Nigeria’s fifth generation (5G) telecom service provider MTN has identified the high cost of 5G smartphones as a major entry barrier to customers.
Its Chief Marketing Officer, Adia Sowho, spoke yesterday during the unveiling of smartphone finance initiative with Intelligra.
He also said most financing schemes in the market are capped at $150.
According to her, chipset shortages, foreign exchange fluctuations and other economic factors also exacerbated the challenge of access to smartphones that are 5G compliant.
She said the partnership with Intelligra, Stanbic Bank and other original equipment manufacturers (OEMs) would lead to easy access to mobile phones which will in turn lead to expansion of economic freedom.
She said 20,000 devices have been financed and hopes to achieve 1,000 unit daily financing transactions by next year.
Also speaking on the occasion, CEO of Intelligra, Tayo Ogundipe said the mission of the company is to partner with key stakeholders in driving digital and financial inclusion including accelerating smartphone adoption in the country.
According to him, the initiative will not be an OEM specific initiative but will give opportunities to everyone.
Currently, Nokia, Slot, Tecno, Credit Direct, Omali Agent Network are part of the deal.
Senior Manager, Devices, at MTN, Clement Nwankwo, said the marriage started in January this year with the aim of getting more Nigerians connected to enable them to do more with their smartphones taking advantage of the super-fast speed 5G is providing.
Nwankwo said by 2025, every Nigerian should be able to own a device to promote financial inclusion and improved lifestyle.
CEO Slot System, Nnamdi Ezigbo, expressed pleasure in partnering with giants, stressing that Intelligra’s strategy of device access is the best.
According to him, the mobile phone industry is approaching maturity adding that value addition with inflation, forex creating holes in people’s pockets.