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Teleology finalises takeover of 9mobile, pays $50m deposit
Teleology Holdings Ltd., says it is transferring a non-refundable completion deposit of 50 million dollars to the trustees of the bank syndicate presently holding ownership of 9Mobile.
The company made this known in a statement signed by Mr Adrian Wood, Teleology’s Director and pioneer Managing Director of MTN Nigeria.
Wood said the payment underscored Teleology’s financial capability and readiness to revive the organisation, adding it was set to aggregate a 10-point to turn 9mobile around.
“The Nigerian telecom sector is set to witness a new era of innovation and vibrancy as Teleology puts finishing touches to its acquisition of 9mobile, Nigeria’s 4th telecom services provider.
“In the last few days, key executives of the organisation have been deep in meetings with the Nigerian bank syndicate, the regulatory authorities and advisors.
“These meetings have culminated in the signing of the Share Purchase Agreement (SPA) and other contractual documents pertaining to the acquisition.
“Ahead of the March 22 deadline set by the Financial Advisers, Teleology has also transferred a non-refundable completion deposit of 50 million dollars to the trustees of the bank syndicate presently holding ownership of 9Mobile.
“Equally important, Teleology has detailed an ambitious plan of action that will guide its rapid overhaul not only of the network but all aspects of the operations,” he said.
According to Wood, 9mobile is transiting into a new phase that will be defined by optimal value delivery: value to our employees, value to our customers, value to local communities and indeed to all stakeholders.
He added that the new organisation to emerge would be “engineering- led and brand-driven”.
He said in delivering service, it would strive to ensure that 9Mobile operations delivered fulfillment to the customers, empowerment to local communities, protection to the vulnerable, and excellent rewards not only to the shareholders but to all stakeholders.
Wood said the company planned to double the 9Mobile network with new 3G/4G specific cell sites as well as several thousands of kilometers of fiber optic cable across the country.
He said it would drive a special programme of rural internet coverage, focusing on 4G with broadband access planned for all of Nigeria’s 774 local government areas.
He said youth engagement and employment programmes were also planned with all build contractors, distributors and consultants, while investment in broadband internet access technologies which were completely new to Nigeria was also planned.
“Very importantly, the 9Mobile network will be optimised for high speed and high capacity data including imaging, video, games, music, IPTV and more.
“Any three-point plan or three-dimension idea is naïve and completely missing the scope and complexity of the urgent Nigerian need to be brought into the 21st-century broadband era.
“Teleology envisages an increase of 50 per cent indirect employment in the new 9Mobile.
“There is also an active plan to introduce within the first year, several million 4G-capable premium quality smartphones, at exceedingly affordable pricing.
“Nigerians should look forward to a new regime of intensely exciting and innovative brand loyalty rewards programmes, from the new 9Mobile,” he said.
He said that Teleology had entered into an alliance with Safaricom, the largest network operator in East Africa, famous for its global “mpesa” mobile financial services system.
He said the system advances financial inclusion and supports the network with the highest operating efficiencies in Africa.
He said that Teleology’s coming at a period when competition in the Nigerian telecom industry had for some years been limited to price wars between the various GSM companies, clearly, would herald a new era of intense competition and market share.
He said that Teleology was promoted by a group of 12 telecom industry veterans with considerable experience not only in Nigeria and Africa but in the global telecom space as well.
Wood commended the Barclays Africa, the Financial Advisers to the transaction, the Nigerian bank syndicate, the fulsome backing and support of the Nigeria Communications Commission and CBN which made 9Mobile’s survival possible.
He also commended the loyal 9Mobile management and staff who carried on in the face of scepticism, doubt and negative market sentiment.
He assured that additional details including formal relaunch plans would be unveiled in due course.
Teleology emerged as the new owner of 9mobile ahead of Smile, which had been the only other bidder in the final round of the takeover bid.
At the beginning of submission of bids, over 10 bidders had indicated interest in acquiring the mobile network, only five were shortlisted.
These include Bharti Airtel, Globacom, Helios Investment, Smile Communications and Teleology Holdings Ltd.
The acquisition bid was as a result of the Mubadala Development Company of the United Arab Emirates, 9Mobile (formerly Etisalat) largest shareholder, pulling out its investment out of the country.
The pullout was over a protracted 1.2 billion dollars syndicated loan alleged to have been mismanaged by the former board of the telecommunications firm.
The Enugu State government has inaugurated a steering committee to eliminate Gender-Based Violence, GBV, in the state, declaring zero tolerance for the social malaise.
The inauguration took place at the Government House Enugu.
The panel, which is chaired by the Commissioner for Children, Gender Affairs and Social Development, Mrs. Ngozi Enih, draws its membership from the Nigeria Police Force, Ministry of Agriculture and Agro Industrialisation, Ministry of Local Government, Rural Development and Chieftaincy Affairs, Ministry of Human Development and Poverty Reduction, Ministry of Trade, Investment and Industry, Ministry of Justice, Ministry of Health, Ministry of Education as well as the Civil Society.
Inaugurating the panel known as the Steering Committee for Strengthening Institutional and Community Responses to End Gender-Based Violence/Domestication of Enugu State Gender Policy using the Oputa Panel approach, Governor Peter Mbah restated his administration’s commitment to not bringing perpetrators of GBV to book, but also putting in place proactive measures – activities, infrastructure, and systems in place to prevent them.
Mbah, who was represented by the Secretary to the State Government, Prof. Chidiebere Onyia, said, “We take gender-based violence seriously. We have zero tolerance for it, and in Enugu State, we are ready to go the extra mile to deal with it.
“If you notice, the government has selected people that are very committed to this goal. This is not an activity where we just want to check-off the list. We will track this. We will monitor this, and we will have quarterly engagements on the successes that this particular committee has achieved in terms of reference that we are going to send.
“We will tighten those terms of reference indicators, so that we monitor what we are doing both in terms of cost input and the value added. It’s very important to us. Many people will be involved – civil society, the police and various ministries.”
He however, said that the effort was to protect everyone, men and women alike, as GBV was not restricted to any gender.
“The whole idea is to hold people responsible that are involved in matters relating to gender violence and deter people that by culture or by association get involved in that, protect women, protect our children, and in the case of violence against men, protect our men because most times we misconstrue gender violence to mean women, but it can also be men too.
“We encourage our men to speak out and to make sure they understand that the policy that Enugu State is soon going to domesticate is for everyone, and not only for the female gender,” he stated.
In her remark, Mrs. Enih, explained that the Oputa Panel approach was inspired by the need to cover all local peculiarities in domesticating the policy on GBV, restarting government’s confidence in the members of the panel.
“The approach we are going to use is the Oputa Panel approach, and in the Oputa Panel approach, we are going to tour the 17 Local Government Areas to get firsthand information about what our people are going through because policy is meant for the people, and a policy should suit the people.
“Again, every community has its peculiar problems, so that’s why the government decided that if we have to domesticate the gender policy, we have to hear from the people who own the policy and know the changes that they desire to see. That is the reason we are using this approach.
“The committee members are to also serve as judges. As we gather this information from our people, we will come back to tailor it in a way to suit the people of Enugu State, and then our policy is ready.
“We want the people to know that there is a gender policy for them. I can assure you that when the people are aware that there is such a policy, they will seek for the enforcement of that policy. So, this is not going to be one of those policies that will just lie on the shelf,” she said.
Digital solutions provider, Globacom, has congratulated Christians in Nigeria on this year’s Easter celebration, and urged them to emulate the noble qualities of Jesus Christ.
The company, in a goodwill message to the Christian faithful in the country, lauded their perseverance through the Lenten period which preceded Easter. It enjoined them to always promote the ideals of selflessness, love and peace among all as a way of demonstrating the virtues of the exemplary life of Jesus Christ.
“Peace, love and sacrifice are the central message of Easter. Christ offered himself in atonement for the sins of the world and he lived a life which made Him an eternal symbol of peace and goodwill for mankind”, Globacom added.
The company enjoined all Nigerians to share in the lessons of promoting selflessness, a necessary ingredient in the growth and development of every society. It also enjoined all Nigerians to join hands to make Nigeria a better place for all.
Easter is celebrated yearly at the end of the Lenten season of fasting and prayer considered as a ritual of purification for the Christian faithful. It also precedes the crucifixion of the Lord Jesus Christ on Good Friday and His eventual resurrection on Easter Sunday.
The company assured its customers of seamless voice, data and Short Messaging Service (SMS) during and after the Easter celebrations, while urging them to avail themselves of the various data and voice offerings on the network.
The Guild of Private Broadcast Managers has extended its heartfelt congratulations to the Nigeria Union of Journalists (NUJ) as it celebrates its 70th Anniversary.
In a congratulatory message signed by the Guild’s National President, Ambassador Patrick Uzoyi-Peters, JP MNGRM, the guild described the milestone as a testament to the NUJ’s unwavering commitment to upholding press freedom, journalistic integrity, and the advancement of democracy in Nigeria.
“For seven decades, the NUJ has played a pivotal role in shaping the media landscape, advocating for the rights and welfare of journalists, and ensuring that the voice of the people remains strong and unyielding. Your resilience, professionalism, and dedication to ethical journalism have been instrumental in fostering transparency, accountability, and national development”.
Celebrating this historic achievement, the Guild’s President, Uzoyi-Peters recognized the sacrifices and contributions of journalists across the nation who work tirelessly to inform, educate, and empower society.
The Guild reiterated it commitment towards collaborating with the NUJ in promoting responsible journalism and strengthening the media industry for the greater good.
While wishing the NUJ continued success, growth, and greater impact in the years ahead, President Uzoyi-Peters prayed that the anniversary serve as a renewed call to uphold the principles of truth, fairness, and press freedom in our collective pursuit of a more informed and just society.
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