BudPay introduces analytic data platform to strengthen SMEs

BudPay has launched its B-Business platform to provide small and medium enterprises (SMEs) with access to data insights essential for optimising their operations and driving growth.

The Head of Product at BudPay, Rowland Okondor, emphasised that across Africa, many small businesses lack the resources for dedicated analytics teams or sophisticated data tools, despite the sector being the backbone of economic activity, contributing 90 per cent of business operations.

Okondor highlighted that 73 per cent of these businesses do not have access to the data insights necessary for growth.

“With BudPay Business, we are democratising access to actionable business intelligence, enabling SMEs to make data-driven decisions without the usual complexity,” he stated.
Okondor noted that while digital payments are surging across Africa, the real revolution lies in the wealth of data these transactions generate.

He explained that the B-Business platform goes beyond traditional payment systems by eliminating operational silos.

“Payments received are seamlessly integrated into a company’s operations, removing the burden of manual reconciliation. When you send someone a bank account for payment, you still have to reconcile it with your business operations. With BudPay Business, all payments are immediately harmonised with your system,” he explained.

He said in addition to streamlining operations, BudPay is addressing longstanding challenges such as the complexity of intra-African trade.

Okondor pointed out that despite the continent’s vast potential, intra-African trade accounts for only 12 per cent of total trade volume, compared to Africa’s trade with China, which reached a record $282.1 billion in 2023.

He said this disparity stems from systemic barriers, including poor infrastructure, high transport costs, and limited regional integration.

Okondor explained that BudPay is working to overcome these obstacles through strategic partnerships and innovative payment infrastructure, aiming to simplify cross-border transactions and unlock new opportunities for African businesses.

Okondor also noted that BudPay’s innovation represents a broader shift in African fintech, moving beyond simply facilitating faster transactions to empowering businesses through data.

He stated that by turning transaction data into actionable insights, BudPay equips SMEs to understand customer behaviour, optimise operations, and grow sustainably.

He said that with the launch of the B-Business platform, BudPay is setting a new benchmark for financial technology in Africa, enabling SMEs to harness the power of data and drive economic transformation across the continent.