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AFC Grants $230M to 9Mobile, Expanding Their Operations in Nigeria


TechInAfrica – Formerly known as Etisalat Nigeria, 9Mobile is a Nigeria-based telecommunications company offering relatively reliable data plans, internet services, as well as ‘superfast internet’ as the company would like to claim. Recently, the Africa Finance Corporation (AFC) has granted $230 million loan facility to 9Mobile as a significance towards bringing long-term growth plans inside Nigeria.

During the weekend, the AFC announced the approval of the notion; promoting cost efficiency, innovative product development, and network sustainability in order to carve yet another path towards the company’s overall growth. The grant is reserved via a representation of 9mobile—more commonly renowned as the Board and Management of Emerging Markets Telecommunication Services Limited (or EMTS for short)

AFC, in addition, stated:

Africa Finance Corporation is pleased to inform Emerging Markets Telecommunication Services that it has received full Board approval to support the turnaround strategy of EMTS through a $230 million super senior debt investment.

Alhaji Ado Bayero, the Board Chair, asserted that they’re elated to see the EMTS’ effort to increase profitability and productivity finally paid off. Moreover, a prestigious Pan-African financial institution such as AFC took notice of this and had decided the grant the company needs.

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Bayero also commented:

We can only express gratitude to the AFC for approving this loan facility that would not only help our business sustainability but also grow it to serve our teeming and loyal customers in Nigeria better.

Furthermore, Bayero said that the company have reviewed their overall operational, regulatory, financial, as well as technical structures to better suit the long-term needs of Nigerians using their services. He also added that the company will stay on its path towards manifesting aggressive enhancement of network capacity to provide guaranteed value to customers.

Alongside this notion, it’s implied that better days are coming for both the users and the developers of 9mobile—claiming every lost ground in the market within the coming months.



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Written by Charis Chrisna

Writer, author, part-time fallacious wanderer, and an avid Hotline Miami lover.

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