Just a few days after MTN announced that it intends to obtain a payment service banking license for its Nigerian operation, the company has partnered tier-2 lender, Sterling Bank Plc and PayJoy on a project called Device Financing Scheme (DFS) which makes it easy for customers to acquire smartphones.
This scheme will enable MTN customers who meet some specific conditions to buy their smartphones and pay over a six-month period. Smartphones that can be purchased under this scheme range from the prices of N25,000 to N400,000. Participating customers would also receive some 20% interest.
In his speech during the launch event for the DFS initiative, MTN Nigeria’s Adekunle Adebiyi (a Sales & Distribution Exec.), said it is the desire of the telco to ensure that more people stay connected.
“MTN wants every customer to benefit from the modern, connected life and it is through partnerships like this that we will see the kind of change that we want to see.” – Adebiyi
This is almost similar to what Airtel Nigeria did recently
Note that this latest development is almost similar to a recent partnership between Airtel Nigeria three of the leading phone brands namely Infinix, Itel, and Tecno.
Partnerships like these are constantly happening in Nigeria’s very competitive telecoms industry where each of the major players always makes efforts to strategically position for stronger market share and profitability.
Meantime, MTN is leading the market despite its recent regulatory challenges
MTN Nigeria Communications Limited has remained the leading telecoms provider in Nigeria despite its recent run-ins with the Nigerian authorities. Recall that the the Nigerian Government recently demanded that the telco (and its Johannesburg-based parent company) must return the total sum of $10.1 billion.
The is money the company has been accused of illegally remitting to South Africa as well as owing the Nigerian Government in back taxes.