Alternative Bank Tackles Cash Friction, Distributes Free POS at Kaduna Trade Fair
Kuni Tyessi in Abuja
The Alternative Bank (AltBank) has strengthened its support for Micro, Small and Medium Enterprises (MSMEs) by addressing one of the most persistent barriers to business growth which includes cash friction, missed transfers, delayed payments, weak transaction records, and limited credit history.
At the 47th Kaduna International Trade Fair, the Bank moved beyond advocacy by deploying more than 300 free Point-of-Sale (POS) devices to MSMEs operating across trade, retail, and service clusters.
It says the initiative is designed to help merchants transition more quickly to traceable digital payments.
Speaking at the event, Executive Director, Commercial and Institutional Banking (South and Central) Garba Mohammed, stressed the need for practical interventions that enable small businesses to operate efficiently and build sustainable growth pathways.
Addressing business leaders, entrepreneurs, traders, members of the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KADCCIMA), and government officials at the Kaduna International Trade Fair Complex, Mohammed who was represented by AltBank’s Head of Corporate Social Investment, Solomon Okonkwo, noted that while policy reforms provide direction, real economic progress occurs when businesses gain access to structured financial systems and modern payment infrastructure.
“Reforms set direction. But reforms alone are not results,” he said. “Results happen when MSMEs are formalized, transactions are traceable, and businesses can access finance without friction.”
He noted that MSMEs account for more than 96 percent of businesses in Nigeria and employ over 80 percent of the workforce, yet access to finance and digital infrastructure remains a major constraint, particularly in Northern Nigeria.
Beneficiaries were onboarded instantly and integrated into digital transaction systems designed to improve efficiency, reduce cash-handling risks, generate verifiable payment records, and strengthen their eligibility for future financing.
“An MSME that cannot accept digital payments is structurally limited. Our responsibility is not to make speeches about inclusion, but to provide the infrastructure that enables it,” Mohammed said.
He added: “The free POS terminal offering does not end at the Trade Fair complex. Eligible MSMEs can access the service at our branches in Kaduna and nationwide. Our goal is to remove bottlenecks that limit business growth and bring more entrepreneurs into the formal financial ecosystem.”
The bank also commended KADCCIMA and the Kaduna State Government for sustaining a platform that promotes enterprise development and regional commerce, reaffirming its commitment to long-term partnership in support of MSMEs.
The Alternative Bank provides non-interest financial solutions aligned with real sector growth, including working capital and asset financing, trade and supply chain financing, digital banking infrastructure, investment partnerships, and advisory services tailored to MSMEs, corporates, and public institutions.
Its participation at the 47th Kaduna International Trade Fair underscores the Bank’s strategic focus on deepening financial inclusion, strengthening local enterprise capacity, and translating economic reforms into tangible outcomes for Nigerian businesses.
