However, industry analysts indicate that despite the positive outlook, risk literacy remains a persistent challenge.

According to risk management experts, EIRS, this represents a gap that may be holding back the very financial inclusion that promises to uplift these important engines of job creation and innovation across Africa and the Middle East.

SMEs constitute an overwhelming majority of firms in the Middle East and North Africa, about 96% of registered companies and roughly half of employment, yet they receive just 7% of total bank lending, among the lowest globally.

In sub-Saharan Africa, SMEs often find themselves starved of capital, with many reporting limited access to loans or credit lines and enduring high borrowing costs that dwarf those in more developed markets.

Digital finance growth

The digital finance revolution, powered by mobile money, e-lending, and embedded financial services, has unlocked new avenues for inclusion. Digital solutions tailored for SMEs are growing rapidly, with fintech adoption rising across the region with digital platforms designed for business invoicing recording positive uptake in 2024. However, access is only part of the puzzle.

“What we’re seeing is that SMEs can reach digital finance solutions, but many still can’t use them effectively. Risk literacy, understanding credit, insurance, cash-flow dynamics and digital finance mechanisms, is the missing bridge between access and sustainable growth,” noted Abhishek Jain, chief executive officer, EIRS.

This gap has real business impact. While digital payment adoption in some markets is high, for example, 91% of Kenyan SMEs now use digital payments, many still lack the financial and risk acumen to leverage that access into credit worthiness, scalable lending, or meaningful insurance coverage.

Risk literacy is key

Across the region, the potential of SMEs remains high but despite their significant contribution to employment in Africa, they still face a persistent financing deficit. Without risk comprehension, lenders often view these enterprises as high-risk or unbankable.

Even in markets where mobile fintech adoption is strong, understanding remains uneven. Financial literacy enhances adoption with research showing that numerically and digitally literate SME owners are substantially more likely to adopt mobile banking, which in turn, improves their financial outcomes.

This dynamic illustrates why risk literacy, not just access, is the linchpin to inclusive finance.

Financial inclusion and risk literacy aren’t merely aspirational goals; they can concretely improve macroeconomic performance. Based on the IMF analysis, closing financial inclusion gaps could boost annual growth rates by up to 1% over the medium term in SME-dependent regions.

According to Abhishek, the conversation must shift from access to competence. “Policymakers, fintechs and financial institutions need to embed education into the SME onboarding process,” he noted. “When entrepreneurs comprehend risk, and can articulate it, lenders respond with capital, insurers design appropriate products, and ecosystems flourish.”

When risk literacy is elevated to strategic priority, SMEs may finally unlock their potential. And for the millions of entrepreneurs across the MEA region, understanding risk could be the key that turns inclusion into sustainable success.

For its work executing the vision of Airtel Africa Foundation locally, Airtel Nigeria received nominations in two highly competitive categories: Best Company in Environmental Stewardship and Best in Technology for Development.

Highlights of the nominations included Airtel’s long-standing commitment to digital inclusion through investments in programmes such as the Federal Government’s Three Million Technical Talents (3MTT) initiative.

The SERAS, now in its 19th year, is noted to be Africa’s most consistent platform for recognising excellence in corporate social responsibility and sustainability.

This year’s ceremony brought together top organisations committed to improving lives, protecting the environment, and supporting national development.

While acknowledging the progress of sustainability efforts in Africa, Ken Egbas, SERAS founder, applauded Airtel for championing sustainable development across the continent.

Egbas said,

“This year’s record number of entries once again demonstrates just how far the sustainability movement has advanced across Africa. Businesses, governments, and non-profits are no longer treating sustainability as a side initiative but as a core pillar of growth, competitiveness, and long-term legacy. With leading organisations such as Airtel committing to not only doing the work but also telling the stories, the future looks even more promising.”

Airtel Nigeria’s recognition at the 2025 SERAS reflects its leadership in technology-driven empowerment, with the 3MTT sponsorship, for example, resulting in the training of 25,000 young Nigerians across 46 Local Government Areas while the Reimagine Education partnership with UNICEF has connected 942,670 public school pupils in 1,268 schools to digital learning.

Reacting to the award, Dr Segun Ogunsanya, chairman, Airtel Africa Foundation, reiterated the organisation’s dedication to digital inclusion and national development.

Dr Ogunsanya said, “This award strengthens our resolve to keep driving meaningful change through innovation and improved access for Africans. Technology remains one of the most powerful tools for social and economic transformation, and we are proud to contribute to Nigeria’s progress by ensuring that more people, communities, and institutions can benefit from the opportunities it creates.”

Commenting on the win, Dinesh Balsingh, chief executive officer, Airtel Nigeria, expressed gratitude to the organisers and reaffirmed the company’s dedication to sustainability.

 “We are thankful to the organisers of the SERAS awards and accept this honour as a confirmation that our contributions in communities across Nigeria are making a notable impact.

To us at Airtel, sustainability is never just a box to tick; it is a long-term responsibility that we are pleased to assume,” he said.

Airtel Nigeria’s recognition at the 2025 SERAS extends its leadership in technology development and environmental stewardship.

The company continues to champion digital inclusion, youth empowerment, education, and green initiatives that support Nigeria’s long-term development goals.