Nigeria has been ranked as the third wealthiest country in Africa, coming behind South Africa and Egypt by latest economic performance ratings. A new report that derives from a research conducted by New World Wealth, a South Africa-based global market research group that specializes in ratings, surveys, country reports and wealth statistics, estimated that the […]
Nigerian‘s frontline telecoms company, Globacom, and China’s Huawei Technologies Co Ltd are laying an undersea cable that will provide high-speed internet to oil platforms in the country’s Niger Delta region. A news report sourced from Reuters indicated that the 850 kilometre-long (528 miles) cable, connecting South Western commercial capital, Lagos with the Delta region, would […]
The Nigerian Communications Commission, the nation’s telecoms industry regulator, has confirmed the payment of N165 billion by the MTN, Nigeria’s largest telecoms operator by subscriber base. The payment is part of the N330 billion fine imposed on the telco in August 2015 following its failure to disconnect SIM cards not properly registered. The Nigerian authorities […]
Backlays Africa, the financial adviser to the consortium of banks owed $1.2 billion dollars by 9mobile (formerly Etisalat), has formally communicated Teleology Holdings Limited, informing the company that it is the preferred bidder for the 9mobile sale. Barclays Africa in the letter sent to Teleology Holdings on February 21, directed Teleology Holdings to make a […]
Leading telecoms operator, MTN Group Limited, is reported to be putting all arrangements together to raise about N153bn ($500m) from the sale of shares in its Nigerian business during the first half of this year.