Economic Identities for Small Business Owners: Insights from Nigeria
Recent end-user research conducted by the GSMA Digital Identity programme highlighted that informal business owners in Nigeria – many of which are women – often struggle to demonstrate their personal and business credentials to service providers and customers. As a result, they often lack access to market information and support, pay more for financial services (such as business loans or capital), experience inequitable business relationships with suppliers, and struggle to distinguish their business from less-reliable or fraudulent enterprises. These findings suggest that there is a need for new, digital approaches to identity.
In this context, an ‘economic ID’ solution has significant potential.