Banks and telcos in battle.

Banks and telcos
do battle

Quest for mobile banking
domination continues.

Friday, May 25th

More countries Nigeria

NCC delays 9mobile sale

NCC delays 9mobile sale

The Nigerian Communications Commission (NCC) has described the process involved in the sale of 9mobile as inconclusive and said it warrants further extension.

"We just need to wait for another 30 to 40 days to have clarity on where to go to," said Sunday Dare, NCC's Executive Commissioner for Stakeholder Management.

According to Dare, the NCC had not been notified by 9mobile's interim board that a winner has emerged in the sale being undertaken by Barclays Africa.

"It meant that the process has not been completed. The interim board of 9mobile is yet to communicate to the NCC and that's because the process is still ongoing. There are two regulators involved in the issue, the financial and telecoms regulator. Unless the final process is complete, the licensing process doesn't really kick in," he said.

Dare assured subscribers and industry stakeholders that the Central Bank of Nigeria (CBN) and the NCC are working together to see that 9mobile is saved.

"We have saved jobs and saved 9mobile from crashing and we kept up other creditors that have been working with them," he added.

The refusal of Barclays Africa, 9mobile's interim board, NCC, CBN and others to make public statements has resulted in conflicting reports.

"Because of all these unconfirmed reports, subscriber base of 9mobile dropped from 21 million to 17 million," said Dare.

Reports have named Teleology Holdings as the preferred bidder, while others have suggested Smile Telecoms Holdings, which operates in Nigeria, Tanzania, Uganda, Congo DR and South Africa, is the reserve bidder.

ALSO ON ITWEB AFRICA

Lighting the way forward with K8 Published on 18 May 2018

With the fully integrated business view and information provided by the newly implemented K8 system, the Lighting Warehouse was able to get closer to its customers, build profits and manage margins in a much easier and more streamlined manner.

African start-up uses blockchain to disrupt music's value chain Published on 10 May 2018

Why shokoCAST founder believes platform has the mettle to secure early traction in an ultra-competitive market.

Nigeria to scout broadband investors at 2018 ITU Telecom World Published on 21 May 2018

NCC outlines strategy ahead of event scheduled for 10-13 September in Durban, South Africa.