MTN Nigeria, in partnership with Intelligra, an open platform for smartphone financing, with Stanbic IBTC and Slot Distribution Company, has brought smartphone financing to its customers in Nigeria.
The innovation, which is coming to MTN Nigeria customers for the first time, will enable them have access to 4G and 5G smartphones of their choice, without paying for the cost of the smartphone.
According to the partnership agreement, which was announced yesterday in Lagos during a press conference, the smartphone device comes with a monthly bundle of voice call and data plan, such that the cost of the smartphone device will be spread over a period of time that will enable the customer pay certain amount for the voice call and data plan that ranges from N7,000 to N18,100 per month, depending on the plan that the customer subscribes to.
Chief Executive Officer of Intelligra, Mr. Tayo Ogundipe, said the partnership, which officially started in January this year, had finally been sealed to offer credit access to Nigerians to own a smartphone device of their choice, without making a one-off payment, which might be too expensive for many Nigerians.
“The idea of smartphone financing is not just to sell the MTN broadband data, but to enhance digital and financial inclusion by making it easier for MTN customers to own a smartphone and tool that will help them shape their social media lifestyle, and enable them innovate and have business lifestyle of their choice. The total package comes with a smartphone device, monthly voice and data plan and other value added services,” Ogundipe said.
He further explained that the financing would allow customers to choose any smartphone from Original Equipment Manufacturers (OEMs) like Samsung, Tecno, Infinx, itel, Nokia, from retail shops like Slot, when the online transactions are completed.
Chief Executive Officer, Slot Systems, Dr. Nnamdi Ezeigbo, said Slot would use its retail outlets as point of physical collection of the smartphone device of choice, after the online registration and transactions are concluded.
“Our mission is to create value for our customers and we will be offering quality smartphones to MTN customers from our 75 retail outlets spread across the country,” Ezeigbo said.
He commended MTN and Intelligra for the initiative, which he said, would put smartphones in the hands of many Nigerians.
Chief Marketing Officer of MTN Nigeria, Adia Sowho, said financing of items was still new in Nigeria, while expressing optimism that the partnership will help MTN customers to achieve financial freedom and have access to 4G and 5G smartphone of choice at affordable price.
“So far, MTN has financed 20,000 devices and the partnership with Intelligra will enable us to finance 1,000 devices each day, beginning from 2023,” Sowho said.
Giving details of the smartphone financing, Sowho said should any customer lose his or her smartphone or experience a broken smartphone screen during the financing period, the customer automatically gets a replacement. She however said the financial lifestyle of the MTN customer on the MTN network, would qualify customers for the financing.
To benefit from the financing, MTN customers will first register online, fill the necessary documents online and get qualified for the smartphone financing.