Telcos key to bridging financial gaps – MTN

Telecommunications operators will undoubtedly play an indispensable role in bridging financial gaps and fostering inclusion, particularly in Nigeria, MTN Nigeria has said. 

Chief Corporate Services & Sustainability Officer of MTN Nigeria,  Tobe Okigbo,  disclosed this during a panel discussion at the Africa Breakfast Convos, held on the sidelines of the recent United Nations General Assembly (UNGA79), a statement on Wednesday by MTN has said.

Okigbo emphasised that telcos can leverage their extensive networks to connect Nigerians across diverse regions to essential financial services.

“Telcos are very instrumental in bridging the gap and promoting financial inclusion. Given our extensive reach, I firmly believe that telecommunications companies are instrumental in broadening access to digital financial services,” he said.

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However, there are serious challenges facing the industry that make it difficult for operators to fill this role.

“One of the biggest challenges we have in bridging the gap is access to devices. It goes beyond the lack of education because Nigerians can easily adapt to systems. However, not everyone has access to devices that enable digital financial services,” he stated, expressing optimism that solutions would emerge within the next three years to enhance financial inclusion in Nigeria.

The panel conversation, featuring Okigbo, in discussion with Claudine Moore of Allison Worldwide, Iyin Aboyeji of Future Africa, and Anie Akpe of African Women In Tech (AWIT), at Stagwell Commons inside The World Trade Centre in New York City, touched on wide-ranging issues ranging from digital transformation, to Africa’s business landscape, as well as the continent’s sustainable growth.

Tobe Okigbo lauded the innovation of African businesses across diverse sectors, highlighting their capacity to turn challenges into lucrative opportunities. “African businesses are not just solving local issues; they’re turning billion dollar problems into billion dollar opportunities,” he said.