MTN launches cloud services

MOBILE Telecommunications Company, MTN Ghana, has launched cloud services to help small and medium enterprises (SMEs) to cut down on the cost of information technology (IT) software and hardware.

MTN is the first mobile network operator in Africa to launch the cloud service brokerage model which is expected to improve productivity and efficiency of businesses.

Cloud computing is one of the new innovations in the IT world and it involves the delivery of hosted services over the Internet, enabling users to access services anywhere and at any time.

The service centralises remote access to data and applications where a third party, in this case, MTN, acts as the single point of contact for customers.

This allows companies to focus on their core businesses instead of concentrating on infrastructure costs.

It also allows businesses to come out with information processing requirements of the average organisation in terms of secure data management, fire wall protection and some application to remove the infrastructure that allows functioning just as the user.

In effect, it is the delivery of hosted service over the Internet or any secured virtual private network (VPN).

The Chief Executive of the MTN Ghana, Mr Michael Ikpoki, said at the launch in Accra that the introduction of the cloud services marked an important milestone in the life of MTN Business, a division in the company.

The MTN Business was launched in 2011 to provide information, communication and technology (ICT) solutions for SMEs and other corporate institutions in the country.

Mr Ikpoki said out of six markets – Cameroon, Nigeria, Uganda, Cote d’Ivoire and South Africa – selected by the MTN Group, Ghana was the first country to launch the service in West Africa.

“Cloud services constitute a recent innovation in the IT space and we are very proud to be leading in this market. With the rapid development in ICT and telecoms sector, driven by strong desire to provide customer experience, there is expectation that technology can do more for SMEs,” Mr Ikpoki said at the event.

He thus called on SMEs and large corporate organisations to invest in new technologies and new solutions to drive growth in their respective businesses.

The Head of Business Solutions at MTN Ghana, Mr Eric Nsarkoh, said the idea of the MTN Cloud was to manage stress aspect of organisations.

“In terms of its uniqueness, there is a lot of flexibility because all you are required to do is to register and you have access. It is as easy as setting up an email address,” he said.

New credit bureau launched

DUN and Bradstreet Credit Bureau Limited, an organisation that will provide comprehensive consumer credit information to customers in the country, has been launched in Accra.

The bureau receives information and processes them for lending and credit institutions to build borrowers’ credit profile and repayment records.

This form of reputational collateral has proven to be as reliable as the usual physical collateral demanded by lenders in support of credit.

Dun and Bradstreet was incorporated in Ghana in June 2008 and awarded a provisional Credit Bureau License from the Bank of Ghana in October 2010. After fulfilling the requirements of a provisional license, it received its final license in February, 2012.

The launch, which makes Dun and Bradstreet the third credit bureau in the country, is expected to increase competition within the Ghanaian credit market by providing credit providers with greater bureau choice and improved transparency for businesses and consumers.

Again, it is expected that as the availability of credit increases, businesses and consumers will enjoy more credit.

The government passed the Credit Reporting Act, 2007 (Act 726) not only to provide the necessary legal and regulatory mechanism for the licensing and operation of credit bureau, but also to protect the public against fraud.

The Minister of Finance and Economic Planning, Mr Seth Tepker, in an address read on his behalf said the services of credit bureau therefore facilitate screening of applicants for credit, leading to cost reduction for the provider and enhances lender’s ability to predict default.

“Rapid growth has direct correlation with an increased risk of low repayment. Credit bureau provides the best mechanism to improving the rate of default and mitigating the threat to the financial system.”

‘Also the demand for consumer credit will increase lending to general increase in demand for goods and services thereby increasing growth in the economy,” he said.

He emphasised the need to promote convergence, integration and development of the entire financial service sector in order to exploit the full potential for effective financial intermediation and sustained growth.

He also announced that the government had developed the second phase of the Financial Sector Strategic Plan (FinSSP 1) that focused on strengthening all sub-sectors of the financial sector, including banking, securities, insurance, pensions and non-bank financial institutions, with implementation planned for next year.

Touted as a global leader in business information reports, the Managing Director of Dun and Bradstreet, Mr Evans Sarpong, said it would from its portfolio of global products and services offer a range of tools to help lenders manage their clients through the entire life cycle and better understand risks involved.

This, he said, included instant notification when changes occurred within a customer portfolio and tools needed to improve the quality of customer data.

“In order to provide responsible access to credit for businesses and consumers, it is important for banks and other credit providers to have access to globally proven alternatives to determine the credit worthiness of potential borrowers,” he said.

The Chief Executive Officer of Dun and Bradstreet, Mr Miguel Llenas, said the experience of credit bureaus in other countries showed that over time, borrowers stood to benefit from faster credit applications processing, faster disbursement of loans, fairer assessment and better adjusted quantum.

He said the organisation’s experience with government and private credit bureaus across the world had facilitated it in building the robust bureau for Ghana.