The Digital Leap Initiative: A Strategic Framework for Accelerating SME Digitalization in Emerging Economies

Abstract

SMEs continue to be the engine of the Nigerian economy, but the economic and business environment still prevents their prosperity due to insufficient access to capital, a disjointed digital environment, and an increasingly large digital skills gap. The Digital Leap Initiative offers a strategic framework to speed up the process of SME digitalization by using a multi-stakeholder approach and coordination of financial institutions, technology providers and the government. It has three pillars that are interdependent, such as Accessible Digital Toolkits that give SME-specific fintech-based solutions; Integrated Skills Development that aims to offer structured capacity-building solutions to address human capital gaps; and Smart Policy Incentives that will establish an enabling regulatory environment. Based on the case study experience in India and Brazil, the paper applies global best practices to the Nigerian context showing how digital adoption has the potential to turn SMEs into sources of resilience and inclusive economic development. The results emphasize the importance of collaboration-based policy, innovation-based finance, and development of human capital in sustainable digital transformation in emerging economies.