Afribank Packages Solutions for Telcos

  Afribank Nigeria Plc has packaged customized solutions for telecommunications dealers which will enable them grow their business and expand their capacity.
The bank has also set aside huge funds to service the dealers with a view to enabling them optimize the market potentials.
At a Customers Forum organized by Afribank for MTN Telecoms Dealers in Lagos last weekend, the bank stated that “it would support telecoms dealers across all the networks with capital and advisory services as well as providing customized needs of the dealers”.
Mr. Olajuwon Olaleye, Group Head, Commercial Banking said at the forum that: “the bank aims to support other areas of the telecoms business through sinking funds which could be used to buy tangible assets. This will in turn boost production; improve profitability and cash flow management.”
Afribank is one of the few banks that pooled funds together for the MTN Nigeria in May this year, thus making it two months since it joined the league of big lenders to MTN Nigeria.
Mr. Olajuwon explained that in order to encourage dealers to do multiple volumes of business “Afribank is offering minimal cash on turn over (cot) to dealers that will do huge volumes of business with it”.
He reiterated that e-Solutions and IT department of the bank are equipped to “generate process transformation which will in turn benefit the telecoms industry”.
The business initiative now aligns the bank’s business to its strategic objective which aims to deepen its engagement in the critical sectors such as telecoms.