Boost and Mastercard Join Forces to Digitize MSME Distribution Networks
Boost is a B2B commerce platform that helps manufacturers and distributors in Africa's convenience economy digitize their operations.
Boost, a leading B2B commerce platform, has partnered with Mastercard to empower micro, small, and medium enterprises (MSMEs) operating in last-mile fast-moving consumer goods (FMCG) distribution networks. This collaboration aims to provide digital payment options, embedded credit, and supply chain finance solutions to small businesses across emerging markets, starting in Egypt, Kenya, Nigeria, Ghana, and South Africa.
The partnership aligns with Mastercard’s ambitious goal to bring one billion people and 50 million MSMEs into the digital economy by 2025. “Small businesses are the backbone of thriving economies, yet they often face significant barriers to growth,” said Amnah Ajmal, Executive Vice President of Market Development for EEMEA at Mastercard. “Through our partnership with Boost, we are strengthening the support ecosystem for MSMEs in emerging markets by providing essential digital tools and financing solutions to help them succeed in today’s digital economy.”
Boost’s innovative platform simplifies end-to-end FMCG distribution by digitizing payments and offering direct-to-retailer promotions, enabling small businesses to operate more efficiently. Its tools, including a popular WhatsApp ordering system and embedded financing, are designed to support distributors and retailers in urban, peri-urban, and rural settings. “We are thrilled to partner with Mastercard to empower small businesses in last-mile global distribution networks,” said Mike Quinn, co-founder and CEO of Boost. “This collaboration allows us to create transformative value for our customers and partners while fueling our global ambitions.”
MSMEs play a critical role in global economies, accounting for over 90% of businesses, 60-70% of global employment, and 50% of GDP worldwide. Despite their importance, these businesses face a $5.7 trillion financing gap, according to the SME Finance Forum. By leveraging Boost’s technology and Mastercard’s acceptance solutions, this partnership aims to bridge that gap, giving small businesses access to much-needed financial tools and a more inclusive digital economy. Together, Boost and Mastercard are helping MSMEs thrive in a rapidly changing world.
Read more in Mastercard Newsroom
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