On the re-opening of SLPP Office … “We would never encourage violence” John Benjamin...

Sierra Leone Business: Africell bids for ‘9 Mobile’ in Nigeria

The parent company of Africell, which is trading as Lintel is one of 20 companies bidding to take over the ailing mobile network in Nigeria, ‘9 Mobile.’
The mobile company was formerly known as Etisalat Nigeria, but early this year ran into financial difficulties and had its brand name changed from Etisalat to ‘9 Mobile.’
The financial problems stem from the fact that the mobile company could not service its debt of $1.2billion which it had taken from some 13 banks in Nigeria. This required the intervention of the Central Bank of Nigeria which negotiated with the banks to freeze all payments for the principal sum and interest until a new investor is found to take over the mobile company.
Before its problems the network had a subscriber base of around 20 million Nigerians.
So far the two biggest mobile networks in Nigeria, MTN and Airtel have expressed interest in acquiring ‘9 Mobile.’ Also 18 other companies including Africell have submitted Expressions of Interest in the bid to acquire the mobile network to Barclays Bank which has been given the task to find new investors.
Africell has networks in The Gambia, Uganda and the Democratic Republic of Congo (DRC) and is the biggest network in Sierra Leone.
Monday October 30, 2017.

Comments are closed.