation with accelerated domestic resource mobilization through reforming tax administration.

WES has always been a hub of opportunity, an unparalleled platform for networking, learning, and adapting. It is an invaluable experience that brings together public, industry leaders and like-minded professionals.

By Winifred Bosa

Alpha Morgan Bank opened its newest branch in Osogbo, Osun State, strengthening its commitment to bringing satisfying banking closer to customers across Nigeria.

The new branch, located at 165 Station Road, Osogbo, was commissioned by His Excellency, Prince Kola Adewusi, Deputy Governor of Osun State, in a ceremony that drew government officials, business leaders, and members of the Bank’s management team.

Prince Adewusi commended Alpha Morgan Bank for expanding into Osun, describing it as a move that will boost economic activities and improve access to quality financial services within the state.

Speaking at the launch, Mr. Ade Buraimo, MD/CEO Alpha Morgan Bank expressed gratitude to the government and people of Osun for their warm reception, reaffirming the Bank’s commitment to providing seamless, customer-focused, and satisfying banking experiences to everyone who Banks with them.

The new Osogbo branch features a modern banking hall and personalized financial services, offering customers the convenience, quality and satisfying banking experience Alpha Morgan Bank is known for.

By Winifred Bosa

FirstBank, the premier bank in West Africa and a leading financial inclusion service provider, has announced the successful integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT app, enabling customers to make instant, secure, and local currency-based cross-border payments across Africa.

According to a press release by the bank, PAPSS, developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables instant, low-cost payments in local currencies between African countries.

Speaking on the integration, the Group Executive, e-Business and Retail Products at FirstBank, Chuma Ezirim, said, “The integration of PAPSS into the LIT app is a testament to FirstBank’s commitment to delivering innovative, customer-centric solutions that simplify and enhance financial transactions. This milestone aligns with the Bank’s strategic goal of deepening digital capabilities and expanding access to seamless cross-border payment services across Africa.”

Commenting on this collaboration, Mike Ogbalu, CEO of PAPSS said, “Every time an individual, an SME or a Company sends money instantly within Africa in their own currency, we are not just moving funds, we are connecting ambitions, supporting livelihoods, and bridging dreams across borders. This collaboration with FirstBank and their LIT app brings us a step closer to making African borders invisible to movement of money, so that the continent’s entrepreneurs and families can focus on what matters most: building their future, not battling payment barriers.”

The LIT App, FirstBank’s innovative digital banking platform, offers a wide range of features including virtual cards, scheduled payments, and multiple transfers in one go, designed to meet the dynamic needs of customers. The addition of PAPSS expands its capabilities to support cross-border commerce, especially for individuals and SMEs engaged in pan-African business.

With PAPSS now live on the LIT App, FirstBank is breaking down barriers to payments, trade and financial inclusion across Africa. Customers can now send funds conveniently to other countries in Naira, without needing US dollar, GBP or Euro conversions. This landmark integration enables real-time cross-border payments in local African currencies, reduces transaction costs, and improves settlement efficiency. It also expands access to digital banking services, promotes financial inclusion, supports SMEs and fosters growth under the African Continental Free Trade Area (AfCFTA).

This integration of PAPSS to the LIT app reinforces FirstBank’s leadership in digital banking innovation and supports the African Continental Free Trade Area (AfCFTA) agenda by simplifying intra-African transactions.