Home Community Insights Tech Company BLOC Set to Provide Nigerian SMEs Access to Financial Services, Partners With SMEDAN

Tech Company BLOC Set to Provide Nigerian SMEs Access to Financial Services, Partners With SMEDAN

Tech Company BLOC Set to Provide Nigerian SMEs Access to Financial Services, Partners With SMEDAN

Technology company that offers Fintech infrastructure to businesses, Bloc has partnered with the Small And Medium Enterprises Development Agency of Nigeria (SMEDAN), to provide SMEs with easy access to financial services.

Backed by a CBN-Issued microfinance banking license and a PSSP license, Bloc seeks to embed digital financial services into the product and services of small businesses in the country.

Following its partnership with SMEDAN, it will enable easy onboarding of these SMEs, by providing them with fintech services such as lending, Issuance of POS, industry-specific supply chain solutions, digital banking, bill payment, loyalty cards management, social commerce platforms, etc.

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Speaking on Bloc’s partnership with SMEDAN, the Director-General and Chief Executive Officer of SMEDAN, Mr. Wale Fasanya disclosed that such strategic partnership will significantly increase the growth of SMEs in the country, also creating multiple inventions.

In his words, “We know this partnership with Bloc and the subsequent platforms that are being developed will benefit the SMEs that work with us by improving access to specialized services developed by the innovative FinTech sector of Nigeria.

“We have more than 4,000,000 registered FinTechs and we are always thinking of ways by which we can improve their existence. Our success is measured by how much we can do for them, and we believe we have shown our level of innovation by developing this platform with Bloc.”

Also commenting on the partnership, Bloc’s Business Development Officer, Mr. Kingsley Ikart said “As an infrastructure company that provides services to other FinTechs, we believe that this platform designed by SMEDAN and Bloc would allow some of these FinTechs to extend their brilliant services to SMEs that would otherwise not have been aware of what they do.

“He further described the partnership between Bloc and SMEDAN as a win-win situation. This is because these SMEs can now benefit from such innovations without stressing themselves and compromising the time they need to attend to their businesses”.

With so many technological advancements in the world today coupled with global adoption, consumer expectations are changing. Many SMEs are including financial technology products, which has no doubt created a significant impact on their business.

Following Bloc’s mission to provide financial services to SMEs in Nigeria, it will no doubt lead to the exponential growth of these SMEs, thereby positively impacting Nigeria’s economy due to their significant role.

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