AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Spaces currently supports nine sectors: grocery and retail, eateries and restaurants, pharmacies, movies and cinema, transport, spas and salons, schools, hotels and shortlets, and serviced offices. A business in one of these sectors can join by opening a Pryme Business Account; businesses outside them cannot join yet.
The nine supported sectors
Spaces is Pryme's network of merchants where customers spend Loans on Spaces, credit lent by Solid Allianze MFB that can only be used inside the network. The sectors were chosen around everyday spending: things people buy every week, every month or every term.
| Sector | Typical businesses | What customers often buy |
|---|---|---|
| Grocery and retail | Supermarkets, provisions shops, mini-marts, household goods stores | Monthly foodstuff, toiletries, household items |
| Eateries and restaurants | Restaurants, quick-service outlets, canteens, cafés | Meals, family outings, office lunches |
| Pharmacies | Community pharmacies, pharmacy chains | Prescriptions, over-the-counter medicines, health products |
| Movies and cinema | Cinemas and screen venues | Tickets, snacks, group outings |
| Transport | Bus operators, ride services, travel operators | Commuting, intercity trips, travel for work or family |
| Spas and salons | Hair salons, barbers, spas, beauty studios | Regular grooming, treatments, event preparation |
| Schools | Private nursery, primary and secondary schools | Fees and school-related payments |
| Hotels and shortlets | Hotels, guest houses, serviced apartments, shortlets | Stays for work, family events, holidays |
| Serviced offices | Co-working spaces, serviced office providers | Desk passes, meeting rooms, monthly plans |
The examples in the middle column are illustrations of what each sector covers, not a list of named merchants. Pryme does not claim coverage of any particular business or city.
How to tell if your business fits
Ask yourself three questions:
- What do most of my customers pay me for? If the main answer sits in one of the nine sectors, you are likely to fit.
- How would I describe my business on a registration form? Use the same description when you apply. Accuracy matters more than clever wording.
- Is the sector part of my core trade or a side line? A supermarket with a small pharmacy counter is mainly a supermarket. Describe the main business and ask Pryme how the rest is treated.
Mixed and borderline businesses
Many Nigerian businesses do several things under one roof. A hotel may run a restaurant and a spa; a filling station may have a mini-mart; a school may sell uniforms and books. If your business spans sectors, raise it with Pryme through the contact page before you rely on any particular part of it being included.
What each sector tends to gain
The benefit differs by sector because spending patterns differ.
- Regular, predictable spend such as groceries and pharmacies: customers who can spread a large monthly shop or a prescription may choose a Spaces merchant for every visit.
- Lumpy, planned spend such as schools, hotels and intercity transport: a single large payment is easier for a customer when credit is available, which can bring bookings forward.
- Discretionary spend such as cinemas, restaurants and salons: credit helps customers say yes to an outing they might otherwise postpone, though merchants should never pressure anyone into borrowing.
- Business spend such as serviced offices: freelancers and small teams may use credit to cover a desk or room at the start of a month.
Sector-specific guides on pay-later already exist for pharmacies, private schools and hotels and serviced apartments.
If your sector is not supported yet
If your business falls outside the nine sectors, you cannot join Spaces for now. You can still open a Pryme Business Account for its other features, such as multicurrency balances, invoicing, bank-transfer checkout and the business agents. If you supply a sector that is supported, for example as a wholesaler to supermarkets, the businesses you supply may benefit from Spaces even though you do not join directly.
A worked example
Example only. Ifeoma runs a guest house with eight rooms and a small kitchen that serves breakfast and dinner to guests and some walk-in diners. Her main trade is accommodation, so she applies under hotels and shortlets. She asks Pryme whether walk-in meals at her kitchen count as well. Whatever the answer, she now knows before she prints any signs, which saves her promising something to customers that she cannot deliver. She also notes that her rooms see most bookings around weddings and public holidays, so she plans to tell past guests before those dates.
Next steps
If your sector is on the list, read How to join Spaces as a merchant for the steps, and What is Spaces? for the wider picture. Then think about how you will make the most of it: which products customers will want, how your staff will handle Spaces payments and how you will tell people you are in the network. It is also worth checking your own records first. NBS and SMEDAN survey work has repeatedly found that most micro businesses in Nigeria are unregistered and lack a business plan, and businesses that already keep clean records and a clear description of what they sell tend to find any account opening easier.
Questions people ask
Can a supermarket join Spaces?
Yes. Grocery and retail is a supported sector, so a supermarket can join by opening a Pryme Business Account.
Can a private school accept Loans on Spaces for fees?
Schools are a supported sector. A school that joins Spaces through a Pryme Business Account can receive payments from customers using Loans on Spaces.
My business is not in the list. Can I still join Spaces?
Not yet. Only businesses in the nine supported sectors can join. You can still use a Pryme Business Account for its other features.
Can a hotel with a restaurant join under both sectors?
Describe the main business when you apply and ask Pryme how the other parts are treated before you advertise them.
Sources
- NBS and SMEDAN: MSME National Survey presentation · accessed Oct 2026
- SMEDAN: 2021 National Survey on Micro, Small and Medium Enterprises · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.