Governor Babajide Sanwo-Olu’s administration in Lagos State has said it is targeting the distribution of one million Point of Sale (POS) machines to youths, men and women before the end of the present regime with a view to creating jobs and boosting small-scale enterprises.
Answering questions at the onboarding event for 1,425 recipients of PoS machines in Lagos yesterday, , the Commissioner for the Ministry of Wealth Creation and Employment, Hon. Akinyemi Bankole Ajigbotafe emphasised the necessity of bolstering small enterprises in light of the increasing prominence of e-commerce, which necessitates the adoption of PoS systems to improve customer interactions.
He remarked that the demand for PoS devices is on the rise, significantly influencing the needs of small businesses for accessible and economical payment solutions.
He stated, “The POS technology we are providing serves as a vital tool in the commercial landscape. It enables smooth transactions, enhances customer convenience, and greatly mitigates the risks associated with cash handling. With the PoS machine, you are empowered to deliver efficient payment options to your customers, thereby enhancing their shopping experiences and fostering loyalty.”
He emphasised the government’s commitment to facilitating the digitization of sales and business operations for small merchants and retailers.
He further stated that ongoing support will be provided to assist them in gaining access to capital, markets, and digital solutions, in addition to enhancing their capabilities through training and mentoring.
Through a partnership with Wema Bank, he mentioned that the government aims to deliver comprehensive digital point-of-sale services and an array of digital business management tools to small enterprises.
He asserted that the innovation would enhance the acceptance of digital payments, thereby allowing small businesses to improve their working capital and expand their growth prospects.
With a vast number of small businesses operating within the state, he highlighted the significant opportunity to expedite the digitalization of POS systems and strengthen the overall retail sector.
The Permanent Secretary, the Ministry of Wealth Creation and Employment, Dr. Biodun Onayele, indicated that the provision of POS machines was a collaborative effort between Wema Bank and the ministry.
He highlighted that this initiative is not solely focused on the distribution of machines but is also a pledge to empower citizens and improve their ability to thrive in the digital economy. He remarked, “In recent times, we have seen a rapid evolution in the banking industry, with digital transactions becoming increasingly prominent. The surge in e-commerce and the growing demand for cashless transactions have opened up significant opportunities for small and medium enterprises, as well as individual entrepreneurs. To effectively navigate this evolving landscape, it is vital that we equip our citizens with the appropriate tools and technology.”
The Registrar-General of the Corporate Affairs Commission (CAC), Alhaji Hussaini Magaji, represented by Assistant Director and Deputy Director of the Lagos Office, Tosan Mabuyaku, praised the state government for its commendable initiative aimed at enhancing the capabilities of entrepreneurs.
He emphasised CAC’s commitment to collaborating with the Lagos State Government to facilitate the transition of PoS entrepreneurs into micro, small, and medium enterprises (MSMEs), thereby contributing to economic development.
Furthermore, he highlighted that CAC is actively engaging with various institutions and agencies in both the private and public sectors to optimise the registration process, ensuring compliance with established service delivery timelines.
Credit: thenationonlineng.net
