Interswitch, a leading payment firm, has made a significant move by acquiring a Tier 5 Mobile Virtual Network Operator (MVNO) license from the Nigeria Communications Commission (NCC) for a reported sum of N500 million.
This strategic step marks the company’s entry into Nigeria’s telecommunications sector.
The acquisition of the MVNO license positions Interswitch to offer cost-effective 4G or 5G services, particularly targeting underserved regions across the country.
MVNOs, such as Interswitch, operate by reselling mobile network services procured at wholesale rates from established telecommunications giants like 9mobile, Airtel, MTN, and Glo.
This venture is in line with the NCC’s overarching objective of narrowing the gap between unserved and underserved areas and populations within Nigeria.
By leveraging this license, Interswitch aims to amalgamate payment and telecommunications services, catering to both B2B customers and consumers.
This strategic move underscores Interswitch’s commitment to expanding its footprint in the Nigerian market while simultaneously addressing the pressing needs for affordable and accessible telecommunications services in underserved communities.
