ENITAN KUTON is head of Marketing and Communications for Creditswitch, a firm committed to providing the best of Value Added Services (VAS) Aggregator services in the Telecom and IT industry space in Nigeria. KUTON in this interview shares the Company’s innovation strategies, operating environment and how it has sustained its growth plans amid the Covid-19 pandemic.
Please give us an insight into what you do at Creditswitch Ltd. Creditswitch is one of Nigeria’s most innovative value-added service companies. We’ve helped reshape financial services delivery through technology and transaction simplification. Our business model, products, and solutions which include Airtime, data top-up, SMS, cable TV recharge, utility bill payments, USSD development, shared short codes and shortcode integration enables us as one of the most preferred VAS (Value added service) provider for various businesses within the country.
Furthermore, Creditswitch is committed to employee wellness, talent development, inclusive culture, and gender-balanced, with women accounting for 60 percent of the management team.
What would you say are your biggest constraints in delivering services to customers? We are not immune to the growing uncertainties and fears for the survival of Nigerian businesses like any other industry and the many challenges it faces such as government policies, epileptic power supply, inaccessibility, and foreign exchange volatility. For instance, inadequate power supply has led to an overdependence on diesel. As you are aware, there has been a recurrent increase in the price of diesel, this has led to a surge in our operating expenses.
Dangerously, the national currency has been in a downward spiral, falling to a new low of N700 to US$1 in the parallel market last week, heightening fears of a further devaluation by the Central Bank of Nigeria. This makes it even more challenging for companies like ours to source foreign exchange for procuring business needs.