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  In Nigeria, MTN Nigeria wants to drive 5G adoption with smartphone financing. To achieve this goal, the telecom giant has partnered with Intelligra, an open platform for smartphone financing. The goal is to drive smartphone penetration in Nigeria to 60% by 2025 through a Buy Now Pay Later (BPNL) alternative.
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In a 2021 report published by Alliance for Affordable Internet, only an estimated 44% of over 200 million Nigerians have access to smartphones. The report noted a huge gap between the prices of smartphones and the average income earned in Nigeria. The report also pointed out that the average smartphone costs the sum of ₦25,000, about 37.46% of Nigeria’s average monthly income. Further, it revealed that the global average is 20%, and Nigeria’s cheapest 4G smartphone currently sells for about ₦35,000, above the country’s minimum wage of ₦30,000. In a bid to address this problem, the Chief Marketing Officer of MTN Nigeria, Adia Sowho, disclosed that “With this partnership, customers will have the opportunity to subscribe to any of the MTN bundle plans for as low as N7,000/month and walk away with a smartphone of their choice.” 
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Sowho further stated that these customers can “pay over six to 12 months with as little as no initial deposit; plans are bundled with up to 100GB of data and 250 voice minutes monthly as well as redeem a one-time free screen replacement when broken and receive a one-time free phone replacement when stolen, provided the customer has an active and up-to-date subscription.” The MTN smartphone finance project is supported by Original Equipment Manufacturers (OEMs) such as Samsung, TECNO, Nokia, Infinix, and iTel. 
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Aside from smartphone penetration, the telecom company aims to also push the adoption of its 5G mobile network that was rolled out in August 2022. Sowho further added, “Through this initiative [launched in January 2022], we have financed over 20,000 devices. With the launch of 5G, MTN is deepening its partnership with Intelligra to drive 5G mobile device growth. By 2023, we want to achieve 1,000 units of devices daily transactions even as we onboard more outlets, especially in the North,”. Upon its launch in August, MTN Nigeria rolled out its 5G network across 190 sites across nine states, namely, Anambra, Borno, Delta, Edo, Imo, Kano, Lagos, Rivers, Oyo, and the Federal Capital Territory, Abuja, making it the first telecommunication provider in Nigeria to roll out the network. The 5G sites are expected to expand to 600 by October 2022. Featured Image Source: Futurenomic
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This article was first published on 19th October 2022

nnaemeka-emmanuel

Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.

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