Fintechs drive 5G mainstream adoption

MTN prepares to boost 5G adoption in Nigeria with smartphone financing

The technology company, MTN Nigeria, said it is following up on the launch of 5G with an initiative that will allow many Nigerians to own 5G-enabled smartphones. Through a smartphone financing initiative backed by original equipment manufacturers (OEM) such as Samsung, TECNO, Nokia, Infinix and iTel, among others, MTN said Nigerians will now be able to get smartphones easily.

Before now, industry experts have identified the high cost of smartphones, especially those that support 5G technology, as a major barrier to 5G adoption in Nigeria.

MTN, at a press conference in Lagos on Wednesday, said it also found this to be a huge challenge. She said this informed her decision to partner with Intelligra, an open smartphone financing platform in Nigeria, OEMs, Stanbic IBTC and popular gadget retailer Slot, to own smartphones and pay over an extended period without any initial deposit.

what are they saying

Speaking at the press conference, MTN Nigeria Chief Marketing Officer, Adiya Sooho said: “Smartphones have become the computer for many Nigerians today. Unfortunately, the high costs of these devices have put them out of the reach of many. Factors such as foreign exchange volatility, chip shortages and inflation are constantly increasing the cost of phones.”

She added that the current financing initiatives come with many challenges, which include high interest rates and initial deposits offered.

The news continues after this announcement

“We started our partnership with Intelligra in January 2022 and opened more than 200 channel ports where people can go in and get a smartphone without an initial deposit and pay overtime with airtime. Through this initiative, we have funded more than 20,000 devices. With the launch of 5G, it is working MTN is deepening its partnership with Intelligra to drive the growth of 5G mobile devices.

“By 2023, we want to achieve 1,000 units of daily device transactions even with more outlets, especially in the North,” she added.

The news continues after this announcement

Also speaking, Intelligra CEO Tayo Ogundebe said smartphone financing is a pervasive initiative in many developed countries, enabling people to get any device of their choice and pay over time. “Through our smartphone financing programme, we want to enable more people to own smart devices, not only in Nigeria but across Africa,” He said.

What you should know

  • With its commercial launch in September this year, MTN is the first and only network operator to launch 5G in Nigeria.
  • With the launch, Nigeria became 3research and development An African country that deploys technology after South Africa and Kenya.
  • 5G technology, an upgrade to 4G currently offered by all network operators in the country, enables much faster speeds and lower latency, giving customers near-instant access to the things they care about and downloads that take seconds, rather than minutes.
  • However, to receive a 5G signal, many Nigerians who currently use 4G phones will have to change to 5G-enabled devices.
  • Two telecom operators, MTN and Mafab Communications, won the license for 3.5GHz 5G spectrum in an auction held in December 2021 by the Nigerian Communications Commission (NCC).
  • During the launch of MTN, Mafab has until January 2023 to launch its service, according to an extension granted to it by the Nigerian Communications Commission (NCC).

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