World MSME Day: Moniepoint Celebrates Businesses As Backbone Of Global Economies, SDG Champions

From economic downturns to global crises, Micro, Small, and Medium-sized Enterprises (MSMEs) have demonstrated remarkable resilience and adaptability in promoting cross-border economic growth and development.
Driven by the growing need to improve access to financial services to power sustained and inclusive progress, Moniepoint MFB, Africa’s fastest-growing financial institution according to the Financial Times, has reiterated its commitment to providing peerless and holistic support for MSMEs to boost their capacity to achieve the Sustainable Development Goals, while also promoting innovation, creativity, and sustainable business practices across the country.
According to the United Nations, MSMEs account for more than 90% of global businesses and 60-70% of employment. These businesses account for 50% of global GDP. They benefit the global economy and sustain livelihoods, particularly for the working poor, youth, women, and workers in vulnerable situations. It should be noted that, following a resolution adopted by the UN General Assembly in April 2017, the 27th of June was designated as “Micro-, Small, and Medium-sized Enterprises Day” to raise awareness of MSMEs’ enormous contributions to the achievement of the United Nations Sustainable Development Goals (SDGs).
On World MSME Day, Babatunde Olofin, Managing Director of Moniepoint MFB, emphasised that MSMEs can drive a sustainable and prosperous future with support from governments, financial institutions, and consumers. Moniepoint, as an enabler, is committed to collaborating with all stakeholders to create an environment that supports MSMEs in investing, trading, and thriving locally.
“We recognise that MSMEs are the lifeblood of Nigeria’s economy. Millions rely on them every day for food, necessities, and sustenance. We have one promise to businesses across Nigeria: we will always be there to make you happy. As we celebrate this year’s World MSME Day, we must recognise the hard work, dedication, and perseverance of MSMEs in driving economic stability and sustainable development, helping to eradicate poverty and improve the quality of life for Nigerians,” Olofin said.
He continued, “On this day, we must renew our commitment to work together – government agencies, private sector operators, and all stakeholders – to continue supporting MSMEs through policies, funding, and capacity-building initiatives. By empowering MSMEs, we can create a more sustainable, inclusive, and prosperous future for everyone, particularly future generations.”
Moniepoint MFB has received widespread recognition for its innovative efforts to provide small businesses with digital financial services, such as the ability to accept payments, obtain working capital loans, and manage their finances, allowing them to increase productivity, better serve customers, and ultimately grow.
To watch out for and champion the survival of small businesses even as the world celebrates MSMES, the financial services behemoth recently provided incentives to some business owners in Nigeria to keep the lights on. Gift vouchers ranged from 3 months’ worth of inventory restocking for a general retail services provider to two months’ worth of sewing material for a tailor, and a food and beverage supplier received a fuel voucher to help with his logistics needs, among other recipients. Beneficiaries who expressed gratitude to Moniepoint stated that the gesture would significantly increase their productivity and enable them to better serve their communities.
MSMEs, as the sector closest to local communities, are critical for creating local jobs and empowering women, youth, people with disabilities, and other vulnerable populations. Celebrating MSME Day recognises that this vital sector, which serves as an agents of innovation, growth, and sustainability in our societies, has enormous potential to unlock critical pathways to accelerate SDG progress around the world.