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35m Shares of Etisalat Goes on Sale by Private Placement

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Premium Telecommunications Holdings Limited (PTHL), a special purpose vehicle which holds the interests of Nigerian investors in Etisalat Nigeria has offered for sale by private placement 35 million shares held by Karington Telecommunications Limited of Etisalat Nigeria.
The 35 million shares is about 17.5 percent of the Nigerian company and is being priced at $10 per share with a market capitalization of $350 million or N56 billion at a conversion rate of N160 to the dollar.
Private placement is raising of capital via private rather than public placement. The result is the sale of securities to a relatively small number of investors. Investors involved in private placements are usually large banks, mutual funds, insurance companies, and pension funds as well as high networth individuals.
The placement is being done to enable a greater number of Nigerian nationals and companies to participate in the opportunity. By acquiring shares in PTHL, potential investors will acquire indirect interests in Emerging Markets Telecommunications Services (EMTS).
EMTS, is Nigeria’s new GSM-based telecommunications network and operates under the “Etisalat” brand as “Etisalat Nigeria”. By acquiring shares in PTHL, potential investors will acquire indirect interests in EMTS.
The offer which opened on March 23, 2009 is scheduled to close on April 24, 2009.
The issuing house to the offer is FSDH Asset Management Limited (FAML) while each share is being offered at a unit price of $10.
Investors are required to subscribe to a minimum of 100,000 units, which brings the minimum value of investment to $1million.
According to the prospectus, investors could also apply for additional multiple shares of 50, 000 units which cost $500,000.
Etisalat, is a Nigerian company incorporated under the laws of Nigeria in partnership with Mubadala Development Company and Etisalat of the United Arab Emirates.
Incorporated in Nigeria as a private company, it acquired the Unified Access License from the Federal Government in January 2007. The license includes a mobile license and spectrum in the GSM 1800 and 900 MHz bands at a price of $400million (Four Hundred Million U.S. Dollars). Etisalat acquired a 40% stake in EMTS and is now the operator of the Unified Access License.
Etisalat has been the telecommunications service provider in the United Arab Emirates since 1976. In its 32 years of operations, it has built up state-of-the-art telecom infrastructure and taken a leadership position of innovation and reliability among regional and international operators.
Etisalat has footprints in 16 countries traversing the Middle East, Asia and Africa. In Africa, Etisalat’s operations span 10 African nations including Sudan and Zanzibar. It therefore begins operations in Nigeria with considerable experience in successfully rolling out networks in challenging terrains.
In Nigeria, Etisalat made the first official call on its network on the 13th of March 2008 in the presence of dignitaries from the Nigerian Communications Commission (NCC) and the Senate of the Federal Republic of Nigeria.

 

 


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Microsoft Revamps Copilot in Workplace AI Push

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Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


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Dangote Refinery Debunks Speculations on IPO

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Dangote Petroleum Refinery and Petrochemicals (DPRP) has debunked recent circulation of unauthorised information regarding a potential Initial Public Offering (IPO).

Dangote Refinery Debunks Speculations on IPO

In a statement, DPRP noted that several online platforms and unofficial sources have published unverified, and in some instances inaccurate, information relating to a potential offering.

“Such reports do not originate from DPRP and should be treated with caution. All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.

“Accordingly, the public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives,” the statement said.

The firm assured stakeholders that, when appropriate, comprehensive, and accurate details regarding any proposed transaction will be made available through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.


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Descasio Launches “Give to Gain” Leadership Insights Report, Hosts Executive Brunch for Women in Leadership

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In celebration of International Women’s Day, Descasio hosted an intimate executive brunch bringing together distinguished women leaders from its customer community for a thoughtful conversation on leadership, partnership, and shared growth.

Centered around the 2026 International Women’s Day theme, “Give to Gain,” the gathering created space for accomplished women in enterprise leadership to reflect on mentorship, collaboration, and investing in people as key drivers of sustainable growth.

Held in Lagos, the event convened leaders from organizations including Honeywell Group Limited, Finchglow Travels, NGCOM, and Eroton Exploration & Production Company.

Guests were personally welcomed at the start of the gathering by Mr. Dele Nedd, CEO of Descasio; who greeted each of the women leaders and expressed his appreciation for their presence before leaving the session to allow the women lead the conversation among themselves.

The gesture reflected Descasio’s leadership culture; one where women are not only recognized, but actively supported and empowered. It also underscored the company’s belief that meaningful progress in leadership requires partnership and allyship across the organization.

Rather than a traditional panel discussion, the brunch was designed as a candid and reflective exchange among peers navigating leadership in complex industries. Throughout the conversation, participants shared perspectives shaped by experience, responsibility, and the realities of leading teams and organizations.

A recurring theme in the discussion was the role of execution and accountability in leadership. For many organizations, strategy alone is not enough; consistent delivery is what ultimately builds credibility and trust.

Reflecting on this, Josephine Adebola, Data Compliance & Process Automation Manager at Finchglow Travels, emphasized the importance of reliability in leadership and the discipline required to translate vision into results. “Get it done on time and in full.

The conversation also explored the role of curiosity and continuous learning in shaping effective leaders. In rapidly evolving industries, the ability to ask questions, remain open to new perspectives, and keep learning is often what enables leaders to grow alongside their organizations.

Sharing her perspective, Tomi Otudeko, Chief Operating Officer at Honeywell Group Limited, reflected on how curiosity has shaped her leadership journey.

“Asking questions and continuously learning have always stood me in good stead as a leader.”

She also spoke about the importance of leading with empathy and understanding the people behind the roles within organizations.

“Everyone has multiple dimensions to who they are. Leadership has taught me to see people in their totality. That awareness doesn’t make a leader weak; it makes them more effective.”

Another important theme that emerged from the conversation was authenticity in leadership. In an environment where leaders often face pressure to conform to traditional expectations, remaining true to one’s identity while continuing to evolve is essential.

For Helen James-Eziashi, General Manager at NGCOM, authenticity and curiosity remain key guiding principles. “Be yourself, keep learning, and stay curious.”

The discussion also highlighted the role of self-awareness in sustaining leadership journeys, particularly in complex and high-responsibility environments. Understanding one’s values, motivations, and support systems often becomes the anchor that allows leaders to navigate uncertainty with confidence.

Reflecting on this, Ifeanyi Onyejekwe, IT Manager at Eroton, emphasized the importance of knowing what grounds a leader.

“Know who you are and understand what supports and sustains your leadership journey.”

According to Descasio, the event reflects its broader commitment to building strong partnerships and fostering meaningful leadership conversations across its enterprise customer community.

“For us, this was about more than marking International Women’s Day,” said Umama David-Ogebe, The HR Manager at Descasio. “It was about creating a space where leaders could learn from one another and reflect on the kind of leadership that builds strong organizations. The most meaningful partnerships grow from conversations like these.”

To extend the impact of the discussion, Descasio has published “The Give to Gain Leadership Report: Insights from Women Leading Enterprise Organizations,” a curated publication capturing key reflections and leadership lessons shared during the session.

The report highlights themes including:

  • The role of curiosity and continuous learning in leadership
    • Building stronger teams through empathy and accountability
    • The importance of authenticity and self-awareness in navigating leadership journeys
    • How investing in people drives stronger partnerships and resilient organizations

The Give to Gain Leadership Report is now available for download Here.


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