- Spotlight on fintech, digital and enterprise
- As sector minister suggests SMP status can be advantageous
As part of measures towards maintaining its position as market leader locally, and in line with its aspirations to replicate the same on the continent, telecommunications firm MTN has outlined its ‘Ambition 2025’ strategy, with focus on fintech, digital and enterprise.
In his address at the formal launch of the 25th anniversary of MTN’s operations in the country, its Chief Executive Officer (CEO), Selorm Adadevoh stated that this focus has informed his outfit’s sustained investment to evolve from merely a telephony company to a full-service delivery outlet.
He added that MTN’s goal of becoming the largest and most valuable platform business with a focus on Africa, will ensure it will be at the forefront, and the preferred agent, of the digitalisation drive required for the success of the African Continental Free Trade Area (AfCFTA).
Anchored on five pillars, namely – Fintech Solutions; Digital/ayoba; Enterprise; Network as a Service; and an API Marketplace, Mr. Adadevoh suggested that Ambition 2025 will position the business to capture the exciting opportunities across various markets.
“In this strategy, we see exciting opportunities for mobile commerce where fintech intersects with our ayoba business. We are hoping to aggregate APIs to accelerate the digital ecosystem expansion, for example, a customer should not need to interact with an agent to manage their MTN experience, all SMEs should be able to become digital without IT skills in house by leveraging our platforms,” he said.
He added that the strategy will complement the government’s aggressive digitalisation drive by enabling businesses to pay their taxes digitally via Mobile Money (MoMo); the use of solutions such as QR codes to make commonplace payments such as for buses or taxis payments and pay road tolls by scanning car number plates.
Other applications of smart solutions would include the ability to track criminals through digital safety cameras and stamp out MoMo fraud using artificial intelligence identity tracking algorithms.
SMP
With MTN holding in excess of 60% of the average subscriber market share of Mobile Network Operators (MNOs), well above the 40% threshold, it was duly declared a Significant Market Power (SMP) by the National Communications Authority (NCA) in 2020; a development which appeared to throw in chink in the wheel of the relationship between operator and regulator.
Despite this, Mr. Adadevoh expressed appreciation for the role and operations of the sector regulator and gave assurance of MTN’s commitment to fair and ethical business interactions.
“We appreciate all government, policy makers and regulators for your contributions in advancing policy from deregulation to creating the enabling environment for the dream of a digital Ghana to be possible. We appreciate your guidance and contributions to shaping the industry over the years, even when you use a stick,” he said.
On a similar tangent, the Minister responsible for Communication and Digitalisation, Ursula Owusu Ekuful, said that the SMP status should be beneficial to MTN and the wider sector, as it will drive innovation and collaboration, particularly, as MTN opens its infrastructure as a service to its competitors.
“Even your declaration as SMP can and should provide other opportunities for you to grow, we have mandated shared infrastructure and you have indicated your willingness in providing your platform as a service to your competitors and collaborators in the sector. I thank you for seeing these policy interventions as yet another opportunity for you to be innovative,” she said.
