A historic financial inclusion platform that helped NCDF deliver mobile-enabled access to farmers, empowerment scheme members and underserved communities.
Konto’s current transformation into a digital finance and financial inclusion platform is rooted in NCDF Group’s earlier execution experience through Microfone Telecom Nigeria Limited.
Microfone served as an early incubation platform for mobile-enabled financial access, community distribution and last-mile inclusion. Through this platform, NCDF supported practical initiatives that connected public-sector programmes, licensed mobile payment infrastructure and underserved communities.
One of the most important examples was the Federal Ministry of Agriculture fertiliser distribution initiative, where Microfone’s e-wallet approach supported the direct delivery of fertiliser to farmers. Management records indicate that more than 50,000 farmers received fertiliser directly through the initiative, reducing the role of intermediaries and demonstrating the potential of mobile-enabled access infrastructure in agriculture.
NCDF also entered into a mobile payment services MOU with Pridar Systems Limited in 2013. The arrangement was designed to support more efficient and accessible payments to NCDF empowerment scheme members through Firstmonie Services, with First Bank of Nigeria Plc recognised as the partner bank. The MOU included provisions for KYC, secure communication, business continuity, fraud reporting, confidentiality and regulatory compliance.
These early initiatives are part of NCDF Group’s realised track record because they demonstrate the Group’s ability to build and work through platforms that connect underserved communities to formal systems. They also provide an important historical foundation for Konto’s current direction.
Today, Konto is being repositioned as NCDF Group’s financial inclusion and digital finance platform, with a strategic focus on PSS licence application, microfinance bank acquisition, SME and merchant onboarding, agent network activation, cooperative finance, agro-producer access and app-based digital finance infrastructure.
Konto is not a new idea emerging without institutional memory. It is the next phase of a long-term NCDF inclusion strategy: from Microfone’s e-wallet and mobile payment partnerships to a scalable regulated financial ecosystem.
Microfone’s e-wallet-enabled fertiliser distribution initiative supported direct access to fertiliser for more than 50,000 farmers, based on management records.
The initiative connected NCDF’s financial inclusion execution platform with agricultural input distribution and rural productivity support.
NCDF’s 2013 MOU with Pridar Systems established a framework for using Firstmonie Services to support payments to empowerment scheme members.
These early programmes provide the institutional foundation for Konto’s current evolution into a digital finance and financial inclusion platform.
| Period | Milestone | Strategic Relevance |
|---|---|---|
| Microfone Era | Microfone Telecom Nigeria Limited established as an access platform | Built early foundation for mobile-enabled financial inclusion |
| Agriculture E-Wallet Initiative | Fertiliser distributed directly to over 50,000 farmers through Microfone-enabled e-wallet access | Demonstrated last-mile delivery, transparency and rural inclusion |
| 2013 | NCDF and Pridar Systems entered into mobile payment services MOU for Firstmonie Services | Established partner-led mobile payment framework with licensed infrastructure |
| 2023 | Microfone repositioned into Konto Financial Group | Shift from telecom-led access to fintech and financial services |
| Current Phase | Konto pursuing PSS licence, MFB acquisition and ₦1bn transformation raise | Building regulated financial inclusion and digital finance ecosystem |
