Through the MoMo Coach chatbot, the Mastercard Centre for Inclusive Growth, MTN Group Fintech, and Arifu have teamed up to help approximately 1 million small businesses in Uganda and Côte d’Ivoire digitise their operations, increase their use of digital financial services and access to online marketplaces, MTN announced on Friday.
By imparting critical digital skills, this program, which is a component of the Center’s global Mastercard Strive project, seeks to improve small businesses’ resilience and expansion.
Currently available in Kenya and Nigeria, it is one of the ways Mastercard Strive has distributed chatbot-ready business-building content for small enterprises in the region.
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MTN’s MoMo Coach to bridge the digital gap in African small businesses
Sub-Saharan African small enterprises have had a difficult time implementing digital tools, particularly those affected by the pandemic.
Only 27.65 percent of sub-Saharan African enterprises had implemented digital tools to increase productivity as of December 2022, a marginal improvement over 19.44 percent in August 2020.
Their development and access to crucial financial services are nonetheless constrained by a lack of necessary skills. MoMo Coach fills these gaps by offering easily accessible, free upskilling content using well-known messaging apps.
This program, which is run by Caribou Digital and supported by the Mastercard Centre for Inclusive Growth, gives small businesses the digital skills they need to adopt digital tools, access capital, and participate more successfully in digital marketplaces. It is part of Mastercard Strive, which aims to reach 18 million small businesses globally and provide them with the tools they need to go digital, access capital, and access networks and expertise.
“Small businesses are vital to Africa’s growth and create opportunities for a more resilient and inclusive regional economy. We are delighted to catalyze a partnership between MTN Group Fintech and Arifu to equip almost one million small business owners with the digital skills and knowledge essential for thriving in an increasingly digital economy, setting them up for success,” said Subhashini Chandran, Senior Vice President of Social Impact for Asia Pacific, Europe, Middle East and Africa, Mastercard Center for Inclusive Growth.
MoMo Coach solution available across multiple platforms
Powered by Arifu’s Grasp Platform, the MoMo Coach solution delivers micro-learning experiences through mobile messaging. It is available via several platforms, such as MoMo, Facebook Messenger, WhatsApp, Telegram, and SMS.
This provides entrepreneurs and small business owners with flexibility in receiving useful, doable advice to open up growth prospects in the digital economy.
Serigne Dioum, CEO of MTN Group Fintech, further adds: “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.”
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Over 75,000 small businesses accessing free digital courses in Cote d’Ivoire and Uganda
The initiative has been implemented in Côte d’Ivoire and Uganda, reaching over 930,000 MTN consumers, merchants, and agents. Over 45,000 small business owners are actively using MoMo Coach, and over 75,000 small business owners have access to free digital courses.
Among the courses available are “How to Start Your Business,” “Money Management,” and “Grow and Secure Your Business.”
Based on feedback from MoMo agents and merchants, these courses tackle important issues including access to pertinent business information and affordability, empowering small company owners to succeed in the digital sphere.
Beneficiary’s review
A 31-year-old Aminata from Gôh-Djiboua, Côte d’Ivoire is one of the beneficiaries of MoMo Coach. Since 2022, she has been selling clothes and shoes. According to a statement obtained from MTN’s website, she has this to say:
“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.”
Additionally, she has begun utilising WhatsApp to boost sales, stating: “My income has increased.” I sell more when I post my products.