Telecommunication giant, MTN has identified the high cost of 5G mobile phones as a barrier to the adoption of the 5G network in Nigeria.
MTN Chief Marketing Officer, Adia Sowho, stated this yesterday during the unveiling of the smartphone finance initiative with Intelligra.
The initiative will allow many Nigerians to own 5G-enabled smartphones. Some of the available smartphone makers include Samsung, TECNO, Nokia, Infinix, and iTel, among others.
Speaking at the press conference, the chief marketing officer of MTN Nigeria, Adia Sowho said: “Smartphones have become the computer for many Nigerians today. Unfortunately, the high costs of these devices have made them out of reach for many. Factors such as forex fluctuation, chipset shortages, and inflation are continuously driving up the cost of phones.”
She further added that the initiative which started with Intelligra in January 2022 is now domiciled in more than 200 outlets across the country with 20,000 devices alrady financed through the initiative.
She further noted that MTN aims to achieve 1,000 units daily through the initiative as the company plans to onboard more outlets, especially in the North.
This will complement MTN 5G network which the company recently rollout in some selected cities in Nigeria.
Investors King learnt that potential beneficiaries of the initiative can walk into any of the accredited outlets and get a smartphone with zero initial capital deposit while the repayments are made through airtime.
Meanwhile, the Chief Executive Officer of Intelligra, Mr. Tayo Ogundipe, said smartphone financing is an initiative that is prevalent in many developed countries, enabling people to acquire any device of their choice and pay over time.
He also stated that while they plan to onboard more outlets are underway, some of the outlets which are already part of the deal include Slot, Credit Direct, Omali Agent Network others.
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MTN Evaluates Exit from Three African Markets Amid Regional Challenges
African telecommunications giant MTN is reportedly contemplating an “orderly exit” from its operations in Guinea-Bissau, Guinea-Conakry, and Liberia, according to a report by Business Insider Africa.
The company, which currently operates in 19 countries across Africa and the Middle East, aims to streamline its portfolio and address challenges in the West and Central Africa (Weca) region.
While the exact reasons for the potential exit remain undisclosed, MTN’s financial reports indicate broader challenges in the Weca segment.
CEO Ralph Mupita highlighted concerns over inflation and currency devaluation in multiple markets.
The company’s 2022 financials revealed a 1.7% decline in EBITDA margin due to pricing pressures, fintech channel subsidies, and macroeconomic hurdles.
Although Guinea-Bissau, Guinea-Conakry, and Liberia contribute only 1.6% to MTN’s total revenue, the move aligns with the company’s strategic focus on optimizing its market presence.
MTN holds a significant market share, approximately 30%, in Guinea-Bissau and Guinea-Conakry, while Lonestar MTN is the second-largest telecom operator in Liberia.
The potential exit reflects MTN’s commitment to adapting its business strategy to navigate the evolving economic landscape and optimize its portfolio for sustained growth.
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