Connect with us

Science & Technology

Teleology Pulls Out of 9mobile

Published

on

Teleology Holdings, the new owners of 9mobile, have withdrawn from further participation in the 9mobile takeover. Teleology acquired 9mobile, known then as Etisalat, in November 2018 — about eight months after it made an initial $500million non-refundable deposit to acquire the telco, and a cumulative 10 months after the takeover was billed to have been finalised.

Etisalat, the fourth of Nigeria’s GSM service providers, began trading as ‘9mobile’ following the financial consequences of defaulting in the servicing of a syndicated loan of $1.2billion owed a consortium of 13 Nigerian banks. In the aftermath, its erstwhile technical partners Etisalat exited the business and requested that the use of the ‘Etisalat’ brand name by the company be discontinued forthwith.

Teleology Holdings, a special purpose vehicle comprising telecom industry veterans and led by Adrian Wood, pioneer Chief Executive Officer of MTN Nigeria, eventually won the final bid — ahead of Airtel, Globacom, Smile, Helios. The Australian, credited with building a very good business model, has remained in the Nigerian business environment since leaving MTN in November 2004.

Teleology Holdings’ successful bid for 9mobile was due largely to the quality of its proposed seven-man management team led by Wood and was approved by the NCC Technical Evaluation Committee, the 13-member bank lending syndicate as well as the acquisition finance provider, Afreximbank.

Teleology Holdings has become increasingly uncomfortable with actions taken outside of the agreed business plan, since the takeover, most important of which is how it has been blocked from concluding a management services contract with the local joint venture, Teleology Nigeria Limited. The management services contract would have enabled Teleology Holdings and its team of experts oversee the implementation of its elaborate business plans including funding proposals — but that so far been impossible.

Wood is understood to have resigned from the boards of Emerging Markets Telecommunication Services (trading as 9mobile) as well as Teleology Nigeria Limited and has already communicated his current disenchantment with the 9Mobile project to his confidants in Teleology.

“Fifteen Teleology experts have worked since June 2017 on detailed 9mobile turnaround planning, development strategies and financial restructuring,” one quoted him as saying on Monday.

“This included lining up more than US$500 million fresh direct foreign investment from international institutions. 9mobile is an exciting opportunity to build a revolutionary mobile network that could be the pride of Nigeria. Unfortunately, it appears that we will not be able to participate. We now must stand down from further work on the 9mobile project.”

Teleology Holdings Ltd will be seeking to exit its shareholding in the local joint venture Teleology Nigeria Limited, which will be required to change its name. The development may further compound the woes of the struggling 9mobile operation.

In a pre-disconnection notice advertised by the Nigerian Communications Commission (NCC)) on December 18, HIS, the infrastructure services provider which hosts a majority of 9mobile’s base stations, was granted permission to disconnect 9mobile and other debtor telecom operators within a 10-day ultimatum, ostensibly on account of 9mobile’s indebtedness. Should this disconnection take place,  subscribers on 9mobile’s network would have been effectively shut out completely from the telecommunications network and would be unable to make or receive calls.

9Mobile has been at the receiving end of considerable customer attrition since its financial troubles became public in 2017.

From more than 22million customers in its heyday in October 2016, for instance, the network had just a little over 15million active subscribers in November 2018, according to NCC data, and has consistently lost customers with each passing month.

Share Cheers!
  • 2
    Shares

Join us today, become a news contributor to The Liberty Times™ Put on your story-telling hat and send a story and Liberate your mind today! TOGETHER WE SPEAK, and THE WORLD LISTENS! Send your stories to email: admin@tlt.com.ng Use the hashtag #TLTNEWS247 | tweet to @TLTNEWS247 | fb messenger www.m.me/TLTNEWS247

Advertisement
Comments

Science & Technology

TCN vows to deliver 20,000Mw by 2021

Published

on

The Managing Director, Transmission Company of Nigeria (TCN), Mallam Usman Gur-Mohammed said the company is on track to deliver its 20,000 megawatts (Mw) target by 2021.

Speaking yesterday in Kano, he said President Muhammadu Buhari has done a lot of work to support the company in the areas of transmission and expansion programme, which brought about the transmission network from 5,000 Mw in 2017 to 8,100 Mw it currently is.

According to him, the firm has achieved the level that has never been achieved in the history of the power sector. “As l speak to you now, our frequency control is the best in West Africa. This has never happened; we focus mostly on expansion, not looking at the quality of the power. But now we are not focusing on expansion and the quality of the power,” he said.

He spoke while fielding questions from newsmen shortly after inaugurating the 1×60 MVA 132/33KV transformer at Dan’agundi transmission substation Kano.

Share Cheers!
Continue Reading

Politics

Nigerians react to Atiku’s plan to privatise NNPC

Published

on

Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar has said that the National Petroleum Corporation (NNPC) will be privatised if elected as president.

Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar

According to Atiku, this is expected to stimulate economic growth. He added that since his vision is to make Nigeria a $1 trillion economy by 2023, he would equally privatise power and other critical national assets.

Addressing the business community with his running mate, Peter Obi, during a conference on “Getting Nigeria’s Economy Working: A Pragmatic Approach,” in Lagos, he argued that NNPC and the power sector must be disbanded through privatisation if they must be efficient.

He assured of his commitment to privatising the two national assets and others “even if they will kill me.”

The former Vice President spoke against the argument that the oil and gas sector might turn out to be the economy’s Achilles’ heel, in view of entrenched corruption and drain on national resources.

“Privatising NNPC would be to our advantage. We are not going to lose anything, but we will rather gain a lot,” he said.

Besides, he added, if former President Olusegun Obasanjo had accepted his suggestion in 1999 and 2007, challenges in the power sector would have been fixed since 2005.

“Nigeria would have been self-dependent on power since then because it does not need a centralised transmission plan, which is very costly, but a decentralised electricity system where each state or region is powered from the source of energy prevalent in the region.

“But the former President preferred the gas turbines, which I noted, was a long-term system, as it is now obvious.”

He lamented the high rate of unemployment in the country, especially among the youth, saying: “Youth unemployment is a time bomb, and very scary,” a situation he said, was responsible for increasing crime and criminal activities in the country.

“The rate of unemployment at 23.1 per cent is the highest ever recorded in the history of Nigeria. The situation is worse for women and young people – with unemployment in the youth population at 33 per cent by 2050, 40 per cent of the world’s poorest people will be in just two countries: Democratic Republic of Congo and Nigeria. We must take action to avert that.”

He insisted that creating jobs would not be a challenge, as he had already employed between 45 to 50,000 people in his private companies.

He said he would invest heavily in information and communication technology to fight corruption, and automate government processes to reduce human interface with money, while also instituting greater transparency and efficiency in governance.

Corroborating his views, Obi noted that there is nowhere else in the world where fighting corruption is an economic policy.

“The country is more corrupt today than it was yesterday. Once the principal is not corrupt, you would have reduced corruption by at least 70 per cent. If governance becomes automated, all leakages in ministries, departments, agencies (MDAs) will be eliminated,” he stated.

On restructuring, Atiku said he was supporting the move to ensure a reduction in the size of government, insisting, “I will ensure that I hand over some responsibilities to other components of government. That is why I am impatient to see that the country is restructured.”

Share Cheers!
  • 3
    Shares
Continue Reading

Science & Technology

Apple releases iPhone battery smart case, last up to 39 hours

Published

on

Apple extends iPhone battery life up to 39 hours with the smart case

 

The battery Apple ships inside each new iPhone is big enough to just about get you through the day under normal usage conditions. For most people, that’s good enough, but you need access to a charger every night.

If you require longer battery life there are many unofficial options, but now there’s also an official one in the form of a Smart Battery Case.

As MacRumors reports, Apple just rolled out a new battery case for the iPhone XS$999.99 at Verizon Wireless, XS Max, and the iPhone XR$749.00 at Apple Store.

The case will cost you $129 regardless of the model, with white and black color options available. Inside the case is a soft microfiber lining to protect your phone, while the silicon exterior is described as a “silky, soft-touch finish.”

Placing your iPhone inside the case is easy thanks to a soft elastomer hinge.

How much the case extends battery life depends on which iPhone you own. iPhone XS owners get up to 33 hours talk time, 25 hours video playback, and 21 hours internet use.

iPhone XS Max owners will enjoy 37 hours talk, 25 hours video, and 20 hours internet, but it’s iPhone XR owners who get the biggest boost from the case.

Your XR will get 39 hours talk time, 27 hours of video, and 22 hours of internet.

As this is an official case, Apple ensured it is compatible with Qi-certified chargers as well as being charged faster if a USB-PD compatible charger is used.

All Lightning accessories are supported and the intelligent battery status displayed on your iPhone will recognize and take into account the charge left in the case automatically.

All three versions of the Smart Battery Case are available to order from Apple’s online store with delivery in one business day. Apple’s retail stores should also be receiving stock.

Share Cheers!
  • 2
    Shares
Continue Reading

Science & Technology

NCC to intervene in 9mobile crisis

Published

on

The Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, said it has taken steps to address the crisis rocking 9mobile in the interest of subscribers, investors and the Nigerian economy. He said the NCC would do everything possible to ensure that the issue is resolved amicably.

Danbatta explained that although the issue between Teleology Holdings and Teleology Nigeria was yet to reach the NCC for mediation, he, however, said proactive steps had been taken by the Commission, in line with its regulatory mandate to avert destabilisation of the telecoms industry.

Danbatta said the commission had already made some moves to address the situation in the interest of 9mobile subscribers and the telecoms industry.

“The bone of contention is between Teleology Holdings Limited and Teleology Nigeria, over some disagreements, but as a regulator that is both customer and investor-centric, we have set up some measures to resolve the issue between the two parties.

“We need stability in the telecoms industry and we will do everything possible to protect the interest of both the 9mobile subscribers and its investors and ensure there is no disruption of services,” Danbatta said.

Industry stakeholders who are keenly following the development at 9mobile advised NCC not to allow Teleology Holdings to pull out of the deal.

“Teleology must not be allowed to truncate the 9mobile transition deal. It must complete what it started and deliver on the promises he made to Nigerians when it rolled out its business model on how to manage 9mobile and bring it back to profitability within few years of taking over,” an industry expert who did not want his name on print said.

Teleology Holdings Limited, in a statement, had alleged that Teleology Nigeria Limited had declined to execute a management services contract with the former, which led to its pulling out of the deal last week. According to the statement, “Such a management contract is the typical arrangement with which multinationals operate in Nigeria and is the template with which EMTS engaged Etisalat prior to its (Etisalat) departure.

“It is the same template with which Bharti Airtel is engaged with its local joint venture, Airtel Nigeria and with which MTN Group of South Africa is engaged with its local joint venture, MTN Nigeria.

“It is on the basis of such management agreements that such multinationals are legally able to impact on the operations of the local operator including sourcing of relevant expertise and financing as well as paying dividends to offshore shareholders.”

Share Cheers!
Continue Reading
Advertisement
Opinions expressed by our Contributors are their own. We have robust systems and procedures in place to check that all articles submitted and published are unique and exclusive to The Liberty Times™ Nigeria. If you need to flag any content as abusive, CLICK HERE to email us. LEARN MORE about becoming a News Contributor.

Advertisement
Advertisement

Upcoming Events

  1. The Nigerian Presidential and National Assembly elections: General Elections

    February 16
Advertisement INEC
Advertisement

@NORTHERN.FINEST

  • #Cute .

#kano #Nigeria #abuja #arewapeople #arewa #arewaweddings #arewabride #hausa #zazzau #sokoto #katsina #zamfara #kebbi #bauchi
#abujawedding #slayqueen
  • #Cute .

#kano #Nigeria #abuja #arewapeople #arewa #arewaweddings #arewabride #hausa #zazzau #sokoto #katsina #zamfara #kebbi #bauchi
#abujawedding #slayqueen
  • Be sure to reach your young & vibrant audience with a repost from my handle.. Don't miss this opportunity! We can also create very attractive graphic design for you ads. This offer is for limited time only!!! #kano #Nigeria #abuja #arewapeople #arewa #arewaweddings #arewabride #hausa #zazzau #sokoto #katsina #zamfara #kebbi #bauchi
#abujawedding #slayqueen #northernfinest
  • #kano #Nigeria #abuja #arewapeople #arewa #arewaweddings #arewabride #hausa #zazzau #sokoto #katsina #zamfara #kebbi #bauchi
#abujawedding #slayqueen

Follow Me!

Advertisement

Tags cloud

@TLTNEWS247