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Latest MVNO Licensee, Zegtel Plans $21.8m Investment in Partnership with British Firm

Latest MVNO Licensee, Zegtel Plans $21.8m Investment in Partnership with British Firm

Zegtel, a virtual network operator (MVNO), is the latest to join the train of the MVNO business in Nigeria with a promise to invest $21.8 million over the next five years to expand mobile connectivity across the country.

The telco said this investment aims to bridge the digital gap and deliver affordable connectivity to millions of Nigerians who now lack access to telecom services.

The MVNO’s ambitious plan comes as Nigeria, like many other developing African countries, works to improve its digital infrastructure, particularly its undersea cables, and increase access to telecom services.

Zegtel Executive Chairman, Professor Victor Izegbu, said: “We believe that access to reliable telecoms is a basic human right in today’s interconnected world. Our $21.8 million investment is a testament to our dedication to bridging the digital divide and ensuring that every Nigerian has the opportunity to connect, communicate, and thrive.”

He added: “In other developed markets, subscribers enjoy an extensive array of value-added services on their mobile networks. Unfortunately, in Nigeria, subscribers are mostly exposed to just the basic offering of voice and data. Zegtel is set to change that narrative with our product offerings.

Prof. Victor Izegbu, together with fellow directors; Mr Olumide Oladapo, Princess Juliana Edewor, Dr Alban Okonkwo, and Mr Edozie Izegbu, have outlined the strategic roadmap for the new MVNO company. It has an agreement with a renowned British MVNO management company to roll out virtual mobile telephony over the next six months.

Here’s a closer look at what Zegtel’s investment promises:

  • Focus on Underserved Areas: Zegtel plans to target geographically or economically disadvantaged areas where major Mobile Network Operators (MNOs) haven’t prioritized infrastructure development.
  • Enhanced Services: The company intends to go beyond basic voice and data plans, offering value-added services currently unavailable in the Nigerian market. The specifics of these offerings remain undisclosed, but they could potentially include mobile banking, telehealth solutions, or educational resources.
  • Leveraging Existing Infrastructure: As an MVNO, Zegtel will utilize the infrastructure of established MNOs, allowing them to offer services without the massive upfront costs of building their own network.

This investment by Zegtel is part of a larger trend in Nigeria’s telecom sector. The Nigerian Communications Commission (NCC) recently issued licenses to over 30 MVNOs, aiming to foster competition and encourage innovation in the mobile market.

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