Telecom
BUA Group, Others Race to Buy 9Mobile
BUA Group, Virgin Mobile from the United Kingdom and Vodacom of South Africa are some of the companies in the running to buy 9Mobile, formerly Etisalat Nigeria.
A few others have also signified interest to takeover 9Mobile which still enjoys large patronage and loyalty despite its crisis, according to Daily Post.
The number one item on negotiations with investors is the offset its $1.2 billion bank loan.
BUA, Virgin and Vodacom are set to submit their memoranda of interest and technical presentations.
The banks have appointed advisers, which include Standard Bank of South Africa and Citibank of New York, to receive and evaluate bids.
According to Daily Post, every bid will then be reviewed before they are tendered to the board of new directors.
Trouble started when Etisalat Group disclosed on the Abu Dhabi Stock Exchange two weeks ago that it had pulled out of Etisalat Nigeria and was transferring 45 per cent of its stake and 25 per cent of its preference shares in its Nigerian subsidiary to United Capital Trustees Limited, the legal representative of the lending banks.
Aside Etisalat Group, other shareholders of Etisalat Nigeria include Mubadala Development Company with a 40 per cent stake and Emerging Markets Telecommunications Services (EMTS), representing the Nigerian shareholders, with 15 per cent.
Etisalat Nigeria had in 2013 approached a consortium of 13 local banks for a loan of $1.2 billion for network upgrade and expansion. The money was sourced in dollar and naira denominations.
However, citing the economic downturn of 2015-2016 and naira devaluation, which negatively impacted on the dollar-denominated component of the loan, Etisalat wrote its creditors informing them of its intention to halt the repayment of the loan in instalments, until such a time that it was able to raise more money.
The banks involved in the loan deal are: Zenith Bank, GTBank, FirstBank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank.
Zenith Bank has the highest exposure to Etisalat amounting to $262 million and N80 billion, GTBank has the second highest exposure of $138 million and N42 billion, Access Bank follows with $131 million and N40 billion.
Etisalat Nigeria also owes UBA $125 million and N38 billion; FirstBank – $79 million and N24 billion; Fidelity Bank – $56 million and N17 billion; Stanbic IBTC – $25 million and N7.5 billion; FCMB – $15 million and N4.5 billion; and Ecobank – $10 million and N3.1 billion.
But Etisalat Nigeria had countered this information, stating that it had paid $500 million up till February 2017. It said the outstanding loan to the lenders stands at $227 million and N113 billion, a total of about $574 million if the naira portion is converted to US dollars.
In their argument, bank officials insist they had financed the importation and purchase of the towers through Huawei of China to help build the infrastructure backbone for Etisalat and that when the company earned foreign currencies from the sale, it failed to repay its US dollar loans as was done by other telcos like MTN and Airtel.
Etisalat Nigeria, after its take over by banks, constituted a new board following gale of resignations.
Hakeem Bello-Osagie first resigned as Chairman.
A few days later, chief executive officer (CEO), Mr. Matthew Willsher, and chief financial officer (CFO), Mr. Wole Obasunloye, both stepped down.
In the new board is a deputy governor of the Central Bank of Nigeria (CBN) and chairman of African Finance Corporation (AFC) as its chairman.
Etisalat Nigeria on last Wednesday officially unveiled its new brand identity, 9mobile, with a new logo.
Boye Olusanya, chief executive officer of 9mobile, said the new logo was in conformity with the new name and reflects the bold and creative attributes which the company shared with its valued subscribers.
According to him, the rebranding will enable the company to connect more with its subscribers, especially the youth.
“In our nine years of operations, we have remained at the forefront of innovation and take pride in consistently delivering superior experiences to our subscribers.
“We continue to establish meaningful partnerships with our customers and partners by providing platforms that support their goals and aspirations”.
Olusanya said that the new name and brand were a deliberate representation and confirmation of its Nigerian heritage.
He added that that though the company’s name and brand changed, the values on which it operated remained the same.
“The colour green, both its light and dark variants, reflects vibrancy, dynamism, life and youth, as well as the brand’s ‘Nigerianness’.
“With the launch of our new brand, our commitment to providing our subscribers with best-in-class telecommunications services continues.
“We live in a digitalised world and 9mobile is positioned to deliver more platforms, products and services, using the power of technology.
“The vivacity of our new brand is an affirmation of our creativity and the recent launch of value adding services, such as our BlazeOn and Kwikcash platforms, are testaments to this”, Olusanya added.
Airtel Africa has grown its customer base by 9.0% to 169.4 million, with data customers increasing 17.4% to 75.6 million with focus on bridging the digital divide across her markets continues. According to the telecommunications operator’s financial results for the quarter ended June 30, 2025, which demonstrated strong growth across key metrics and a continued focus on expanding its services across its 14 African markets.
The operator reported a significant increase in revenue, reaching $1,415 million. This represents a 24.9% growth in constant currency and a 22.4% increase in reported currency, indicating a more stable macroeconomic environment in its operating regions and effective tariff adjustments, particularly in Nigeria.
The growth was broadly driven, with mobile services revenue increasing by 23.8% in constant currency. Data revenue showed exceptional performance, surging by 38.1%, while voice revenue grew by 13.9%. Mobile money services continued their strong upward trajectory, recording a 30.3% growth in constant currency. This was supported by accelerated growth in Francophone Africa (16.4% in constant currency) and continued strong performance in East Africa (20.3% in constant currency).
Airtel Africa’s profitability also saw a substantial uplift. EBITDA grew by 29.8% in reported currency to $679 million, with EBITDA margins expanding to 48.0% from 45.3% in the prior period. This margin expansion is attributed to sustained operating momentum, more stable fuel prices, and the ongoing benefits from cost efficiency programs.
Profit after tax saw a remarkable improvement, rising to $156 million compared to $31 million in the prior period. Basic Earnings Per Share (EPS) stood at 3.4 cents, a significant increase from 0.2 cents in the previous year, primarily reflecting higher operating profit in the current period and the absence of large derivative and foreign exchange losses that impacted the prior period.
Operational highlights further underscored the company’s growth. Airtel Africa’s total customer base expanded by 9.0% to 169.4 million. Data customers increased by 17.4% to 75.6 million, as the company intensified its efforts to bridge the digital divide. Mobile money customer base also grew by 16.1% to 45.8 million, with transaction value increasing by 28.7% in constant currency.
The company’s strategic focus on enhancing customer experience is supported by ongoing network investments. Over 2,300 new sites were rolled out, bringing the total to 37,579 sites, and the fiber network was expanded by 2,700 km, now exceeding 79,600 km. This investment has boosted data capacity across the region, with 4G population coverage reaching 74.7%, an increase of 3.4% year-on-year.
Airtel Africa continued its debt localization program, with almost 95% of its operating company debt (excluding lease liabilities) now in local currency, up from 86% a year ago, reducing foreign currency debt exposure. The company also confirmed it has returned $16.9 million to shareholders through its ongoing share buyback program as of June 30, 2025.
Sunil Taldar, chief executive officer, said: “We are very pleased with the strong growth in our operating and financial performance in the first quarter. The strength of this performance, and the scale of the growth we achieved, reflects the sustained demand for our services and the strength of our business model to meet these demands. Operationally, the acceleration in customer base growth to 9%, and 17.4% growth in our data customers to 75.6m reflects the strong on-ground execution with a relentless focus on digitisation and the simplification of the customer experience.”
Mr. Khalil Suleiman Halilu, executive vice chairman/ceo of the National Agency for Science and Engineering Infrastructure (NASENI), was honoured with the prestigious African Achievers Award at the 15th edition of the ceremony held at the historic House of Lords, UK Parliament, on July 11, 2025.
L-R: Founder, Startup Arewa, Mohammed Jega; Deputy Mayor of London for Environment and Energy Mete Coban; Executive Vice Chairman/CEO, National Agency for Science and Engineering Infrastructure (NASENI), Khalil Suleiman Halilu; and Special Adviser to the EVC on Commercialization, Engr. Anas Balarabe during the presentation of the prestigious African Achievers Award to Halilu at the House of Lords, UK Parliament recently.
The award, presented during an event that brought together royals, global leaders, policymakers, and innovators, recognized Mr. Halilu’s outstanding contributions to advancing Africa’s technological infrastructure, innovation ecosystems, and industrial growth through his leadership at NASENI.
Hosted by Baroness Sandip Verma, Chancellor of the University of Roehampton and a respected member of the House of Lords, the ceremony was a powerful global showcase of African excellence and transformative leadership. Mr. Halilu joined a distinguished group of honourees including public officials, business executives, and philanthropists shaping the future of the continent.
In his remarks, Mr. Halilu emphasized Africa’s readiness to lead in innovation, manufacturing, and sustainability.
“It is a great honour to receive this award alongside fellow visionaries committed to Africa’s future. At NASENI, we are bridging the gap between ambition and access, turning ideas into industries, empowering indigenous solutions, and driving forward Nigeria’s and Africa’s industrial transformation. Africa is not just rising, it is ready.”
Under his leadership, NASENI has been repositioned as Nigeria’s leading technology transfer agency, delivering on the Renewed Hope Agenda of President Bola Ahmed Tinubu by enabling local production in critical sectors such as clean energy, agriculture, transportation, and digital infrastructure.
Through strategic partnerships and an Accelerated Technology Transfer & Adaptation Strategy, NASENI is turning Nigeria into a hub for sustainable innovation and industrial self-reliance. Mr. Halilu extended appreciation to the organizers and supporters of the Awards:
“I thank the African Achievers Awards team, Baroness Sandip Verma, and all those across the continent and diaspora who continue to champion African solutions. This recognition is a motivation to do more and a reminder that the future we seek is one we must build ourselves.”
Now in its 15th year, the African Achievers Awards has become one of the most respected platforms spotlighting African leadership and excellence globally. This year’s edition included powerful messages from dignitaries such as King Misuzulu kaZwelithini, Queen Olori Atuwatse III, and Dr. Fatou Bensouda, reinforcing the urgency of building a united and future-facing African continent.
The award to Mr. Khalil Halilu reflects NASENI’s growing continental footprint and its mission to deliver homegrown technologies that respond to Africa’s real challenges, promote sustainable development, and accelerate industrialization across borders.
The 2025 edition of the Critical National Information Infrastructure (CNII) & Sustainability Conference has been rescheduled to hold on August 7, 2025, at CitiHeight Hotel, Ikeja, Lagos, following a shift from its earlier date of July 30.
The adjustment was made to accommodate a nationwide telecom stakeholders’ meeting convened by the Nigerian Communications Commission (NCC).
The CNII Conference, jointly organised by the Nigeria Information Technology Reporters Association (NITRA) and Association of Licensed Telecommunications Operators of Nigeria (ALTON), seeks to address the implementation and awareness gaps surrounding the CNII Order, signed into law by the Federal Government in August 2024.
The law designates telecom infrastructure as Critical National Information Infrastructure, positioning it as a strategic asset vital to Nigeria’s economic and security framework. Industry groups including the Association of Telecommunications Companies of Nigeria (ATCON) have thrown their weight behind the initiative.
Speaking on the new date, NITRA Chairman, Mr. Chike Onwuegbuchi, emphasised that the Act, though laudable, requires industry-wide collaboration and clear implementation strategy for tangible impact.
“The mere proclamation of CNII as an Act does not guarantee infrastructure safety. Stakeholders must address operational and standardisation gaps to make the law work,” he said.
ALTON Chairman, Engr. Gbenga Adebayo, also highlighted the need for regular maintenance and technology upgrades to curb vandalism and ensure infrastructure security.
Focus Areas of the Conference Include:
- Implementation mechanisms for the CNII Act.
- Stakeholders’ roles at federal, state, and industry levels.
- Security enforcement and public education.
- Infrastructure protection and sustainability.
- Collaboration and compliance across telecom companies.
Expected attendees include the Minister of Communications, Innovation and Digital Economy, regulators, service providers, security agencies, and key players in public and private sectors.
The event is themed “Industry Sustainability And CNII Conference 2025 – Way Forward”, with panel discussions aimed at creating a unified approach to safeguarding Nigeria’s telecom infrastructure under the CNII provisions.
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