Mafab Communications Ltd., is a little known local provider of telecom services, that edged out Airtel on Monday at the auction for one of the two slots of the 3.5GHz spectrum for the Fifth Generation (5G) network licenses.
Mafab Communications Limited challenged MTN Nigeria and Airtel Nigeria at the auction which ended at $273 million for per slot, according to Professor Umar Danbatta, executive vice chairman, Nigerian Communications Commission (NCC) and overseer of the auction
The bid ended after nearly eight hours and 11 rounds of auctions which began at $199.37 million as against the reserve price of $197.4 million.
Airtel Nigeria, a top telecom company, dropped out of the race as the 5G spectrum reached $275.9 million at the 11th round to pave way for the emergence of MTN Nigeria and Mafab Communications as winners of the two slots on offer.
Mafab later emerged as the second winner of the 5G licence at the assignment stage.
Mafab Communications, led by Musbahu Muhammad Bashir, was licensed in July 2020, as an International Data Access (IDA) by the NCC.
The company operates under three licenses, including interconnecting exchange, international data access, and value-added services, providing cloud hosting or co-location services.
Mafab is one of the technological subsidiaries of Althani Group, a business conglomerate chaired by Bashir, a business tycoon.
According to details on its website, “Althani group of companies is a corporate group of companies in Nigeria with a collection of subsidiary businesses.
“The group consists of a variety of companies with diverse objectives, cutting across several sectors including oil and gas, housing, construction, aviation, amongst others.”
The group’s subsidiaries include Eman Homes and Estate, Althani Investment, Salam Takaful Insurance, Malband Communications Limited, Holborn Oil and Gas international, Althani Oil and Gas Limited, Althani Shelters Limited, Pelican Air Services Limited, Cryogenic Industries Limited, Clearview Apartments, and Mafab Communications.
Who is Musbahu Muhammad Bashir?
Musbahu Muhammad Bashir serves as chairman on the board of his two companies — Althani Group of Companies and Cobalt International Services Limited, a pre-shipment inspection agent currently inspection agent for oil and gas exports in the country.
The business magnate is also a director at Bento Drill Nigeria Limited, Offshore Technologies International Limited, and Resource Capital Group.
At Jaiz bank, a Nigerian bank operating under Islamic banking principles and a non-interest bank, Bashir also serves as a member, board of directors.
He is the chairman, board of directors of Salam Takaful Insurance, a subsidiary of Althani group of companies, headquartered in Kano State.
The insurance firm was incorporated in 2016 — operating both family and general Takaful Insurance as well as retail Takaful line of business with a wide range of products.
Takaful is a sharia law-compliant insurance structure in which members agree to provide insurance for one another by contributing to a pool of funds that are used to recompense participants who suffer a loss.
Bashir worked with Hammad Development Facilities in 1987 and Jadai Diversified Services in 1989.
Bashir has vast experience of more than twenty years in general management, leadership, and engineering, according to details on the company’s website.
He has attained several certifications from high-profile institutions, including American University, London, and Harvard Business School, USA.
In a post, the Althani Group describes Bashir as undoubtedly a hardworking, resilient, and effective businessman with a strong personality.