Strengths:
One of the largest telecommunications companies in Nigeria with strong brand recognition.
A wide range of subscribers across the country – over 60 million strong base.
Proven track record of launching successful products and services with great customer experience
Excellent customer support and well-trained staff
A well-established network infrastructure and a strong foothold in the Nigerian market.
Weaknesses:
New to the Fintech space in Nigeria and lack of knowledge and understanding of the competitive landscape.
Little or no financial services background and limited resources to enter the Fintech business in Nigeria.
Unfamiliarity with local regulations and compliance requirements when dealing with financial transactions
The large size of the company may limit agility when responding to changing customer needs.
Opportunities:
Leverage on existing brand recognition to quickly gain a foothold in the Fintech space in Nigeria
High need for digital financial services and a growing number of users for these services
Growth in the mobile payments space with new products and services being released regularly
Expand their product offering and reach a larger customer base by leveraging their existing relationships with financial institutions
Threats:
Strong competition from established Fintech players such as Pagatech, Remita, eTranzact, Flutterwave etc.
Potential risk of cybercrime due to increased digital financial transactions
Changing regulations and compliance requirements that may require additional resources to continue operations