Y Combinator-backed fintech Bujeti has entered a landmark partnership with Nigeria's Presidential Committee on Economic and Financial Inclusion (PreCEFI). This collaboration will provide the technological backbone for the 'SheIsIncluded' initiative, a government program designed to enhance financial access for 10 million Nigerians. The initiative places a strong emphasis on empowering women-led businesses and integrating the informal economy into the formal financial system.
A Strategic Alliance for Financial Inclusion
Nigerian small and medium-sized enterprises (SMEs) often grapple with fragmented financial systems, using separate platforms for payroll, vendor payments, and expense tracking. This disorganization leads to financial opacity, making it difficult for businesses to secure credit and hindering their growth potential. Finance teams frequently spend dozens of hours each month manually reconciling transactions, a process that stifles efficiency and scalability.
Bujeti addresses this challenge by offering a unified platform that consolidates corporate cards, multi-currency payments, and automated reconciliation. Under the new partnership, PreCEFI will provide the policy direction while Bujeti delivers the essential technology. Dr. Nurudeen Zauro, Executive Secretary of the committee, praised Bujeti as a 'formidable partner' for providing crucial support beyond just finance.
Empowering Women-Led Enterprises
The 'SheIsIncluded' initiative specifically targets the significant credit gap faced by women entrepreneurs in Nigeria. Despite owning 41% of the nation's SMEs, women face a 30% disparity in credit access, largely due to a lack of verifiable financial records. This financial invisibility prevents lenders from accurately assessing revenue, expenses, and overall business health.
Bujeti's digital tools directly tackle this issue by creating the transparency necessary for bankability. Features like automated financial reporting and controlled spending provide lenders with the clear, verifiable data they need to assess creditworthiness. By demonstrating strong financial discipline through the platform, women-led businesses can significantly improve their access to capital and investment opportunities.
The program extends beyond just providing software, aiming to train 10 million Nigerians in financial literacy and digital skills. Participants who adopt Bujeti will gain not only valuable knowledge but also the functional infrastructure to manage their businesses effectively. This dual approach ensures that training is immediately reinforced with practical, real-world application for sustainable business management.
From Startup to State Infrastructure
This collaboration marks a pivotal moment for Bujeti, elevating its status from a promising startup to a key partner in national economic development. The company's thesis, as articulated by founder and CEO Cossi Achille Arouko, is that financial visibility is a competitive advantage. This partnership with the government serves as a powerful validation of its model on a national stage.
The credibility gained from this presidential committee endorsement is expected to fuel Bujeti's regional expansion plans into markets like Ghana and Côte d'Ivoire. For a B2B infrastructure provider, institutional trust is a critical asset that distinguishes it from competitors. A fintech trusted by Nigeria's government carries significant weight with regulators and potential business clients across the continent.
Ultimately, this partnership between Bujeti and PreCEFI represents a bold strategy to formalize Nigeria's vast informal economy, which contributes nearly half of the nation's GDP. By equipping millions of entrepreneurs with tools for financial clarity, the initiative aims to make them bankable and unlock their growth potential. The success of 'SheIsIncluded' could serve as a powerful testament to how technology can achieve economic formalization where decades of policy have fallen short.