AltBank Targets Small Business Growth With 300 Free PoS Rollout

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Digital banking firm The Alternative Bank (AltBank) has launched an initiative to ease credit access challenges for micro, small and medium enterprises (MSMEs) by distributing 300 free Point-of-Sale (POS) terminals to selected businesses. The rollout took place at the Kaduna International Trade Fair, targeting traders and service providers to accelerate their transition to traceable digital payments.

The bank said the intervention addresses persistent barriers to MSME growth, including cash-handling risks, missed transfers, delayed payments and weak transaction records that limit access to formal financing. By enabling digital payment acceptance, beneficiaries can build verifiable transaction histories and strengthen their credit profiles.

Speaking at the event, AltBank’s Executive Director for Commercial and Institutional Banking (South and Central), Garba Mohammed—represented by the Head of Corporate Social Investment, Solomon Okonkwo—stressed that practical infrastructure, not just policy reforms, is critical to achieving real economic inclusion. He noted that MSMEs make up over 96 per cent of businesses in Nigeria and employ more than 80 per cent of the workforce, yet continue to face financing and digital access constraints, particularly in Northern Nigeria.

More than 300 MSMEs across key trade and service clusters were onboarded instantly and integrated into digital transaction systems designed to improve efficiency and reduce cash-related risks. The bank said eligible businesses can also access the free POS terminals at its branches in Kaduna and across the country.

AltBank reaffirmed its commitment to supporting enterprise development through non-interest financial solutions such as working capital, asset financing, trade and supply chain financing, and advisory services. It also commended the Kaduna Chamber of Commerce, Industry, Mines and Agriculture and the Kaduna State Government for sustaining platforms that promote regional commerce and MSME growth.

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