Airtel, with over 57.6 million subscribers recorded in May this year, is the second-largest telecom operator in Nigeria, according to data from the Nigerian Communications Commission (NCC).
However, significant delays in receiving the required licences may have prevented some of Nigeria’s unbanked population – around 36% of an adult population of approximately 106 million people – from accessing financial services, especially when financial inclusion targets are high on the government’s agenda.
Any regulatory hurdles, however, should be reframed as the CBN, “protecting the country and safeguarding its economy“, says Muyiwa Ebitanmi, CEO and MD of SmartCash Airtel Africa’s mobile money subsidiary, adding that the company works with all regulators in Nigeria to ensure that the business complies with all regulatory guidelines.
Although Ebitanmi paints a picture of collaboration and mutual
There's more to this story
Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
Already a a subscriber Sign In
Also in this in Depth:
taking a gambleGhana: Betting tax stirs public anger, experts’ doubts over economic impact Controversy is brewing in the West African nation as the government’s recent introduction of a 10% withholding tax on betting and lottery winnings ignites public discontent.
predicted declineIEA-OPEC clash ‘beginning of the end’ of fossil fuels? According to the International Energy Agency the decline of oil, gas, and coal is imminent. Producer cartel OPEC has hit back, calling the forecasts ‘alarmist’.
VALUE ADDCEO Heinie Werth: Sanlam-Allianz joint venture a long-term play in Africa SanlamAllianz Africa is a newly launched holding company domiciled in South Africa with a commitment to the whole continent, according to the CEO.