Etisalat Officially Announces New Brand Name

Etisalat Nigeria has formally announced its change of name to 9mobile, its successor company, Emerging Markets Telecommunication Services Limited, EMTS, said on Tuesday.

The announcement comes days after THE WHISTLER reported that the embattled telecom company adopted the change of name after its parent company Emirates Telecommunications Group (Etisalat Group) withdrew further involvement in the ownership of the Nigerian subsidiary.

The withdrawal was in the wake of the debt crisis rocking the company. The telecom firm was said to have collected a loan of about $1.2 billion (N377.4 billion) in 2013 from a consortium of 13 Nigerian banks and was “unable” to set-up a repayment strategy.

“Emerging Markets Telecommunication Services Limited (EMTS), which previously traded as ‘Etisalat Nigeria’ wishes to inform its over 20 million subscribers, government, regulatory agencies and all relevant stakeholder groups that the telecommunication company has changed its name to 9mobile as a further testament of our unwavering commitment to ensuring business continuity as Nigeria’s fourth largest telecom operator,” the company announced in a statement.

Boye Olusanya, the company’s new Chief Executive Officer, said the new trading name, 9mobile, represented the company’s “0809ja heritage,” adding that the telecom firm remains true to the same values it was built.

“A strong and resilient Nigerian spirit continues to reside in us, uniting us with our subscribers, confident that you will continue to believe in our new brand, which strongly reflects our innate creativity and youthfulness,” he said.

“Our confidence in our ability to continue to make this happen is bolstered by the sheer determination, commitment and passion of our people to do more; and continue delivering excellent service.”

The company also announced plans to migrate to its new brand over the next few months.

“We will continue to innovate, support, and empower you to do more, whether as an individual or a business,” he added.

Until June 15, the United Arab Emirates, UAE, group was a major shareholder in Etisalat Nigeria, along with United Arab Emirates Sovereign Wealth Fund through Mubadala Development Company, Abu Dhabi.

The two affiliates controlled a combined 85 per cent equity in the telecom firm, with Myacinth holding 15 per cent stake through Emerging Markets Telecommunications Services, EMTS Holding BV, owned by former United Bank for Africa, UBA, Chairman, Hakeem Bello-Osagie.

However, Mr Bello-Osagie’s resignation and the withdrawal of support from its major investors, left the company with no other choice than to change its management and brand name.

The company is said to have over 20 million subscribers in Nigeria