Telecom
Adrian Wood’s Teleology Buys 9mobile in $500m Deal
Teleology Holdings, a special purpose vehicle promoted by Adrian Wood, a former chief executive officer of MTN Nigeria, has been selected as the preferred bidder of 9mobile, according to New Telegraph.
Adrian Wood
Teleology, a private equity firm with an investment portfolio of $11bn, offered more than $500 million to acquire the mobile network while Smile offered about $300 million.
This development may have brought to an end the acquisition process supervised by Barclays Africa.
Smile Telecoms Holdings, a telco operating in Nigeria, Tanzania, Uganda, Congo DR and South Africa, is the reserve bidder.
It was, however, gathered both companies will be given 30 days to prove that they have the financial resources to take over the troubled telco, just as an official announcement is expected to be made, latest, next Monday.
While over 10 bidders had indicated interest in acquiring the mobile network, only five were shortlisted before the number was further reduced to three.
Globacom and Helios had failed to back their technical bids with concrete financial bids, while Airtel pulled out of the process last week, leaving just Teleology and Smile Communications in the acquisition quest.
Airtel pulled out completely, complaining about “too many hidden things” in the health of the company.
Analysts project that if either Globacom or Airtel had taken over the company formerly known as Etisalat, they would have overtaken MTN as the biggest operator in Nigeria by a number of subscribers.
MTN currently has about 52 million active subscribers while Globacom and Airtel have 37 million and 36 million respective.
9mobile, formerly known as Etisalat, has over 17 million subscribers, which if added to either of Globacom’s or Airtel’s, would have been higher than what MTN currently has.
Wood was a CEO of MTN Nigeria around 2002 was credited with building a very good business model.
The Australian has remained in the Nigerian business environment since November 2004 when he left MTN.
In July 2017, 9mobile was taken over by banks following a N541 billion debt overhang.
Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator as a result of the debt owed to a consortium of 13 banks.
The telco was then put on sale, with Barclays Africa acting as transaction advisers.
The telecom regulator, Nigerian Communications Commission (NCC), is expected to have the final say after decision of the interim board — because of licensing laws.
The NCC on January 11 had said “Barclays is expected to review the bids received by the deadline and to make recommendations to the 9Mobile Interim Board thereafter.”
After these processes, the interim board of 9mobile will then notify CBN and NCC of the winning bid.
“The NCC and CBN will be duly notified once the 9Mobile Interim Board accepts Barclays’ recommendations and a winning bid is determined in accordance with the terms of the exercise.
“The winner will now apply to NCC in order to commence the processes for securing the regulatory approvals from the Board of the NCC necessary to give full effect to the transfer.”
Meanwhile, the ongoing sale of 9mobile has continued despite a Friday, January 12, 2018, court ruling expected to have put the ongoing sale process in shambles.
In the judgment, Justice Ibrahim Buba of a Federal High Court in Lagos nullified the appointment of an interim board for Emerging Markets Telecommunications Service (EMTS), owners of 9mobile, the country’s fourth-largest telecommunications service operator in Nigeria.
The judge gave the verdict in a ruling on an application by a firm, Spectrum Wireless Communication Ltd, which claimed it invested $35 million in EMTS/Etisalat in 2009.
United Capital, which is the umbrella body of all the 13 banks being owed $1.2 billion by 9mobile, had since appealed the court’s verdict.
Telecom
Airtel Nigeria Reinforces Commitment to Youth Empowerment Hosts UNICEF GenU 9JA Steering Committee Meeting
Airtel Nigeria hosted the 2024 UNICEF Generation Unlimited (GenU) Steering Committee meeting at the Airtel Nigeria headquarters in Banana Island, Lagos, yesterday.
The breakfast meeting served as a collaborative forum, bringing together stakeholders from government, the private sector, and civil society to review GenU 9JA’s progress in providing Nigerian youth with digital learning, upskilling, and pathways to meaningful employment.
In his opening remarks, Chief Executive Officer at Airtel Nigeria, Carl Cruz expressed Airtel’s dedication to supporting the youth. “It is a privilege for Airtel to host this significant meeting and reaffirm our commitment to an initiative that holds the power to transform the lives of millions of young Nigerians.
“By equipping our youth with essential skills and resources, we not only support their individual success but also contribute to Nigeria’s social and economic growth,” he said.
Mr. Cruz further highlighted Airtel’s leadership in providing connectivity for digital learning, noting, “With the support of our UNICEF partners, we have connected 1,260 schools across Nigeria to digital learning, enabling 600 children to access educational platforms like the Nigeria Learning Passport and Yoma Africa.
“This connectivity is not just about internet access; it is about creating an equal playing field for young people, giving them access to quality education and skills essential for their future.”
The event saw participation from a host of other GenU 9JA partners, including IHS Towers, ATC, Unilever, Jobberman, Microsoft, Tony Elumelu Foundation, the Federal Ministry of Education, the Ministry of Youth and Sports Development, GIZ, World Bank, ILO, UNDP, UNFPA, the EU Delegation, and the Government of the Netherlands.
While delivering a report on GenU 9JA digital learning, Director of Corporate Communications and CSR at Airtel Nigeria, Femi Adeniran, reiterated Airtel’s dedication to driving digital inclusion and youth empowerment in support of Nigeria’s socio-economic development.
“For us at Airtel, we are actively involved in connecting schools and advancing digital learning for young Nigerians. Looking back at the debut of our partnership with UNICEF in 2023, we have exceeded our initial expectations in school connectivity, which highlighted the significant gaps in Nigeria’s educational system.
This year, we have made even greater strides and our involvement in initiatives like the Nigeria Learning Passport reflects our commitment to bridging this gap by expanding digital access, fostering learning, and building essential skills nationwide to support young Nigerians,” he said.
“Also, it would interest everyone to know that Airtel Nigeria’s new Home Broadband thematic campaign, ‘Live Limitless’, resonates strongly with the GenU 9JA ‘We No Get Limit’ motto, which underscores our dedication to empowering young Nigerians to unlock their full potential without barriers.
This commitment drives us to continue creating and promoting opportunities that equip the youth for a brighter future” he added. The GenU Steering Committee meeting served as a valuable platform for Airtel and other partners to deepen their commitment to the GenU 9JA mission.
By fostering collaboration and driving impactful initiatives, Airtel demonstrates its corporate social responsibility by actively contributing to programs that uplift Nigerian youth and promote sustainable development across the nation.
Telecom
Zarttalent Foundation’s Summit Prepares Nigerian Youth for Global Tech Careers
Zarttalent, a foundation dedicated to advancing digital literacy and tech education in Nigeria, hosted the How to Win With Tech Summit on October 17, 2024.
The event brought together students, educators, tech enthusiasts, and influential leaders for a day focused on the power of technology in shaping the future.
Notable guests included Sonia Onovughakpo Fajusigbe, Policy Advisor Entrepreneurship Youth Employment & Healthcare, Consulate General of the Netherlands in Lagos, and Elizabeth Owei-Oladepo, Youth Advisor at the Consulate General of the Netherlands in Lagos.
Their presence, along with teachers, principals, media representatives, and Zarttalent partners, highlighted the importance of collaborative efforts in driving tech innovation and education.
Opening the summit, Nelson Ajulo, Chief Executive Officer of Zarttalent, delivered a keynote address titled “The Power of Technology in Today’s World.”
He highlighted the role of technology in generating employment opportunities and creating global pathways for Nigerian talent. In addressing Nigeria’s high youth unemployment rate, Nelson emphasized Zarttalent Foundation’s commitment to equipping young people with in-demand tech skills that align with global industry needs.
“The goal of education is to prepare students with skills for a meaningful livelihood. Yet, the challenge in Nigeria is a misalignment between university training and the skills required by today’s economy, contributing to the high unemployment rate.
By introducing relevant, in-demand tech skills, Zarttalent empowers young Nigerians to go beyond the standard curriculum and gain expertise that sets them apart in a rapidly digitizing world,” he stated.
Sonia Onovughakpo Fajusigbe, Policy Advisor Entrepreneurship Youth Employment & Healthcare, Consulate General of the Netherlands in Lagos, delivered a compelling address titled “Leveraging Technology for Youth Empowerment and Entrepreneurship.”
She outlined the potential of tech-based skills to empower Nigerian youth to not only secure employment but also become problem-solvers in their communities. Fajusigbe encouraged the attendees to look beyond traditional jobs and consider digital entrepreneurship as a means to tackle local challenges and boost economic growth.
Fajusigbe’s keynote on technology as a tool for youth empowerment and entrepreneurship offered practical strategies for harnessing technology to create meaningful change. Her session encouraged students to see themselves as future innovators who can leverage tech to build a better society.
This landmark event is part of the foundation’s ongoing effort to empower the Nigerian youth and address its high youth unemployment rate by creating access to digital skills and mentorship.
The foundation aims to empower over 5,000 students over the next five years, equipping them with competitive tech skills that will translate into job opportunities, entrepreneurship, and solutions to real-life issues.
With Nigeria’s youth unemployment rate at record levels, the event focused on building sustainable career pathways and preparing a generation ready to thrive in a tech-driven economy, where digital skills are increasingly essential.
Telecom
MTN Foundation Celebrates 20 Years with Exclusive Anniversary Dinner in Lagos
As part of its 20th anniversary celebrations, MTN Foundation will host an appreciation dinner for key stakeholders and partners on November 14, 2024, at the Balmoral Hall, Sheraton Hotel, Ikeja. This dinner is designed to celebrate the Foundation’s two-decade journey of social impact and express gratitude for the invaluable support of its stakeholders and partners.
Following a series of impactful panel discussions at the anniversary conference in Abuja, the Lagos gathering will be a blend of sophisticated dining with an array of entertainment. The evening will bring together notable guests, including MTN Foundation directors and Lagos State Governor, Babajide Sanwo-Olu. Guests will also enjoy live performances by MTN MUSON scholars; talented young musicians whose training is fully funded by MTN Foundation. The event will also feature a performance by the Vintage Band, bringing a unique fusion of Afro-culture and pop music that promises to set an engaging tone for the evening.
The dinner will provide the opportunity for MTN Foundation to introduce its newly unveiled logo, vision, and mission to the Lagos audience. This refreshed focus underpins the Foundation’s dedication to ‘Inspiring Impact Where it Matters’ as it embarks on its next decade of social investment, prioritising youth empowerment, healthcare, and community development across Nigeria.
“We are deeply grateful to all our stakeholders and partners who have joined us on this 20-year journey. This dinner is a celebration of what we’ve achieved together and a look forward to the future of impactful investments in our communities,” remarked Odunayo Sanya, Executive Director of MTN Foundation.
The dinner promises all guests a memorable evening that celebrates past achievements and looks forward to a future of possibilities.
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