What happened to Etisalat network in Nigeria?

Etisalat has terminated its management agreement with its Nigerian arm and has given Etisalat Nigeria three weeks to phase out the brand in the country. The decision of the Abu Dhabi owned telecommunications networks resulted after the failure of its $1.7 billion loan talks collapsed.

Why did Etisalat leave Nigeria?

Etisalat Nigeria is the biggest foreign-owned victim of dollar shortages plaguing the country due to lower oil prices and economic recession, leaving the company struggling to make repayments to lenders and suppliers.

Who bought Etisalat Nigeria?

The Funtua group purchased Etisalat, despite not having met the conditions set by NCC, they edged out one Adrian Woods out of the management and turned him into an insignificant shareholder.

Is 9mobile owned by a Nigerian?

Emerging Markets Telecommunication Services Ltd. (EMTS), trading as ‘9mobile, is a Nigerian private limited liability company. EMTS acquired a Unified Access Service License from the Nigerian Communications Commission in 2007.

How old is Etisalat in Nigeria?

In Nigeria, Etisalat made the first official call on its network on the 13th of March 2008 in the presence of officials from the Nigerian Communications Commission (NCC) and the Senate of the Federal Republic of Nigeria.

Is Etisalat now 9mobile?

9mobile completes transition from ‘Etisalat Nigeria’ with appointment of its first CEO. Nigerian mobile network provider, 9mobile, has completed its age-long transition from Etisalat Nigeria with the appointment of Alan Sinfield as its first substantive CEO.

Who owns 9mobile now?

Teleology Holdings
9mobile/Parent organizations

In November 2018, Teleology Holdings completed the acquisition of 9mobile with a reported sum of $251 million.

Why was Etisalat changed to 9Mobile?

At end of a crucial management meeting of the telecom firm in Lagos, 9Mobile was unanimously adopted as a new brand name. The decision followed Emirates Telecommunications Group’s withdrawal from further involvement in the ownership of the Nigerian subsidiary.

How much is 9Mobile WiFi in Nigeria?

1. 9Mobile 4G LTE MiFi: It is a 4G LTE WiFi-modem that costs #18,800.

What is Etisalat worth?

Etisalat Group is one of the world’s leading telecom groups in emerging markets. With consolidated net revenues at AED 52.2 billion and consolidated net profit of AED 8.7 billion for 2019, its high credit ratings reflect the company’s strong balance sheet and proven long-term performance.