Network Provider Tasks MTN, SMEs On  Data Usage

Chief Executive Officer, Mobile Telecommunication Network (MTN) Nigeria,  Mr. Olutojun Toriola, has urged Small and Medium Enterprises (SMEs)  to use the data presented to them through telecommunication companies and financial systems to access capital.
Toriola gave the advice at the Sparkle’s webinar for SMEs with the theme:  ’’Simplifying Support for Small Businesses’’, in Abuja recently.
He said that  data was abundant in both the telecommunications and financial system.
“The person to make magic out of this is the person that can turn data into wisdom because the data is out there and not many people have successfully been able to transform and beneficially structure this data”, he said.
According to him, if data was  converted  into wisdom, a magic formula can be created that can transform the SME world and fix the problem about access to capital.
‘’Africa is no different, according to the World Bank, they provide for more than half of all jobs and account for more than a third of the combined GDP of emerging market economies.Getting access to credit, however, is an uphill task for most of these SMEs,’’ he said.
The MTN officer noted  that it has been established that lack of access to finance was  the most significant constraint on the growth of small enterprises.
He said that in developing economies, the estimated annual credit gap could be as much as $5.2 trillion dollars, noting that his company is  committed to enabling the growth of small businesses by offering solutions to improve organisational effectiveness and productivity.
Toriola also said MTN Nigeria provided access to knowledge and information through easily affordable, sometimes free tools and learning programmes through SMS automated port training programmes.
“In addition,  we also try to provide access to infrastructure with specifically designed packages for SMEs, such as cost-effective voice and data solutions as well as collaborations with global ICT partners”, he said.
The  Tide’s Source reveals  that those at the webinar  include  CEO, Flour Mills of Nigeria Group, Boye Olusanya; and CEO, Access Bank Plc, Herbert Wigwe.