Etisalat Brand Exit Nigeria in Three Weeks

THE telecommunications brand name, Etisalat will no longer exist in the Nigerian telecoms industry in the next three weeks.
This is as a result of the shares restructuring of Etisalat Nigeria, which forced the Abu Dhabi owners of the brand out of the management board.
Chief Executive Officer of Etisalat International, Hatem Dowidar told Reuters on Monday, that the new board has only three weeks left to use the brand name, Etisalat.
He said that Etisalat has terminated its management agreement with its Nigerian arm and given the business time to phase out the brand in Nigeria.
He said in an interview that all UAE shareholders of Etisalat Nigeria have exited the company and have left the board and management saying that discussions were on-going with Etisalat Nigeria to provide technical support.
Etisalat Group is one of the world’s leading telecom groups in emerging markets. Etisalat’s current market cap is over AED 152 billion (42 billion USD). With reported net revenues of AED 52.4 billion and net profit of AED 8.4 billion for 2016, Etisalat ranks amongst the most profitable telecom groups in the world. Its high credit ratings at AA-/Aa3 reflect the company’s strong balance sheet and proven long-term performance.
Headquartered in Abu Dhabi, Etisalat was established four decades ago in the UAE as the country’s first telecommunications service provider. An international blue-chip organisation, Etisalat Group provides innovative solutions and services to 162 million subscribers in 16 countries across the Middle East, Asia and Africa.
Etisalat Group’s mission is to provide a best-in-class total customer experience domestically and internationally, deliver attractive returns to shareholders while investing in the long-term future of the company, and supporting economic development in all the markets we operate in.
Aspiring to be the most admired telecom group in emerging markets, Etisalat strives to consistently foster innovation and deliver first-in-market technologies wherever it operates.
This is evidenced by its expeditionary trials of 5G services in the UAE – the first-ever in the region – including coordinating the development, design and deployment of future ICT platforms for fifth generation mobile broadband. Abu Dhabi is the first capital in the world to be fully connected and has the highest speed fibre optic on the planet.
Such diverse technological expertise has helped Etisalat Group capture significant market share as it expands across Africa, Asia and the Middle East, most notably in Egypt, Nigeria and Saudi Arabia, where the introduction of innovative mobile broadband services has changed market dynamics and provided affordable mobile internet access for millions of people.
Etisalat Group’s performance and services have been widely recognised by the industry. It has won many major awards, including the prestigious annual GSMA’s Global Mobile Awards for the past four years.
By Isaiah Erhiawarien, West Africa with agency report

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