MTN Nigeria Partners with Intelligra to Drive Financial Inclusion in the Country

South African telecommunications company subsidiary in Nigeria, MTN, has signed a partnership with a smartphone financing company, Intelligra through its device financing program. This occurred at a press conference on October 12 where it announced its collaboration with SLOT, Stanbic, VFD MFB, PT MFB and Credit Direct to enable flexible payment options and access to smartphones in the country as it plans to adopt a buy-now-pay-later (BNPL) model.

With 44% of 206 million people having no access to smartphones in Nigeria, the scheme would enable a 16% increase by 2025. This initiative would as well increase the number of internet users gearing digital and financial inclusion in the country.

Speaking on the development, the CMO of MTN Nigeria, Adia Sowho noted that Nigerians spend more than 30% of their monthly income purchasing smartphones which poses threats to its penetration target by 2025.

Prerequisites to be a beneficiary include a registered MTN phone number, NIN/Driver’s License and Bank verification number (BVN) while monthly repayment is done via airtime or cash within 6 to 12 months. “With this partnership, customers will have the opportunity to subscribe to any of the MTN bundle plans for as low as N7, 000 per month and walk away with a smartphone of their choice. They can pay over 6 to 12 months with as little as zero naira initial deposit,” she said.

“Plans are bundled with up to 100GB of data and 250 voice minutes monthly, 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.”

Founder and CEO, Intelligra Solutions Ltd, Tayo Ogundipe, said: “This partnership with MTN, the foremost telecom provider in Africa and collaborations with financing institutions including StanbicIBTC, VFD Mfb, Personal Trust Mfb, Credit Direct Ltd and others has helped find a solution to smartphone penetration for Africans through increased digital and financial inclusion.

Available phone brands that are accessible to customers include Samsung, Nokia, Tecno, Infinix, and iTel models.