Small and Medium Scale Enterprises (SMEs) in Abia State are set to gain wider access to digital financial services and business support following the launch of a new platform by OneWallet Microfinance Bank in partnership with Zenith Bank and MTN Nigeria.
The initiative, unveiled at the Ariaria International Market in Aba, is aimed at helping traders, artisans, merchants and other small business owners expand their operations through easier access to digital payments, business tools and financing opportunities.
Speaking at the launch, Chairman of OneWallet Microfinance Bank, Dr. C Darl Uzu, said the platform was specifically designed to support SMEs because of their critical role in Nigeria’s economy.
According to him, the initiative seeks to deepen financial inclusion by making digital financial services more accessible and affordable for small businesses.
“We want to expand the inclusion of small businesses in digital financial services by making it easy for them to make and receive payments on affordable digital devices,” he said.
Dr. Uzu explained that the platform would also help SMEs build credible financial records that could improve their access to future loans and business expansion opportunities.
“We want to help SMEs access financial support and loans easily to grow their businesses and also help them build the history and credibility they require for future growth and expansion,” he added.
He noted that OneWallet was developed not merely as a payment application but as a comprehensive business support platform tailored to the everyday realities and challenges faced by small business owners.
The launch at Ariaria International Market, one of Nigeria’s largest commercial hubs, was described as a strategic move to directly engage entrepreneurs operating within the informal and small business sector.
“We are not here to teach Ariaria people how to trade because Ariaria already understands business. We are here to support Ariaria’s business energy with tools that can help businesses do more, reach more customers, organise better and prepare for bigger opportunities,” Uzu stated.
The initiative includes the deployment of UnionBell smartphones and Point-of-Sale devices designed to support easier transactions and digital operations for SMEs.
A representative of MTN Nigeria, Dr. Ernest Chieke, described OneWallet as a platform capable of helping SMEs modernise and scale their businesses through technology-driven solutions.
He expressed confidence that the partnership would help address financial challenges affecting many small businesses.
Also speaking, a representative of Zenith Bank, Carl Akwarandu, said the bank partnered with OneWallet because of its innovative approach to supporting SMEs.
According to him, the platform has the potential to accelerate business growth among traders and entrepreneurs across the country.
Director of OneWallet Microfinance Bank, Dr. David Nwosu, explained that the platform simplifies access to loans by focusing on business transaction history rather than traditional collateral requirements.
“At OneWallet, collateral is not needed to obtain loans. What matters is the individual’s business history,” he said.
Stakeholders at the launch noted that expanding digital financial access for SMEs could play a major role in improving financial inclusion, boosting productivity and supporting economic growth, especially within Nigeria’s informal sector.
The initiative is also expected to help small businesses adopt more structured financial practices while improving their ability to access formal financing and participate in the digital economy.