Our reporter
On Sunday, telecommunications company 9mobile announced its acquisition by a new investor, LH Telecoms Limited.
The acquisition was approved by the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC), as well as the African Export-Import Bank (AFREXIM), which acted as 9mobile’s senior lender in May 2023.
This strategic acquisition involved the issuance of new shares, granting LH Telecoms Limited a majority stake of 95.5% in 9mobile. The move signifies a significant change in control, aimed at revitalizing the telecom company through the injection of fresh capital from the new investors.
Following the acquisition, a new Board of Directors has been constituted to steer 9mobile towards a promising future. The Board will be chaired by Thomas Etuh, a distinguished entrepreneur with over 36 years of experience across various strategic sectors in the African economy.
Who is Thomas Etuh?
Thomas Etuh, the newly appointed Chairman of the Board, is renowned for his versatility and expertise in numerous industries, including agriculture, fertilizer production, mining, banking, telecommunications, power, and aviation. He is celebrated for his leadership prowess and his ability to drive corporate success by establishing and maintaining clear objectives and expectations.
Etuh’s impressive track record includes founding the Tak Group of Companies, where he demonstrated his entrepreneurial spirit and strategic vision. His extensive experience and commitment to excellence position him as a valuable asset to 9mobile as it embarks on this new chapter.
With Etuh at the helm, 9mobile is poised to leverage his vast experience to enhance its operational capabilities and expand its market presence. The new Board, under Etuh’s leadership, aims to implement robust strategies that will solidify 9mobile’s position as a leading player in the Nigerian telecommunications industry.
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