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Teleology acquires 9mobile, to partner Safaricom for efficient services

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Teleology Holdings has finally acquired 9mobile network.

The firm, which was the preferred bidder for the arrangement, promised to partner Safaricom of Kenya to deliver efficient services.

Teleology’s Director and pioneer Managing Director of MTN Nigeria, Adrian Wood, disclosed this yesterday,

The firm beat the March 22 deadline for the payment of $50million non-refundable fee for the possession.

The amount was paid from Keystone Bank, with United Capital Trustees Ltd and United Bank for Africa (UBA) Plc as beneficiaries.

According to the firm, it signed the Share Purchase Agreement (SPA) and other contractual documents after several meetings pertaining to the acquisition.

Wood said: “9mobile is transiting into a new phase that would be defined by optimal value delivery.”

He justified Teleology’s alliance with Safaricom, the largest network operator in East Africa, which, he said, is famous for its global ‘mpesa’ mobile financial services system.

The system advances financial inclusion and supports the network with the highest operating efficiencies in Africa.

He said Teleology would very likely herald a new era of intense competition and jostle for market share among the operators.

Wood added that the firm has set out a 10-point plan to aggregate its mission and how it would turn around the network.

He disclosed plans to double the 9mobile network with new 3G/4G specific cell sites, as well as several thousands of kilometers of fiber optic cable across the country.

He added that 9mobile network would be optimised for high speed and high capacity data, including imaging, video, games, music, IPTV and more.

Meanwhile, the NCC and the Edo State government have pledged to work together to improve infrastructure and provide world-class telecoms and ICT facilities to its residents.

They made the commitment at a meeting between the commission and Governor Godwin Obaseki in Abuja.

The Executive Commissioner for Stakeholder Management, Sunday Dare, represented the NCC.

Also, the Executive Secretary of the USPF, Ayuba Shuaibu, promised to support the College of Education in Benin City, and the Institute of Continuing Education in Abudu, to establish computer laboratory and optic fiber connectivity in the institutions.


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