Business

Amid debt crisis, Etisalat becomes 9Mobile Telecom

Amid debt crisis, Etisalat becomes 9Mobile Telecom,
By Editor

Etisalat Nigeria on Thursday finalized the process for its change of name following the ultimatum issued it by its recently departed international partner, Etisalat International, who have rights to the brand. The company will now be known as 9Mobile Telecom.

Emerging Markets Telecommunication Services Ltd. (EMTS), operating as Etisalat Nigeria, had said “discussions are ongoing between EMTS and Etisalat Group pertaining to the continued use of the brand, and EMTS will issue a formal statement once discussions are concluded”.

United Arab Emirates-based Mubadala Group, Etisalat Nigeria’s major investor with 45 per cent stake, had only a few weeks ago withdrawn its investment from the company owing to the failure to resolve a N541 billion debt with a consortium of Nigerian banks.

Read also: Despite deadline, Etisalat Nigeria still fighting to use brand name

In a bid to steady ship and plan for smooth transition, Etisalat Nigeria which has about 21 million subscribers, had on July 4, 2017, appointed a new board after reallocation of shares. Boye Olusanya, former Deputy Managing Director of Celtel Nigeria (now Airtel Nigeria), was appointed as the Chief Executive Officer of Etisalat Nigeria to oversee the transition.

The transition was brokered with the support of the Central Bank of Nigeria (CBN) and National Communications Commission (NCC).

RipplesNigeria ….without borders, without fears

Click here to download the Ripples Nigeria App for latest updates

Join the conversation

Opinions

About the author

Editor

We are an online newspaper, very passionate about Nigerian politics, business and its leaders. We dig deeper, without borders and without fears.

  • Anita Kingsley

    This is the beginning of new dawn for all the subscribers. I’m sure 9mobile will improve for good

    • seyi jelili

      With more awoof. Thief

  • Animashaun Ayodeji

    Actually, another name would have been better, not ‘9Mobile’, If they named it ‘9jaMobile’, everyone will easily relate with it. 9Mobile makes no sense until they prove otherwise

    • Abeni Adebisi

      The 9 is most likely a short form of 9ja, however, I’m sure by the type the company fully unveils the meaning and the new branding everyone will love it.

  • JOHNSON PETER

    This is a bad omen. Etisalat has turned to AIRTEL that changed names several times, it’s a bad one for etisalat because their instability has begun. Mtn, Glo are standing today because they have business acumen

  • yanju omotodun

    Lack of management etiquette killed this first etisalat coupled with high level of corruption of the top management cadre. Welcome, let’s see how 9mobile will thrive

    • seyi jelili

      9mobile means it’s for 9 owners, they can’t last