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Yabx Enters Mexico to Expand Latin American Market Share

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Yabx

A fintech venture in digital lending, Yabx, has entered Mexico as part of its expansion strategy in the Latin America region. Also, the company announced the appointment of Javier Chavez-Ruiz as Business Sales Associate for the region.

Incubated by Comviva Technologies, a global leader in mobile financial services, Yabx is a part of the $21 billion Mahindra Group. It aims at simplifying financial access to new-to-credit customers and MSMEs in the Latin America region by providing financial access to the under-served.

It leverages technology and analytics to reduce the cost of delivering financial services, thereby bringing banking services to the underserved.

The company plans strategic partnerships with leading banks, microfinance institutions, e-commerce players, payment gateways, credit bureaus, mobile financial services providers, mobile network operators and handset manufacturers in the region.

By moving into Mexico, Yabx will be able to capitalize on the booming digital payments and e-commerce market. Mexico’s digitization efforts have been bolstered by the adoption of digital payments amid the coronavirus pandemic.

It is estimated that 18 million people will use the new scheme of Digital Collection (Codi) by the Bank of Mexico because the pandemic will change consumption habits among consumers.

Javier brings with him over 30 years of relevant experience across multiple industries, including Financial Services, Retail, Travel and Consumer Goods. Over the last few years, he has been responsible for building the digital transformation and innovation area of Banco Santander Mexico, as head of Innovation.

More recently, he co-led the Open Banking initiative by the National Banking and Securities Comision (CNBV) representing DAI, a consulting company to develop Mexican Open Banking Standards. Previously in his career, he led Yellowpepper, a mobile payments company as CEO for Mexico, setting up its operations in Latin America.

Speaking on the expansion plans, Rajat Dayal, Founder & Chief Executive Officer at Yabx said, “Our foray into Mexican market is part of our ongoing strategy to provide innovative products to customers and MSMEs across the region.

“By strengthening our presence and capabilities in Mexico we will be able to serve our customers better while responding faster to the market opportunities. We are happy to appoint Javier as Business Sales Associate for the region. His extensive knowledge and experience in the financial services domain will help us grow our business in Mexico.”

Speaking on the occasion, Javier Chavez-Ruiz said, “I am excited to be associated with a brand like Yabx, which promises to simplify financial access to unbanked customers through digital lending offerings. With its growing footprint in the region, we will continue to help regional banks, microfinance institutions, credit bureaus, mobile financial services providers, mobile network operators and handset manufacturers to achieve bottom-line benefits, with solutions that drive operational efficiencies and optimize existing investment.”

The company plans to expand its market share in the digital lending space in Latin America. Recently, the company had joined hands with Movii, a leading mobile wallet and a challenger bank in Colombia to provide credit services for MSMEs.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Airtel Africa Intensifies Awareness on Better Data Usage

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Simi, Diamond, Fally Better Data Usage

By Modupe Gbadeyanka

A significant step has been taken by a leading provider of telecommunications and mobile money services, Airtel Africa Plc, to engage customers on how to enhance their digital experience by making the most of their data bundles.

The telco intends to allow customers to make informed decisions about their data usage habits, and to achieve this, it has engaged the services of three top artists on the continent to promote better data usage.

The artists are Simi from Nigeria, Fally Ipupa from the Democratic Republic of Congo, and Diamond Platnumz from Tanzania,

They have collaborated with the company to create a special song to provide customers with practical tips and tools that will help them to maximise their data for everyday use, from browsing the internet to streaming and accessing essential apps.

The partnership is part of the ongoing #SmartaWithData campaign that promotes education on better data usage and management.

It aims to rally Airtel Africa’s customers to GET smarter data settings, SET smarter data speeds, and GO #SmartaWithData for a more rewarding digital experience.

The edutainment campaign is currently active on the Airtel network in Kenya, Nigeria, Uganda, Tanzania, the Democratic Republic of Congo (DRC), Zambia, and Malawi to its young customers aged 18-35 years.

The #SmartaWithData campaign by Airtel Africa offers tips to help customers make smarter use of their data, while also encouraging them to join in and share their tips.

Customers can access all data bundles easily via USSD, Airtel Lite or the MyAirtel App.

“Our goal with this campaign is to ensure that our customers get the most out of Airtel data bundles, thereby enhancing their online experience. In collaborating with these artists, who our customers love and engage with on a daily basis, ensures that they are aware of these data hacks, and they can seamlessly adopt usage and management of their data through clear messages that resonate with them.

“At Airtel Africa, our priority is to create exceptional customer experiences with our products and services. We hope that through this edutainment campaign, delivered through authentic internationally acclaimed African artists, our customers will be empowered and have rewarding online experiences, whether for business or leisure,” the Chief Marketing and Sales Officer at Airtel Africa, Rohit Marwha, said.

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NCC Renews MTN Nigeria’s 800MHz Spectrum Band Licences

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MTN Nigeria commercial paper sales

By Adedapo Adesanya

The Nigerian Communications Commission (NCC) has renewed and extended the validity of the 800MHz spectrum band licences given to MTN Nigeria Plc to boost its mobile broadband and voice communication service offerings.

The 800 MHz band is ideal for 4G LTE (Long-Term Evolution) networks, delivering high-speed internet services as its low-frequency range allows signals to travel long distances and penetrate buildings better, ensuring wider coverage, especially in rural or hard-to-reach areas in the country.

The first 800MHz spectrum licence (Channel 1) has been renewed for 10 years, effective from January 1, 2025, to December 31, 2034.

The second 800MHz spectrum licence (Channel 2), initially set to expire on December 31, 2030, has been extended by four years, bringing its new expiration date with Channel 1 to December 31, 2034.

This harmonisation of licence tenures ensures that both spectrum licences will now expire concurrently, streamlining future renewals and enhancing operational efficiency.

Commenting on the transactions, MTN Nigeria CEO, Mr Karl Toriola said: “We are pleased with the successful renewal and harmonisation of our 800MHz spectrum licences, which lay a solid foundation for the ongoing delivery of 4G services to our customers.

“This enables us to continue to meet the demand for data and is integral to our broader strategy for enhancing connectivity.”

MTN has the largest market share in the Nigerian telecommunications sector in terms of customer base.

The development comes amid the industry regulator’s approval of the 50 per cent tariff increase for telecom operators in the country, the first since 2013.

The 50 per cent call was lower than the 100 per cent recommended by operators and service providers in the telco industry.

Mr Toriola, who was one of the most vocal proponents for the hike, warned that the review was necessary to sustain the sector and contribute more to economic development.

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Telco Subscribers Propose 10% Tariff Hike, Reject NCC’s 50% Approval

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Telco Operators

By Adedapo Adesanya

The National Association of Telecommunications Subscribers (NATCOMS) wants a maximum of 10 per cent increase in tariffs as against the 50 per cent announced by the Nigerian Communications Commission (NCC).

Recall that the leadership of the body in an interview on Tuesday said it would challenge the federal government’s decision to allow operators increase tariff by 50 per cent in a court of law.

In another round of interview with the News Agency of Nigeria (NAN) in Lagos, the President of NATCOMS, Mr Deolu Ogunbanjo, said the group understood the dilemma faced by the telecommunications industry and had suggested a 5 – 10 per cent marginal increase in tariff.

He said that the approval by the federal government for the telcos to raise tariffs at a maximum of 50 per cent was unacceptable, arguing that it will “affect everyone from the biggest industry to the smallest company, such as the Point of Service (POS) operators.”

“It will increase operational costs,” he added.

According to Mr Ogunbanjo, experts had x-rayed the telecoms sector and said it was in intensive care, meaning it needed to be attended to.

“We now depend on telecoms for our meetings, for the banks, everybody depends on it even the education sector, yes, a lot of things depend on it.

“So, that is why we painfully agreed that, look, a moderate or marginal five per cent to 10 per cent increase will be fine.

”You know, we do not mind an increase if it is to salvage the industry that is helping us, that means so much to us and that is also contributing double-digit to Nigeria’s Gross Domestic Product.

“So, we appreciate that. It’s painful, but we granted. We said, okay, we will not mind if it is just five per cent to 10 per cent increase,’’ he said.

The NATCOMS boss stressed that, if the operators really needed funds, they should explore the Nigerian Exchange (NGX) Limited.

“The industry operators can opt for an Initial Public Offer (IPO) for Nigerians to buy shares in their companies as a way of raising funds.

“However, a situation where a whole 50 per cent is granted for tariff hike is not cheap and it is a no! no! from us subscribers.”

He reiterated that the body will take the case to the court.

“I mean, for what we are already going through, no for us, we will challenge this in court,’’ Mr Ogunbanjo insisted.

The NCC announcing the hike on Monday said the increase was pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and approve tariff rates and charges by telecommunications operators.

“…Over 100% requested by some network operators, was arrived at taking into account ongoing industry reforms that will positively influence sustainability.

“These adjustments will remain within the tariff bands stipulated in the 2013 NCC Cost Study, and requests will be reviewed on a case-by-case basis as is the Commission’s standard practice for tariff reviews. It will be implemented in strict adherence to the recently issued NCC Guidance on Tariff Simplification, 2024,” the announcement statement noted.

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