Micro, Small, and Medium Enterprises continue to face financing constraints despite ongoing economic reforms, the Alternative Bank said, as it highlighted structural barriers such as cash-based transactions, delayed payments, and weak credit histories.

The bank disclosed this during its participation at the 47th Kaduna International Trade Fair, where it deployed more than 300 free Point-of-Sale terminals to MSMEs operating across trade, retail, and service clusters.

In a statement issued on Friday after the event, the Executive Director, Commercial and Institutional Banking South and Central, Garba Mohammed, said practical interventions were required to help small businesses operate efficiently and build sustainable growth pathways.

He was represented by the Head of Corporate Social Investment, Solomon Okonkwo.

Addressing business leaders, entrepreneurs, traders, members of the Kaduna Chamber of Commerce, Industry, Mines and Agriculture, and government officials at the Kaduna International Trade Fair Complex, Mohammed said policy reforms on their own were not sufficient without integrating businesses into structured financial systems and modern payment infrastructure.

“Reforms set direction. But reforms alone are not results,” he said. “Results happen when MSMEs are formalised, transactions are traceable, and businesses can access finance without friction.”

He noted that MSMEs account for more than 96 per cent of businesses in Nigeria and employ over 80 per cent of the workforce, yet access to finance and digital infrastructure remains a major constraint, particularly in Northern Nigeria.

According to the statement, the bank provided the POS devices at no cost to over 300 MSMEs at the trade fair, removing an immediate barrier to digital payment adoption.

Beneficiaries were onboarded instantly and integrated into digital transaction systems 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 that the free POS terminal initiative would continue beyond the trade fair complex, stating that eligible MSMEs could access the service at the bank’s branches in Kaduna and nationwide.

“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,” he said.

The bank also commended the Kaduna Chamber of Commerce, Industry, Mines and Agriculture 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 said its participation at the 47th Kaduna International Trade Fair reflects its focus on strengthening financial inclusion and supporting local enterprise growth through non-interest financial solutions aligned with real sector development.