Citizens spend over 30% of their monthly income to purchase one, and this endangers Nigeria’s 2025 broadband penetration target.

With the option to Buy Now Pay Later (BNPL) identified as one of the initiatives to grow smartphone penetration to 60% by 2025, MTN and Intelligra’s partnership is a unique variant of BNPL that hopes to address this problem. 

The Opportunities:

Speaking on the device financing partnership with Intelligra, Adia Sowho, Chief Marketing Officer, MTN Nigeria said “With this partnership, customers will have the opportunity to;

1. Subscribe to any of the MTN bundle plans for as low as N7,000/month and walk away with a smartphone of your choice.
2. Pay over 6 – 12 months with as little as N0 initial deposit.
3. Plans are bundled with up to 100GB of data and 250 voice minutes monthly.
4. 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 partnership with Intelligra will drive financial inclusion, the digital goals of financing devices and making them accessible to the average man. It would also grant customers access to the internet, entertainment, and education and allow users to communicate easily,” she added.

The offer is a pocket-friendly route to owning a smartphone and by walking into any select MTN, SLOT and other retail stores across the country, MTN customers can acquire quality smartphones without breaking the bank.  

The offer comes with added benefits of monthly data allowance and voice call minutes, tenor periods (up to 12 months), increased financed amount (up to N500,000) and device protection against theft and screen damage.

According to Tayo Ogundipe, CEO/Founder, Intelligra Solutions Ltd, “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.

The ecosystem also includes leading smartphone retail chain in Nigeria, SLOT and other major retail players across the country. These collaborations offer MTN users across the country, a unique, convenient, simple and flexible variant of BNPL with their choice of premium, quality brands including Samsung, Nokia, Tecno, Infinix and iTel models.”

To enjoy this amazing offer, interested customers can check their qualification status at participating stores or from the comfort of their homes online through MTN and Intelligra’s websites. 

Other partners will offer these online qualification checks on their websites in the coming days. Once qualified, a customer can subscribe to any of the customised MTN device financing plans and leave the store with a dream phone. 

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Any Nigerian from the comfort of their home can check with their National Identity Number (NIN) and Bank Verification Number (BVN) to see the financing plan they qualify for. Once qualified for a plan (the amount to pay every month, MTN Bundle – Data and Voice), customers can visit the nearest SLOT to collect their devices.

From January to date, 20,000 devices have been financed via this initiative.

Speaking at the press conference, the Chief Marketing Officer of MTN Nigeria, Adia Sowho said the essence of this partnership is to create shared value, with the possibility to achieve all of MTN Nigeria’s goals with partners.

Sowho said MTN has come together with Intelligra, who in turn has come together with SLOT (Phone Distributor and Seller) and other various massive players in the banking sector and the microfinance banks as well to deliver financing for devices, to put smartphones in the hands of as many Nigerians as possibly.

“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.”

According to Tayo Ogundipe, CEO at Intelligra, the partnership with MTN and others goes beyond providing smartphones for Nigerians at convenience and is rather a move to boost digital inclusion and 5G adoption.

“We all believe that digital financial inclusion is a must to leapfrog this continent forward. That is the goal is not just about the phone, is not about data. It’s about coming together to bring our people into the digital world, which in turn opens the door to financial inclusion, which is how we improve the quality of life for our people, and quite frankly, unlock wealth for a big chunk of our people as well.’

Nnamdi Ezeigbo, Chief Executive Officer, SLOT Systems Limited explains that they are excited about the partnership and ready to deliver with said there are over 75 retail stores, which are strategically located across Nigeria.

“We are a platform for this kind of transaction. So, that’s what we’re bringing to the table, the quality of service. And the fact that we are selling quality products is very proper for this kind of partnership.”

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