Telecom
Aig-Imoukhuede Claims Access Bank Designed MTN‘s Winning Business Model
Aigboje Aig-Imoukhuede, former group managing director of Access Bank and founder of Africa Initiative for Governance (AIG), has revealed how the lender created a winning business model for MTN in Nigeria.
Aigboje Aig-Imoukhuede, former group managing director of Access Bank
He was speaking during a virtual interview with African Banker magazine, the veteran banker explained that it was challenging to convince MTN to work with Access Bank.
In February 2001, MTN Nigeria won 1 of 3 new licenses awarded through an open auction process as part of the liberalisation of the telecommunications sector.
According to Aig-Imoukhuede, through the use of a “value-chain model” and indepth understanding of the telco’s businesses, Access Bank was able to come up with strategies which helped MTN to navigate the Nigerian market.
“We deconstructed the entire value chain of MTN. In doing so, we came up with two issues for MTN. One, they needed a distributor model that would work for Nigeria. The traditional models that they knew in other African countries did not lend itself easily to Nigeria. We didn’t have malls, a retail footprint as you would have in other markets, as well as digital technology that would allow for airtime distribution,” he said, at the event attended by TheCable.
“You needed a physical distribution system that worked. So, we partnered with them to create, identify and train distributors. We came up with a dynamic distributor financing package.
“Another issue was their infrastructure. There are two things that make a good telco. One was their ability to distribute their airtime but the quality of the airtime is also fundamentally important.
“Rolling out a national telco infrastructure in Nigeria is not an easy thing to do. The geology and geography of Nigeria can be very challenging. We identified local construction companies who could go out there and do this rollout but they didn’t have capital.
“We came up with a concept called a cell site in a warehouse. We had these giant warehouses and a supply chain management system where we import the components of a cell site such as generators, steel and we would release them to local contracting companies at about five cell sites at a time. So, the risk was limited. Even though there was enough in terms of thousands of cell sites in a warehouse, the risk of failure was managed by us.
“Importantly, we didn’t just limit ourselves to the domain of finance. We found ourselves doing things as McKinsey or a consultant company would do. It turned out to be a winning model. We rolled it out not just for MTN but across corporate Nigeria.”
Responding to a question on what he would do differently if he could go back to the drawing board, he said he would acquire more shares in Access Bank.
Aig-Imoukhuede also emphasised the importance of partnerships in businesses, adding that the mutual belief he and Herbert Wigwe, his business partner, had in each other, drove the success of Access Bank.
In his new book titled ‘Leaving the Tarmac: Buying a Bank in Africa’, he recounts the events leading to the acquisition of Access Bank in 2002 and growing it with Wigwe, present chief executive officer (CEO), into Nigeria’s biggest bank by customer base and Africa’s banking powerhouse.
Telecom
Celebrating African Creativity: Made by Africa, Loved by the World’ Returns for Its Fifth Year
The “Made by Africa, Loved by the World” campaign is back for its fifth year, celebrating African creativity and global influence. This year’s theme, “Where Culture Meets Connection,” highlights how social media fosters conversations around cultural moments worldwide.
The campaign features three cinematic films premiering on the Meta Africa page, showcasing the groundbreaking work and personal stories of six dynamic African creatives.
These artists, from Nigeria, Kenya, Ghana, and South Africa, represent diverse disciplines, including rap, animation, dance, photography, fashion, and videography.
Here are some of the featured talents:
- Ladipoe (Nigeria) – A BET-nominated rapper known for blending global hip-hop with African rhythms.
- Fatboy Animations (Kenya) – An animation studio founded by Michael Muthiga, recognized by Forbes for its original African storytelling.
- Lisa Quama (Ghana) – A dancer who gained fame after appearing in Beyoncé’s “Already” music video.
- Gilbert Asante (Ghana) – A photographer and creative director featured in GQ and Glam Africa.
- David Tlale (South Africa) – A fashion designer whose bold designs have been showcased at major fashion events, including the Met Gala.
- Ofentse Mwase (South Africa) – A filmmaker with over 24 international awards for his unique visual storytelling.
Kezia Anim-Addo, Communications Director for Africa, Middle East & Turkey, emphasized that the campaign not only celebrates individual success stories but also showcases how culture and social media drive meaningful connections and inspiration.
Association of Telecommunications Companies of Nigeria (ATCON), has raised the alarm over a diesel supply crisis caused by an ongoing strike by the National Union of Petroleum and Natural Gas Workers (NUPENG).
Mr Tony Emoekpere, president, ATCON in a statement said that the fuel supply disruption is critically affecting telecom base stations, pushing them to the brink of a shutdown and threatening millions of mobile and internet users in the region.
“This strike, which stems from the persistent harassment of tanker and petroleum product drivers by police officers in Lagos State, has effectively halted all truck loading operations and fuel movements,” Emoekpere stated.
He explained that diesel supply to telecom infrastructure has been severely impacted, leaving critical sites with dangerously low fuel levels.
According to him, if urgent measures are not taken, the situation could escalate into a full-blown network blackout, disrupting essential services, including mobile and internet access, business operations, emergency response systems, and daily communications.
ATCON has called on the governors of Lagos and Ogun states to intervene immediately by facilitating the release of diesel from depots to telecom operators to prevent further deterioration of the situation.
“This is not just a telecom issue—it is a national emergency that could cripple economic activities and compromise public safety,” Emoekpere stressed.
The association also appealed to security agencies and petroleum unions to resolve the crisis swiftly to safeguard Nigeria’s connectivity and economic stability.
ATCON emphasised that a prolonged disruption in fuel supply to telecom infrastructure could have far-reaching consequences for both businesses and individuals who rely on stable communication networks for daily operations.
In 2023, Nigerians spent a total of about ₦5.3 trillion on telecommunications services, which includes calls, data, SMS, and other telecom services, according to the Leadership.
Specifically for voice calls, Nigerians made approximately 408.5 billion minutes of local calls, generating around ₦3.28 trillion from outgoing calls and ₦3.23 trillion from incoming calls, totaling about ₦6.51 trillion in call-related revenue according to projections based on 2023 call volumes and tariff data.
However, the ₦5.3 trillion figure represents the overall telecom sector revenue, with voice calls being a major component but also including data and other services.
For individual spending, MTN subscribers spent an average of ₦2,508 monthly on voice calls in 2023, showing a 14.4% increase from 2022, while Airtel customers spent about ₦1,694 monthly on voice calls.
Total telecom spending (calls, data, SMS, etc.): ₦5.3 trillion in 2023
Estimated revenue from voice calls alone: around ₦6.5 trillion based on call minutes and tariffs
Average monthly spending on calls per subscriber: ₦1,694 to ₦2,508 depending on the network
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