Brands/Products
Buy Now Pay Later Isn’t Just About Increasing Retail Sales, it’s Also a Form of Financial Inclusion
By Eric Muli
It’s no secret that there’s still a long way to go when it comes to achieving true financial inclusion in Africa. As recently as 2021, 45% of people in sub-Saharan Africa didn’t have access to a formal bank account.
That doesn’t just make it difficult for them to save effectively, but also to access formal lines of credit.
The thing is, when most people talk about financial exclusion and the proposed solutions to it, they tend to focus on the “big” economic movers that come with financial inclusion.
A lot of attention, for example, is given to affordable home and vehicle financing and business and education loans. That’s understandable too: those are all vital tools in helping people advance economically.
But financial inclusion can’t be limited to those big-ticket items. It must also cover many of the day-to-day purchases that people in other markets take for granted. We cannot, after all, talk about real financial inclusion if someone can access a business loan but still has to approach informal lenders to pay for their child’s school uniforms and stationery.
It’s why the rise of “buy now, pay later” (BNPL) services in Africa is so important. These services allow people to purchase items and choose to pay for them over a specified period, typically in instalments with low interest rates.
Unlike lay-by offerings, people are allowed to take possession of their goods immediately. While these offerings are most visible online, they’re increasingly common in physical retail spaces too.
A personal journey
There are many examples of how BNPL can empower ordinary Africans by enhancing their purchasing power. Maybe it’s someone needing to buy a new suit for a job interview, a promising athlete needing a new pair of running spikes as they look to secure a university scholarship, or someone needing to buy a laptop to start their side hustle.
Sometimes (as I discovered myself when I returned to Kenya in 2017 after studying in the USA), it’s just about staying connected. As I trawled the malls of Nairobi looking to buy a phone (something few of us can live without), I realised that very few stores had the option to pay off a device in instalments. It came as a stark contrast to the US, where instalment plans are available almost everywhere.
But it was also a lightbulb moment that inspired the founding of Lipa Later. I realised how effective BNPL could be in the Kenyan and broader African contexts, particularly if it was adapted to the way Africans shop.
That vision was further crystallised in the early days of the business when my co-founder Michael Maina spent hours walking around malls, speaking to shoppers. Many, he found out, wanted a specific phone that was just out of reach but which they could easily pay off over a few months.
BNPL for predominantly offline markets
While many of us are familiar with BNPL in e-commerce contexts, we knew that launching an e-commerce-only BNPL product would have limited efficacy in an African context. Even in a country as renowned for embracing technology as Kenya, online made up just 4% of all retail sales in 2021 (the most recent year for which I could find figures).
But getting physical retailers on board with the concept wasn’t always easy. In the early days especially, there were a lot more noes than yeses. Nonetheless, we persisted because we knew that, implemented correctly, the BNPL solution we were building could be a “lifeline for a lifetime” for both our retailer and consumer customers.
As a result, today, we have a BNPL offering that works as effectively in offline physical retail settings as it does online. And because we’ve taken an attitude that everything about Lipa Later, from the name (Lipa is Swahili for “pay”) to the technology, should be tailored for Africa, we’ve been able to expand beyond Kenya into Uganda and Rwanda.
We also welcome the growing competition in the African BNPL space, not only because it’s pushed us to keep improving our own offering (a partnership with Mastercard means that we’ll soon be rolling out the first buy now, pay later card in Africa, for example) but also because it’ll help advance financial inclusion across Africa.
An increasingly important financial inclusion tool
While BNPL can’t eliminate debt entirely, it can make a dent in it, and with nearly 60% of Kenyans living in debt and similarly high numbers across many countries on the continent, its role will only become increasingly important.
Without having to resort to expensive informal lenders, customers can save more of their money or use it on things that improve their lives, rather than simply servicing debt. As operators become mature and innovative (rewarding the best-paying customers with even lower interest rates, for example), its value will keep growing
But consumers aren’t the only ones who benefit from this expanded financial inclusion. Retailers also benefit from increased customer bases. Those increased sales, in turn, can lead to expansion and even contribute to national economic growth.
So, as important as more traditional forms of financial inclusion are, it’s important to remember that consumer spending power is a critical component of financial inclusion, too. Tailored effectively to African realities, there are few more powerful instruments for improving that spending power than BNPL.
Eric Muli is the Founder and CEO of Lipa Later
By Modupe Gbadeyanka
On Tuesday, April 14, 2026, customers of Airtel Nigeria felt more involved and loved when the telecommunications company gathered them together at the Lagos Travel Inn Hotel in Ikeja to discuss some of their concerns, especially around data usage, transparency and their experience with its services.
It was the first-ever Customer Forum of Airtel Nigeria in Lagos, where regulators, high-volume data subscribers, 5G customers, and other key stakeholders learned ways to tackle the issue of data depletion.
The event, themed Understanding Your Data: How to Take Control, also highlighted Airtel Nigeria’s ongoing investments in customer experience, including enhanced digital tools, clearer usage dashboards, and expanded retail and support networks aimed at improving transparency and accessibility.
“This is our very first customer forum, and it is more than an event. It is a bold statement that in today’s digital economy, the most important voice is the informed customer,” the Director of Marketing at Airtel Nigeria, Mr Ismail Adeshina, said.
He emphasised that while data has become central to everyday life, from business transactions to education and healthcare, concerns around data value and consumption remain valid and must be addressed transparently.
“Data is no longer a luxury; it is a necessity as essential as electricity and water. However, as usage grows, customers are asking an important question: “Am I truly getting value for the data I purchase? This is not just a technical issue; it is a matter of trust,” Mr Adeshina added.
He further explained that evolving usage patterns, including high-definition video streaming, cloud-based applications, and background app activity, have significantly increased data consumption compared to previous years. According to him, the forum was designed as both a listening platform and an educational session to help customers better understand how their data is used.
“We are here to listen, to explain clearly, and to provide evidence. When customers understand how their data is consumed, it shifts the experience from uncertainty to control and from frustration to confidence,” he further disclosed.
On her part, the Director of Customer Affairs Bureau at the Nigerian Communications Commission (NCC), Ms Freda Ruth Bruce-Bennett, reaffirmed the regulator’s commitment to protecting consumer interests and ensuring service quality across the industry, noting that data consumption has become deeply integrated into daily life, making any perceived loss of data a significant concern for users.
“We understand that data is central to how people live and work today, which is why concerns around data depletion are taken seriously. The NCC has put mechanisms in place to ensure that consumers receive the quality of service they deserve and that their voices are heard,” she said.
Ms Bruce-Bennett encouraged customers to take advantage of the NCC’s consumer portal, which provides guidance on data management and a platform for lodging complaints.
“There is an A to Z of data management tips available on the NCC portal, and we encourage consumers to use it. We also continue to work closely with operators like Airtel to ensure that complaints are addressed promptly and transparently,” she added.
On customer engagement and service delivery, the Customer Experience Director at Airtel Nigeria, Mr Oladokun Oye, highlighted the company’s multi-channel approach to supporting customers across the country.
“At Airtel Nigeria, customer experience is not just a function; it is embedded across everything we do. From our network design to how we communicate and resolve issues, the customer remains at the centre,” he said.
He noted that Airtel maintains one of the most extensive customer touchpoint networks in Nigeria, including over 1,000 exclusive shops, a dedicated contact centre accessible via 300, and multiple digital platforms such as the MyAirtel App, web channels, and AI-powered chatbots.
“These channels are designed to provide not just service, but clarity and understanding. We are also continuously improving our digital platforms to ensure customers can track and manage their usage in real time,” Oye added.
He further advised customers to engage only with authorised Airtel outlets to ensure service quality and protect personal information.
The Airtel Customer Forum forms part of a broader industry effort, in collaboration with the NCC, to promote data awareness, transparency in billing, and improved customer education.
By creating a platform for open dialogue, Airtel Nigeria is reinforcing its shift from a transactional relationship with customers to a more collaborative and informed partnership.
The company noted that insights from the forum will inform future improvements in service delivery, customer communication, and digital tools, as it continues to support Nigeria’s journey towards a more inclusive and transparent digital economy.
By Adedapo Adesanya
The National Agency for Food and Drug Administration and Control (NAFDAC) has alerted the public to the distribution of unregistered and suspected counterfeit Colgate toothpaste brand in Nigeria.
In a public notice shared on X (formerly Twitter), the agency said its Post-Marketing Surveillance Directorate received a complaint regarding the sale of the products in Kaduna State by a shop owner.
Following an investigation, officials of the food and drugs surveillance organisation visited the outlet and discovered two suspected counterfeit products branded as Coglaet ActivGel 100g and Coglaet Herbal 100g. The spellings were not only the indicator, but the production standards.
According to the agency, the shop owner disclosed that the items were sourced from a door-to-door sales representative but could not provide proof of purchase.
NAFDAC stated that the products failed to meet regulatory standards for registration and quality assurance, warning that they pose potential risks to public health and safety. It also added that the stated manufacturer could be traced to Baiyun District, Guangzhou, China.
The agency confirmed that the items have been removed from circulation, while efforts are ongoing to trace those responsible for their distribution.
NAFDAC urged consumers to remain vigilant and report any suspected sale of substandard or counterfeit regulated products to the nearest office, via its hotline or official email channels.
In a statement, NAFDAC said, “All NAFDAC zonal directors and state coordinators have been instructed to conduct surveillance and mop up the unregistered and counterfeited products if found within their zones and states.
“Distributors, retailers, and consumers are hereby advised to exercise caution and vigilance within the supply chain to avoid the distribution, sale, and use of counterfeit products. The products’ authenticity and physical condition should be carefully checked.”
Consumers are advised to report any suspicion of the sale of substandard, falsified, or counterfeit regulated products to the nearest NAFDAC office, call NAFDAC on 0800-162-3322, or via email: [email protected]. For complaints, the Reforms Unit can be reached: 09097630506, 09097630507, or email: [email protected]
By Modupe Gbadeyanka
Barely 24 hours after MTN Nigeria announced the suspension of its data and airtime lending services, another operator, Airtel Nigeria, has followed suit.
In a statement on Friday by its Director of Corporate Communications & CSR, Mr Femi Adeniran, Airtel Nigeria said it would not no longer offer the airtime and data credit services for now.
However, the company noted that customers will continue to enjoy uninterrupted access to airtime and data purchases through its existing channels.
The Federal Competition and Consumer Protection Commission (FCCPC) introduced new rules on lending services in the country, and in compliance with this, telecommunications companies had to suspend rendering the services.
The affected services allowed eligible prepaid customers to borrow airtime or data and repay on their next recharge.
The Director of Marketing at Airtel Nigeria, Mr Ismail Adeshina, in the statement, noted the suspension of the services was to “align our operations with evolving requirements.”
“Airtel Nigeria remains committed to the highest standards of compliance, transparency, and consumer protection, while continuing to innovate responsibly within Nigeria’s digital ecosystem,” he added.
The telco noted that the temporary suspension is not expected to have a material impact on its service standards across the country, promising to provide updates on the status of the service in due course.
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