eTranzact, Enterprise Development Centre partner to survey MSMEs readiness on AI
R-L : Eme Godwin, Group Head Legal and General Counsel eTranzact Plc: Niyi Toluwalope Managing Director/ CEO eTranzact Plc ; Freda Anyanwu, Country Director, Global AI Council : Dr Olawale Anifowose, Partnership and Programs Director , Enterprise Development Centre Pan Atlantic University and Barrister Nnenna Ugwu, Head, Legal & Support Services , Enterprise Development Centre/Pan African University at the partnership/ press launch of AI survey readiness for Nigerian SMEs & MSMEs held in Lagos.
eTranzact, Enterprise Development Centre partner to survey MSMEs readiness on AI
…As Global AI Council promises great impact
Nike Popoola
To build a more prosperous and technologically advanced nation, a fintech company, etranzact and the Enterprise Development Centre – EDC, (Pan Atlantic University), will through a survey, ascertain the level of knowledge and readiness of operators of Micro, Small, and Medium Enterprises towards Artificial Intelligence (AI).
At the launch of the partnership at etranzact office in Lagos on Thursday, the Managing Director/CEO of eTranzact International, Mr. Niyi Toluwalope, told newsmen that the partnership promises to shape the future of the Nigerian economy, as the results obtained from the survey would be useful to the government at both State and federal level, policymakers, investors, industry watchers and other strategic stakeholders, who would use the information for planning, decision making and policy design.
He said, “Today, we are igniting a movement that will prepare our Small and Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMES) for the rapidly evolving world of Artificial Intelligence (Al). Our collaboration with the Enterprise Development Centre (EDC) to champion the Al Readiness Survey is a testament to our commitment to driving innovation and ensuring that no business is left behind in this digital era.
“As a catalyst for national development and an equalizer, Al represents the next frontier in this ongoing revolution. By assessing the readiness of our SMEs and MSMES for Al integration, we are laying the groundwork for a future where Nigerian businesses can compete on a global scale”
Etranzact boss stressed that the initiative was not just about technology adoption, but about empowering businesses to harness the potentialities of Al to drive efficiency, enhance customer experiences, and create new avenues for growth.
The idea, he noted, would trigger national development if SMEs and MSMEs would begin to maximize the potentialities of AI ad the backbone of any economy.
He added, “By equipping these enterprises with the tools and knowledge to leverage Al, we are fostering a more resilient and competitive economy. This, in turn, will lead to job creation, increased productivity, and a stronger presence in global markets.
“As a forward-thinking super fintech company, eTranzact has always been at the forefront of innovation. The Al Readiness Survey, driven by our innovative technology solution, Credo, exemplifies our commitment to pushing the boundaries of what is possible in the fintech space.
“Credo, as the driving force behind this initiative, represents the cutting-edge of technology that eTranzact is known for. It is more than just a solution; it is a platform designed to empower businesses with the insights and tools they need to thrive in a digital world. Through Credo, we are not only assessing Al readiness but also providing a pathway for businesses to adopt Al in a manner that is both strategic and impactful.”
Aimed to determine current awareness and usage of Al, identify knowledge gaps, uncover adoption challenges, and analyse the benefits of Al for SMEs, Mr. Toluwalope affirmed that the insights gathered would inform the creation of targeted training, funding, and support programs, while also examining policies that can foster a more favourable environment for Al integration.
To ensure that every spectrum is covered, he added that the groups would employ both qualitative and quantitative methods, starting with a pilot test of 30 SMEs to validate our research tools, while the main e-survey will target 3,000 SMEs nationwide.
He said, “Our commitment to this cause is not limited to a single region; it spans the entire nation. To ensure that our findings are comprehensive and inclusive, we will be commencing Focus Group Discussions (FGDs) in five key zones: supplemented by Focus Group Discussions (FGDs) in Lagos, Kano, Abuja, Enugu, and Rivers.
“These discussions will bring together business leaders, industry experts, and key stakeholders to share insights, challenges, and opportunities related to Al adoption.”
While encouraging stakeholders to participate actively in the initiative, he believe that by equipping SMEs with the tools to leverage Al, the two companies are laying the foundation for a more competitive and innovative economy.
He reiterated the company’s dedication to create a more inclusive and equitable financial ecosystem, as technology keep bridging gaps, create opportunities, and transform lives; while the firm continues to invest in cutting-edge solutions, strategic partnerships, and initiatives that drive meaningful change.
“We are shaping the future of Nigerian businesses, drive innovation, foster growth, and create a more inclusive economy for all,” he assured.
On his part, the Director for Programs and Partnerships at Enterprise Development Centre, Dr. Olawale Anifowose, said, given the ever dynamic business environment with modern technology, it’s imperative for Nigeria to join the rest of the world to embrace AI given the enormous benefits embedded.
According to him, new products would be developed, creative ideas and many more benefits would spring forth with the level of knowledge that would be garnered from the survey.
Anifowose said, “We have a pool of entrepreneurs of over 300,000 which covers all the sectors in Nigeria in this exercise. And we are very optimistic about it”
As a strategic partner, the African Director of Global AI Council, Freda Anyanwu, assured MSMEs of boosting their knowledge in AI irrespective of their spheres of operations and limitations they are facing.
Anyanwu added that the organization would continue to build literary capacity on AI through AI education to broaden the scope of knowledge for the operators of MSMEs.
She said, “We drive AI literacy and innovation. We want to help MSMEs grow their businesses using this technology. We want to let them know that AI is more than what they think it’s. The workshops would do more of the work.”
Her Organization, she added, would leverage the over 2,000 network of entrepreneurs captured by Enterprise Development Centre, saying,
She said, “We want to see MSMEs speak confidently about AI, how it helps them grow, instead of seeing it as a threat. For those who don’t have the requisite gadgets like smart phones, we can link them up with technology hubs around their localities. We want to see them explore AI as a enabler to thrive in their businesses, and that we must achieve.”
