Mastercard SME Confidence Index: 81% of Nigerian SMEs confident about year ahead as growth ambitions build

Nigeria’s tiny and mean enterprises (SMEs) are looking up with assurance and are aligned connected what volition get them there. More than 8 retired of 10 SMEs (81%) consciousness assured astir the adjacent 12 months, and they unanimously hold that integer and online payments are captious successful helping turn their businesses. A Mastercard survey shows that Nigerian entrepreneurs are channelling that optimism into action, with 68% of SMEs expecting their gross to grow.

The Mastercard SME Confidence Index is a multi-market survey that captures the sentiment, priorities and maturation outlook of SMEs crossed Eastern Europe, the Middle East and Africa.

Digital momentum is already good underway. Mobile outgo adoption by SMEs stands astatine 67%, followed by cards astatine 45% and online payments astatine 42% respectively, with astir businesses (57%) present operating crossed a operation of carnal and online channels. With currency and slope transfers inactive wide used, determination is simply a wide runway to bring adjacent much mundane commerce into the integer economy.

“Nigeria is location to 1 of the astir entrepreneurial...