Is Etisalat now 9Mobile? For many years, Etisalat Nigeria has been at the forefront of emerging market telecommunications services in Nigeria. The company quickly gained popularity and boasted millions of subscribers across Nigeria.
However, this popularity was tested in 2017, when Etisalat Nigeria experienced financial difficulties that threatened to cause a significant disruption in Nigeria’s telecommunications sector. This blog post examines the company’s changes as it transitions.
Etisalat International and the Nigerian Market
Etisalat Nigeria was founded in 2008, approximately five years after the Nigerian government liberalized the telecoms business for private investors. The company entered the market with the goal of leading Nigeria’s telecoms industry by delivering cutting-edge technology and great customer service.
Etisalat International, a multinational telecommunications company with operations in numerous nations throughout Africa, Asia, and the Middle East, owned a portion of Etisalat Nigeria.
Emerging Markets Telecommunications Services (EMTS), MyaCynth, a Nigerian-registered investment company, and Nigeria’s Mubadala Development business jointly owned the remaining Etisalat Nigeria shares.
Etisalat Nigeria’s Financial Problems
Etisalat Nigeria ran into financial difficulties in 2017 as a result of a dispute with a consortium of Nigerian banks.
The consortium provided Etisalat Nigeria with a $1.2 billion loan for network development and upgrades. However, Etisalat Nigeria faced issues servicing the facility, claiming economic downturns and currency depreciation as factors affecting its ability to meet repayment obligations.
The situation became more problematic when Etisalat International refused to invest additional money into its Nigerian business, prompting creditor banks to intervene and place the company under interim administration.
Rebranding as 9Mobile
Following the crisis, Etisalat Nigeria made various modifications, including changing its brand name to 9mobile.
A group of banks and other stakeholders led these changes, with Boye Olusanya, a seasoned veteran of the telecommunications industry, taking over as 9Mobile’s new CEO.
The modifications prompted the formation of a new board of directors. This organizational restructure resulted in the retention of a major portion of Etisalat Nigeria’s workforce, as well as the adoption of a new brand statement emphasizing great customer service delivery, a dedication to innovation, and customer pleasure.
The New 9Mobile Brand
The change of brand name from Etisalat Nigeria to 9mobile was a critical milestone for the company as it tried to establish a new path and solidify its position in the Nigerian market.
As a part of Emerging Markets Telecom Services, 9mobile was eager to use its financial and operational resources to stay competitive in the Nigerian telecoms market.
To do this, the company attempted to solve important issues that had previously impacted its operations, including customer happiness, market share growth, and network expansion.
With its new corporate identity, 9mobile intends to appeal to Nigerian consumers, particularly the younger and more tech-savvy generations, who see telecom companies as accelerators of digital commerce and social connection.
The Impact of the Change
The change from Etisalat Nigeria to 9mobile was not entirely unexpected, considering the financial and other challenges faced by the former. However, the change caused some confusion among the company’s subscribers, who were unsure if the new brand name would impact the quality of services they received.
Following the change, 9mobile undertook several initiatives to reassure its subscribers about the continuity of service and quality of support from the new 9mobile team.
Conclusion
The name change from Etisalat Nigeria to 9Mobile was a watershed moment in the Nigerian telecoms market. The adjustment came after financial concerns endangered the continuation of Etisalat Nigeria’s services.
It was led by a coalition of banks and stakeholders, with Boye Olusanya taking over as 9Mobile’s new CEO. The new 9mobile brand identity shows the company’s commitment to customer pleasure, innovation, and operational efficiency, creating hope for a positive future in the Nigerian market.
