Suitroh, Banks Collaborate to Address Supply Chain Hurdles Facing SMEs

In a major move aimed at resolving persistent supply chain challenges faced by small and medium-sized enterprises (SMEs), Nigerian fintech company, Suitroh, has partnered with several banks to strengthen SME financing and logistics support across the country.

The partnership is designed to provide integrated solutions that combine digital supply chain management tools with accessible financing models tailored to the unique needs of local SMEs. The initiative seeks to improve the flow of goods and services, reduce delays in procurement, and empower small businesses to grow sustainably.

According to executives from Suitroh, the firm has developed a tech-driven platform that allows SMEs to manage their inventory, connect with verified suppliers, and access real-time data to improve decision-making. The platform will also be integrated with partner banks’ financing products to enable seamless access to working capital, trade credit, and invoice factoring services.

Speaking on the development, the Chief Executive Officer of Suitroh, Kehinde Akinleye, said the partnership marks a new era for SMEs in Nigeria, where supply chain constraints have long hindered business growth and productivity. “Many small businesses suffer not because of lack of demand, but due to their inability to manage supply and fulfil orders efficiently. This collaboration will eliminate bottlenecks and give SMEs the tools and funds they need to thrive,” he said.

Akinleye noted that the fintech’s solution is designed to cater specifically to the informal and semi-formal sectors, which often lack structured procurement systems or reliable access to credit. By digitising the procurement and supply process, Suitroh aims to reduce leakages, improve accountability, and strengthen trust across the value chain.

The banks involved in the partnership, though not named publicly, are said to include both Tier-1 and mid-level institutions with a strong focus on SME lending. Through their collaboration with Suitroh, they will be able to expand their SME portfolios while mitigating risk using the tech company’s data analytics and transaction transparency features.

Industry observers have praised the development, calling it a step in the right direction for bridging the SME financing gap. According to recent data from the Nigerian Bureau of Statistics (NBS), SMEs account for over 90 percent of businesses in Nigeria but continue to struggle with accessing finance, sourcing materials, and navigating unreliable supply chains. Initiatives like Suitroh’s could provide the infrastructure needed to formalise the sector and unlock its full potential.

An SME operator in Lagos, Funmilayo Adebisi, welcomed the news, stating that unreliable suppliers and lack of timely credit have negatively affected her ability to fulfil large orders. “If this new platform gives us access to genuine suppliers and quick funding, it will be a game-changer. Too often, we lose business because we cannot meet demand quickly,” she said.

Meanwhile, experts say the success of this partnership will depend on how well Suitroh and the banks can scale the solution across different sectors and regions. Nigeria’s supply chain challenges are particularly severe in manufacturing, agriculture, retail, and construction — sectors where delays in sourcing goods or materials can cripple operations.

Dr. Ayodeji Ogun, a supply chain analyst, pointed out that while digital tools are useful, many SMEs still lack digital literacy or internet access in rural areas. “Suitroh and its partners must also invest in training and outreach, so small businesses understand how to use the tools effectively. It’s not just about deploying technology — it’s about building trust and usability,” he said.

To that end, Suitroh has disclosed plans to launch a nationwide onboarding campaign targeting over 50,000 SMEs within the next year. The campaign will include digital literacy workshops, onboarding support, and promotional incentives for early adopters.

The Central Bank of Nigeria (CBN) has also been informed of the development. Sources close to the apex bank say the partnership aligns with its ongoing efforts to strengthen SME financing and deepen financial inclusion in the country. While no official comment has been made, there is optimism that the CBN may eventually offer regulatory or funding support to scale the initiative.

In addition to improving domestic trade, Suitroh believes the platform will eventually boost export capacity for Nigerian SMEs by enabling them to meet higher standards of efficiency and transparency. This could improve Nigeria’s trade balance and create jobs in local supply chains.

As the country continues to explore solutions for post-pandemic economic recovery, collaborations such as this between fintechs and traditional banks are being seen as crucial to building a more resilient and inclusive economy. With its innovative approach to solving long-standing issues in SME supply chains, the Suitroh-bank alliance could serve as a model for other sectors struggling with similar challenges.

For now, many SMEs are watching closely, hoping that the long-awaited breakthrough in logistics and finance is finally on the horizon.