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BUA Group, Others Race to Buy 9Mobile

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BUA Group, Virgin Mobile from the United Kingdom and Vodacom of South Africa are some of the companies in the running to buy 9Mobile, formerly Etisalat Nigeria.

A few others have also signified interest to takeover 9Mobile which still enjoys large patronage and loyalty despite its crisis, according to Daily Post.

The number one item on negotiations with investors is the offset its $1.2 billion bank loan.

BUA, Virgin and Vodacom are set to submit their memoranda of interest and technical presentations.

The banks have appointed advisers, which include Standard Bank of South Africa and Citibank of New York, to receive and evaluate bids.

According to Daily Post, every bid will then be reviewed before they are tendered to the board of new directors.

Trouble started when Etisalat Group disclosed on the Abu Dhabi Stock Exchange two weeks ago that it had pulled out of Etisalat Nigeria and was transferring 45 per cent of its stake and 25 per cent of its preference shares in its Nigerian subsidiary to United Capital Trustees Limited, the legal representative of the lending banks.

Aside Etisalat Group, other shareholders of Etisalat Nigeria include Mubadala Development Company with a 40 per cent stake and Emerging Markets Telecommunications Services (EMTS), representing the Nigerian shareholders, with 15 per cent.

Etisalat Nigeria had in 2013 approached a consortium of 13 local banks for a loan of $1.2 billion for network upgrade and expansion. The money was sourced in dollar and naira denominations.

However, citing the economic downturn of 2015-2016 and naira devaluation, which negatively impacted on the dollar-denominated component of the loan, Etisalat wrote its creditors informing them of its intention to halt the repayment of the loan in instalments, until such a time that it was able to raise more money.

The banks involved in the loan deal are: Zenith Bank, GTBank, FirstBank, UBA, Fidelity Bank, Access Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank.

Zenith Bank has the highest exposure to Etisalat amounting to $262 million and N80 billion, GTBank has the second highest exposure of $138 million and N42 billion, Access Bank follows with $131 million and N40 billion.

Etisalat Nigeria also owes UBA $125 million and N38 billion; FirstBank – $79 million and N24 billion; Fidelity Bank – $56 million and N17 billion; Stanbic IBTC – $25 million and N7.5 billion; FCMB – $15 million and N4.5 billion; and Ecobank – $10 million and N3.1 billion.

But Etisalat Nigeria had countered this information, stating that it had paid $500 million up till February 2017. It said the outstanding loan to the lenders stands at $227 million and N113 billion, a total of about $574 million if the naira portion is converted to US dollars.

In their argument, bank officials insist they had financed the importation and purchase of the towers through Huawei of China to help build the infrastructure backbone for Etisalat and that when the company earned foreign currencies from the sale, it failed to repay its US dollar loans as was done by other telcos like MTN and Airtel.

Etisalat Nigeria, after its take over by banks, constituted a new board following gale of resignations.

Hakeem Bello-Osagie first resigned as Chairman.

A few days later, chief executive officer (CEO), Mr. Matthew Willsher, and chief financial officer (CFO), Mr. Wole Obasunloye, both stepped down.

In the new board is a deputy governor of the Central Bank of Nigeria (CBN) and chairman of African Finance Corporation (AFC) as its chairman.

Etisalat Nigeria on last Wednesday officially unveiled its new brand identity, 9mobile, with a new logo.

Boye Olusanya, chief executive officer of 9mobile, said the new logo was in conformity with the new name and reflects the bold and creative attributes which the company shared with its valued subscribers.

According to him, the rebranding will enable the company to connect more with its subscribers, especially the youth.

“In our nine years of operations, we have remained at the forefront of innovation and take pride in consistently delivering superior experiences to our subscribers.

“We continue to establish meaningful partnerships with our customers and partners by providing platforms that support their goals and aspirations”.

Olusanya said that the new name and brand were a deliberate representation and confirmation of its Nigerian heritage.

He added that that though the company’s name and brand changed, the values on which it operated remained the same.

“The colour green, both its light and dark variants, reflects vibrancy, dynamism, life and youth, as well as the brand’s ‘Nigerianness’.

“With the launch of our new brand, our commitment to providing our subscribers with best-in-class telecommunications services continues.

“We live in a digitalised world and 9mobile is positioned to deliver more platforms, products and services, using the power of technology.

“The vivacity of our new brand is an affirmation of our creativity and the recent launch of value adding services, such as our BlazeOn and Kwikcash platforms, are testaments to this”, Olusanya added.


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Spacecoin Secures Licenses to Roll Out Satellite Connectivity in Nigeria, Kenya

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Spacecoin, US-based, has announced the signing of recent agreements with local authorities and operators to launch satellite connectivity pilot projects in Africa.

Spacecoin Secures Licenses to Roll Out Satellite Connectivity in Nigeria, Kenya

The initiatives, focused on Kenya and Nigeria, aim to serve areas where terrestrial networks remain limited or unavailable.

n Kenya, Spacecoin has obtained a transmission license from the Communications Authority, allowing it to test satellite-based solutions for connectivity and Internet of Things (IoT) monitoring, particularly in rural and peri-urban areas with limited internet access.

According to the Kenyan regulator, internet penetration remains below 50% of the population, despite mobile penetration exceeding 130%.

In parallel, the company is continuing operations in Nigeria under an existing license issued by the Nigerian Communications Commission (NCC).

This authorization supports initiatives aimed at delivering affordable broadband connectivity to isolated and underserved communities.

Spacecoin’s approach is based on a decentralized satellite network using nanosatellites in low Earth orbit (LEO).

Combined with blockchain-based protocols, this architecture is intended to offer more flexible and cost-effective connectivity services than traditional networks, while also enabling the integration of IoT solutions for a range of uses, from smart agriculture to infrastructure monitoring.

These projects are part of a broader strategy to help narrow Africa’s digital divide, where a significant share of the population still lacks access to reliable internet services.

Satellite technology is increasingly viewed as a complement to terrestrial infrastructure, particularly in hard-to-reach areas where deployment costs and geographic constraints remain high.

Beyond Africa, Spacecoin is also running pilot projects in Asia, working with local partners to test the viability of its model across different regulatory and geographic environments.

According to the company’s management, growing interest from regulators reflects a shift toward solutions capable of reaching populations that have long been excluded from internet access.


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AVEVA Names Khaled Salah Vice President for Africa to Drive Growth

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AVEVA, a global leader in industrial software, driving digital transformation and sustainability, today announces the appointment of Khaled Salah, 37 years old, as Vice President of Africa.

AVEVA Names Khaled Salah Vice President for Africa to Drive Growth

Khaled Salah

In this new role, he will be responsible for about 30 employees to ensure the successful implementation of AVEVA’s growth strategy. Khaled Salah will report directly to Jesus Hernandez, SVP of the EMEA region.

A 15-years + career across different industries and domains

With a MBA in management from the Warwick business school, UK, and a master’s degree in engineering from Ain Shams university in Egypt, Khaled Salah is an active advocate for driving sustainable progress in the industrial sector. With Sustainability in mind, Khaled is keen on making a positive business impact, while fostering progress for people and the planet.

He started his career at Schneider Electric, in 2013 in the global supply chain and evolved through various roles such as Europe procurement and supply chain strategy Manager, and Global Commercial strategy Director for the industrial automation business. Khaled Salah has developed a strategic understanding of all those fields.

After 12 years in Schneider Electric, Khaled joined AVEVA in 2022 to lead AVEVA and Schneider Electric global strategic partnership, across all industries managing a team of 30 people.

He has led the introduction of new AVEVA software solutions to initiate and develop significant growth areas across all Schneider Electric verticals.

Ambitious plans for AVEVA in Africa

In addition to his current role as AVEVA and Schneider Electric partnership Vice-President, Khaled now takes over the management of AVEVA’s activities in Africa.

Jesus Hernandez, SVP of the EMEA region says: “Africa is a strategic region for AVEVA. In this major industrial market, customers, world leaders in the fields of Energy, Metal & Mining, Chemicals, and Water, are looking for AVEVA’s expertise to accelerate and drive their digital transformation and sustainability strategies, as well as their energy transition projects.

“Khaled Salah’s qualities of leadership in a global environment will benefit his team spread across 12 countries including Algeria, Morocco, Egypt, Kenya, Nigeria, and South Africa.”

Motivated by the prospect of capitalizing on the talent of his team to strengthen AVEVA’s presence in Africa in the years to come, Khaled Salah says: “Helping my team realize their professional potential is close to my heart.

“We will work together to support and accelerate the digital transformation of industries in Africa, in particular through CONNECT, our industrial intelligence platform, with the support of our ecosystem of partners. »


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Google Report: Nigeria Leads Global AI Adoption in Learning, Entrepreneurship

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A Google-Ipsos report reveals Nigerians topping global AI usage at 88%, surpassing the 62% worldwide average, with sharp rises in education and business applications.

Google Report: Nigeria Leads Global AI Adoption in Learning, Entrepreneurship

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“Our Life with AI: Helpfulness in the hands of more people” shows 93% of Nigerians using AI for learning complex topics versus 74% globally, 91% for work assistance, and 80% for new ventures—nearly double the 42% global rate.

Taiwo Kola-Ogunlade, Google’s West Africa Communications Manager, stated: “Nigerians are creatively using AI to unlock opportunities for learning, growth, and economic empowerment, shaping their future with technology.”

Key findings highlight 91% viewing AI positively for learning access, 95% expecting benefits for students and educators, and strong optimism—80% excited versus 20% concerned, compared to global 53%-46% split. Frequent users show 90% excitement


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