How MTN Nigeria is Supporting FG's Financial Inclusion Strategy


Tuesday, June 29, 2021 / 06:50 PM / MTN / Header Image Credit: MTN 

Nigeria's leading telecommunications provider, MTN, has announced that it aided over 1.6billion naira worth of financial transactions via its Unstructured Supplementary Services Data (USSD) channels in 2020. The company disclosed this recently during its Annual General Meeting due to its massive impacts in contributing to the growth and transformation of over 11,000 businesses, including 2,100 corporations.


This reinforces MTN Nigeria's long-standing commitment to develop and provide innovative mobile financial solutions necessary for accelerating the economic growth and development of the country's formal and informal sectors. The annual report for FY 2020 indicates that MTN Nigeria, in its bid to make lives better and also lead a world of new digital realities, has connected over 112,500 Automatic Teller Machines (ATMs) and Point-Of-Sales (POS) devices. This has led to the creation of over 600,000 direct and indirect employment through its trade partners and agents.


Commenting on the financial transactions recorded via its USSD channels, Karl Toriola, the Chief Executive Officer (CEO) for MTN Nigeria, reiterated the company's commitment to drive financial inclusion across the nation through innovative digital solutions.


"As a Nigerian ICT-based company, we understand the essential position we occupy in terms of driving a nationwide digital financial inclusion campaign. This is because achieving financial inclusion across all levels is a key component required for the growth and development of the Nigerian economy, which we are passionate about. It is based on the need to drive a new digital world we have helped businesses and individuals to facilitate USSD transactions worth over 1.6billion naira. As such, we are proud to announce that we have supported the growth and expansion of over 11,000 businesses, including 2,100 corporations. We also can categorically state that through the connection of over 117,500 ATMs and POS devices to our network services, we have created over 600,000 direct and indirect employment nationwide," he said.


Speaking on the need to build sustainable digital infrastructure to promote economic prosperity, Dr. Ernest Ndukwe (OFR), Chairman of MTN Nigeria, noted that the organization remains committed to creating digital business solutions necessary for our contemporary business climate.


"Having understood the overriding challenges affecting the massive adoption of financial inclusion by Nigerians, MTN Nigeria is at the forefront of leading the creation of digital channels that would cater for the unbanked regions of the country. This is made evident as MTN Nigeria has created over 600,000 direct and indirect employment through trade partners and agents nationwide. This indicates MTN Nigeria's commitment to its purpose which is to make the lives of Nigerians better and brighter," he enthused.


It is crucial to note that since MTN Nigeria began its operations nationwide in 2001, it has remained the largest player in the Nigerian telecommunications and technological space. As such, it has continued to invest and deploy its technological-asset base to aid the expansion of businesses and economic growth.

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