MTN Business Supports Microfinance’s Drive for Financial Inclusion

Emma Okonji

The MTN Business, which is the business-to-business unit of MTN Nigeria, has called on Microfinance Institutions (MFIs) to embrace cost-effective and operationally efficient solutions in the management of their businesses, using the MTN Business Solution that supports microfinance’s drive for financial inclusion.

The solution is designed to enhance the operations of MFIs in the country, by helping them reach out better to the country’s unbanked and financially underserved population.

The MTN Business Solution was the focus of a recently held forum, organised in Lagos by MTN Business, with the theme: MTN XaaS – Helping MFIs Drive Financial Inclusion.

Speaking at the forum, the Acting Chief Enterprise Solutions Officer, MTN Nigeria, Mr. Tsola Barrow, who was represented by the Senior Manager, Enterprise Marketing, Mr. Olutayo Egunjobi, said, “Technology has become a key differentiator and enabler for businesses, and this is why the MTN XaaS: Micro-Banking Software-as-a-Service solution was introduced to take the operations of MFIs to another level. The idea was to provide a highly secure, cloud-based solution that, by design, could be implemented within a short time without licensing or setup costs.”

“MTN Business is committed to delivering value and driving business growth in Nigeria through tailor-made, productivity-enhancing solutions. We also recognise that microfinance banks provide a huge funding platform for SMEs. Thus, enhancing the service delivery of these banks makes access to funds easier for SMEs, ultimately impacting positively on the economy,” Barrow, added.

Managing Director of MBA Microfinance Bank Limited, Mr. Bode Ajayi, described MTN XaaS as very fast and as the best of all the software solutions he had used till date. He added that the solution provided remote access and authorization to carry out transactions from anywhere via a secure private or public connection.

“I really feel good knowing that I can login from anywhere in the world and query transactions being done in Nigeria. It gives me a sense of control and authority,” he affirmed.

MTN XaaS was launched in 2012, in collaboration with Computer Warehouse Group (CWG) Plc. It offers a range of cloud-based services designed to provide server, software, storage and security benefits over a secure internet connection without any of the associated Information and Communications Technology (ICT) infrastructure costs. With the solution, MFIs in Nigeria can avoid tying down huge capital in expensive ICT infrastructure since the service is offered on a subscription model.