Telecom operator, 9mobile has announced an investment of $220m in the expansion of its 4G LTEto more Nigerian cities as part of efforts to deepen broadband penetration in the country.
The company at a press conference in Lagos on Thursday said it had added 10 new cities and towns across Nigeria to its 4G network and upgraded LTE services in existing six cities.
Speaking on the development, the Ag. Managing Director, Stephane Beuvelet, explained that the investment had increased the number of cities and towns in Nigeria that now enjoy quality service with the mass deployment of 4G technology to 16.
According to him, the 4G LTE expansion drive will be implemented in Aba, Abuja, Nasarawa, Calabar, Enugu, Kaduna, Kano, Lagos, Niger, Onitsha, Owerri, Port Harcourt, Sokoto, Uyo, Aba and Ogun.
He stated that the company planned to cover the entire country in the next five years.
Beuvelet identified the unique benefits available to customers with the 9mobile 4G LTE, including a low latency rate for high-speed connectivity and planned redundancy to minimise downtime impact.
He further assured of sustained investments into the network’s general infrastructure base to guarantee best-in-class experience for its customers.
READ ALSO: 9mobile Gets $230 million Loan from AFC
9mobile, currently Nigeria’s 4th largest telecoms provider had a very rough 2019 as it continues to suffer from the effects of its financial troubles.
In June 2017, 9mobile (then Etisalat) ran into financial difficulties after failing to meet the requirements of a $1.2 billion loan it obtained in 2013 from a consortium of 13 Nigerian banks. The banks included Guaranty Trust Bank and Access Bank. Although 9mobile, later repaid $251 million of the loan, but the company is still struggling to win back its market.
Due to the uncertainty surrounding the survival of 9mobile during the height of the crisis and the change of name from Etisalat to 9mobile, many of its initial subscribers lost trust and moved on. 9mobile lost over 8 million subscribers in the last 3 years as its subscriber base stood at 8,068,175 as at December 2019
However, recent reports show signs of resuscitation as the telecom registered the highest number of incoming ports from other telecoms.
Most importantly, in August 2019, the telecom company obtained a $230million loan facility from the Africa Finance Corporation (AFC) to help re-position its brand after its Financial troubles.
Yetunde Adegoke
