Millions Of Small Business Owners Equipped With Digital Skills By MTN Group Fintech And Others For Growth

Through the MoMo Coach chatbot, the Mastercard Center for Inclusive Growth, MTN Group Fintech, and Arifu have teamed up to help approximately one million small businesses in Uganda and Côte d’Ivoire digitize their operations, use digital financial services more frequently, and access online marketplaces.

As a component of the Center’s global Mastercard Strive initiative, this program provides critical digital skills to help small businesses become more resilient and grow.

Currently available in Kenya and Nigeria, it is one of the ways Mastercard Strive has distributed chatbot-ready business building content for small businesses in the region.

Sub-Saharan African small businesses have had a difficult time implementing digital tools, particularly those affected by the pandemic.

Only 27.65% of sub-Saharan African businesses had implemented digital tools to increase productivity as of December 2022, a marginal improvement over 19.44% in August 2020.

Their development and access to crucial financial services are still constrained by a lack of pertinent skills. MoMo Coach fills these gaps by offering easily accessible, free upskilling content through well-known messaging apps.

This program, which is run by Caribou Digital and supported by the Mastercard Center for Inclusive Growth, gives small businesses the digital skills they need to adopt digital tools, obtain capital, and participate more successfully in online marketplaces.

The initiative is in line with Mastercard Strive’s overarching objective of reaching 18 million small businesses globally and giving them access to networks and expertise, capital, and digital transformation.

Arifu’s Grasp Platform powers the MoMo Coach solution, which delivers micro-learning experiences via mobile messaging. It is available via a number of platforms, such as MoMo, Facebook Messenger, WhatsApp, Telegram, and SMS.

This provides entrepreneurs and small business owners with flexibility in accessing useful, doable advice to open up growth prospects in the digital economy.

MTN Group Fintech CEO Serigne Dioum went on to say:

“Empowering small businesses with digital skills is key to driving inclusive growth in Africa. Through MoMo Coach, we are unlocking opportunities for entrepreneurs to thrive in the digital economy, strengthening communities, and shaping the future of business across the continent.”

Over 930,000 MTN customers, merchants, and agents have been reached by the program’s rollout in Côte d’Ivoire and Uganda. Over 45,000 small business owners are actively using MoMo Coach, and over 75,000 small business owners have accessed free digital courses.

“How to Start Your Business,” “Money Management,” and “Grow and Secure Your Business” are among the courses available.

These courses help small business owners navigate the digital landscape by addressing important issues like affordability and access to pertinent business knowledge. They are based on insights obtained from MoMo merchants and agents.

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Among the many people who benefit from MoMo Coach is Aminata, a 31-year-old business owner from Gôh-Djiboua, Côte d’Ivoire. Since 2022, she has been selling clothes and shoes. Here is what she said:

“There’s a lot of competition, but MoMo Coach helps me sell better. Before, I used all my profits to buy new stock, which left me using my capital for expenses. Now, I split my profits: one part for business growth, another for expenses, and some savings for other projects.” She has also started using WhatsApp to increase her sales, noting: “My income has increased. When I post my goods, I sell more.”