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NCC, CBN Query Barclays’ Transparency in Sale of 9mobile

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The handling of the sale process of 9mobile by Barclays Africa, the financial advisers, has come attack from the Central Bank of Nigeria (CBN) and the Nigeria Communications Commission (NCC), according to the Cable.

 

Barclays Bank has been saddled with the responsibility of finding investors for 9mobile based on the decision of Nigerian lenders.

 

In a joint letter to GTBank, which is the facility agent for the 9mobile syndicated loan, Umar Danbatta, the executive vice-chairman of NCC, and Godwin Emefiele, the governor of CBN, expressed displeasure with the “unwillingness of Barclays Africa” to follow due process in the bid.

 

In the letter, dated November 4, 2017, the two regulators said they made it clear from the outset that the sale process must be “transparent and fair, with the financial and technical capabilities of the final bidders without question”.

 

They said they now have “serious concerns” since the appointment of Barclays Africa as financial advisers.

 

“They have repeatedly exhibited signs of opacity in the sale process for 9mobile. Given the overriding public interest in the company and the need for transparency, we advised that Barclays advertise the call for ‘expression of interest’. Barclays declined, insisting instead that the company being a private one, should not be taken through a public sale,” they wrote.

 

“This lack of a transparent process has proven to be selective and arbitrary, leading to allegations that the process is being teleguided to a rigged and predetermined outcome. The CBN and the NCC will not fold their arms and allow this to materialise.”

 

Danbatta and Emefiele said they had received reports and petitions from various stakeholders, including some bidders, which have further heightened their concerns — but their suggestions to the board of 9mobile and Barclays on how to restore credibility to the process have been ignored.

The CBN and NCC then directed that all steps and decisions taken by the financial advisers as well as other advisers from the end of “expression of interest” must be communicated to CBN and NCC, who will have to approve in writing.

They also directed that the final bid process must be “open and transparent” in line with international best practices.

 

Danbatta and Emefiele said the December 31, 2017 deadline for the handover of 9mobile to the preferred bidders “remains sacrosanct”.

 

On Monday THISDAY reported that 1o firms have moved to the financial stage of the bid process.

 

The companies listed are: Globacom Nigeria Limited, Bharti Airtel, Alheri Engineering Limited, Smile Telecoms Holdings, Helios Towers, Centricus Capital, Africell, Abraaj Capital, Teleology Holdings Limited, Ericsson, Africa Capital Alliance (ACA) and The Carlyle Group.

 

The company formerly knows as Etisalat Nigeria changed its brand name to 9Mobile in July after the Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator following a N541 billion debt.

 

The debt is owed to a consortium of 10 banks, with GTBank acting as the facility agent.

 

The sale of 9mobile, with 21 million subscribers, is expected to bring in the needed capital to restore it to good health.


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Airtel Nigeria Leads Telecom Market Surge

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In a recent revelation from the Nigerian Communications Commission (NCC), Airtel Nigeria has emerged as a standout performer in the country’s telecommunications sector, marking significant gains in market share over the past year.

According to the NCC data, by the end of March 2024, Airtel Nigeria has grown its market share over the last year into a remarkable 29%, solidifying its position as a leading telecom provider in the region.

In stark contrast, other mobile network operators such as MTN and 9mobile have faced considerable setbacks, with MTN witnessing a notable 3.19% decline in market share and 9mobile experiencing a 0.5% decrease.

Even Glo, a prominent player in the market, saw a decline, albeit less pronounced, with a 0.58% drop in its share of internet subscribers.

Airtel Nigeria’s success story goes beyond market share gains. The company has also witnessed a substantial surge in its share of internet subscribers, boasting an impressive 165% basis points increase.

This surge correlates with the launch of Airtel 5G, which the company began rolling out in June 2023 and underscores the telco’s continued push to grow its customer base nationwide.

Airtel Nigeria’s ascendancy in the telecom market comes at a pivotal moment when mobile network operators face challenges of rising operations cost and exchange rates volatility. The company’s recent results solidify its position as a frontrunner in Nigeria’s telecom landscape.

 


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#BuildWithAI Hackathon: Google Developer Groups Lagos Partners SeerBit, GoMyCode

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Google Developer Groups Lagos (GDGLagos) has announced a regional edition of the global #BuildWithAI hackathon, in partnership with SeerBit, Africa’s most trusted payment solutions provider and GOMYCODE.

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This hackathon, taking place on Saturday, April 27th and Wednesday, May 1st, 2024, will empower participants to explore Google’s AI tools, Gemini and Vertex AI and develop innovative solutions for real-world challenges.

“We are excited to partner with Seerbit and GoMyCode to bring the #BuildWithAI hackathon to Lagos,” says Co-Organizer, GDGLagos, Femi Taiwo. “This event fosters innovation and empowers individuals to use AI to solve real-world problems. We encourage everyone interested in AI to join us for this inspiring event.”

Founder & CEO of SeerBit, Omoniyi Kolade articulated the profound impact of this collaboration, stating, “At  SeerBit, we are committed to pioneering innovative solutions that enhance financial security and foster trust in digital transactions. Collaborating with GDG Lagos amplifies our quest to combat fraud effectively. Together, we aim to empower developers to harness the power of technology for the greater good, ultimately benefiting society as a whole.”

“At GOMYCODE, we are committed to unlocking the potential of innovators across Nigeria and beyond through accessible technology education. The ‘Build With AI’ hackathon with Google Developer Groups Lagos offers a hands-on chance for innovators to use AI for real-world solutions. We’re excited to create a space where technology meets creativity, empowering participants to actively shape the future,” Country Head, GOMYCODE Nigeria, Babatunde Olaifa said.

The #BuildWithAI hackathon aligns with Google’s global initiative to democratize access to AI technology. This regional event in Lagos offers a unique opportunity for developers, data scientists, designers, students, and anyone curious about AI to:

  • Gain hands-on experience with Google’s cutting-edge AI tools, Gemini and Vertex AI.
  • Tackle real-world challenges across various sectors like sustainability, finance, education, healthcare, and social good.
  • Leverage SeerBit’s expertise in digital payments to create solutions with tangible applications.
  • Develop in-demand skills with the support of GoMyCode’s training resources.
  • Collaborate in teams and network with fellow AI enthusiasts.
  • Compete for a chance to win a cash prize of NGN 1,000,000, office space to further develop their winning solution, and the opportunity to partner with SeerBit, with NGN 500,000 and NGN 250,000 for second and third place respectively.

The GDGLagos #BuildWithAI hackathon serves as a springboard for the global Google AI Hackathon, taking place online. This international event focuses on pushing the boundaries of what Generative AI apps can do with Gemini. Participants in the Lagos event are highly encouraged to consider entering the global competition as well.

GDGLagos will provide ongoing support and guidance to the regional winner as they prepare to compete on the global stage. This includes access to mentorship, resources and technical expertise to help them refine their solution and showcase their talent to a worldwide audience.

Startup founders, experienced developers, data scientists and expert resources and designated mentors will be available during the hackathon to provide guidance, refine ideas, answer questions and offer technical support to participants.  This ensures they receive the necessary guidance to tackle the challenges and bring their innovative ideas to life.


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Airtel Boosts NIPR Public Relations Week with Onsite Unlimited Data Connection

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Telecommunications service provider, Airtel Nigeria has collaborated with the Nigeria Institute of Public Relations (NIPR) to provide with unlimited internet access at the institute’s inaugural edition of the Nigeria Public Relations Week.

The trailblazing event themed ‘Leveraging Public Relations as a Critical Asset for Nigeria’s Economic and Reputation Renaissance’ is set to run from Monday, April 22nd to Friday, April 26th, 2024, and will welcome thousands of delegates across Nigeria to the prestigious June 12 Cultural Centre, nestled in the heart of Abeokuta, the Ogun State capital.

Speaking on the strategic collaboration, Femi Adeniran, Director, Corporate Communications and CSR, Airtel Nigeria, expressed enthusiasm about the partnership, stating, “Airtel is proud to support the Nigeria Institute of Public Relations in its endeavor to advance the field of public relations.

“The relevance of public relations practice in Nigeria cannot be overstated, as it plays a vital role in shaping perceptions, managing reputations, and influencing public opinion. Hence, our support is a demonstration of our commitment to empowering individuals and organizations with innovative solutions that drive progress and create an enabling society.”

According to NIPR, through the PRWeek Organizing \Committee Chairman, Mr Yomi Badejo Okusanya, the NPRW will gather over 2,000 experts in the fields of economics, PR, and nation-building to discuss strategies for effectively communicating government policies and initiatives to the public.

Other activities at the NPRW will include conferences, the annual general meeting, workshops, induction of new members, breakout sessions with students as well as traditional rulers and a tour of some legacy projects in Ogun state.

With Airtel’s provision of onsite unlimited data connection, attendees and participants can enjoy unparalleled access to online resources, real-time updates, and interactive engagements throughout the duration of the event. This will significantly support the exchange of ideas, foster networking opportunities, and elevate the overall experience for all stakeholders involved.

Airtel Nigeria remains committed to offering unwavering support for initiatives aimed at driving innovation, collaboration, and nation-building.


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