In a recent interview with Arise TV, Karl Toriola, the CEO of MTN Nigeria, talked about the company’s initiatives aimed at enhancing the affordability and accessibility of smartphones in Nigeria.
He emphasized the obstacles and potentials within the Nigerian market and outlined MTN’s strategies to foster digital inclusivity.
Toriola recognized that the affordability of devices poses a significant barrier to digital inclusion in Nigeria. He observed that despite a global decrease in smartphone costs, the initial expense remains prohibitive for many Nigerians.
Additionally, he underscored the benefits of local assembly and financing schemes in further reducing smartphone costs.
He elaborated, stating, “Local assembly offers several advantages. Firstly, it can lower production costs, eliminate customs duties, and facilitate handset financing. To establish a functioning financing ecosystem, we require comprehensive credit scoring histories to assess lending eligibility and recovery capabilities.”
He disclosed MTN’s ongoing partnerships with various African companies to develop this financing ecosystem. Toriola believes that integrating mobile money and credit scoring with this approach can enhance smartphone affordability for Nigerians.
MTN’s collaboration with Intelligra, an open platform for smartphone financing, plays a crucial role in MTN’s goal to make smartphones more accessible to the average Nigerian. Intelligra’s proficiency in credit access and financing solutions complements MTN’s telecommunications services, resulting in a beneficial synergy for customers. A similar collaboration also exists with M-Kopa.
Through these partnerships, MTN customers can select from a range of smartphone models and pay for them in installments, thereby making the devices more affordable.
This strategy not only promotes digital inclusion by simplifying smartphone ownership for customers but also advances financial inclusion by providing a credit option.
MTN’s focus on smartphone financing and digital inclusion, along with its partnerships with Intelligra and M-Kopa, demonstrates a strategic commitment to enhancing digital and financial inclusion in Nigeria.
These endeavors not only widen smartphone access but also contribute to the broader socioeconomic progress of the country.
