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Tag: Etisalat

  • Etisalat boost Gbagada Hospital

    Etisalat boost Gbagada Hospital

    As part of its commitment to the development of the nation’s health sector, Etisalat Nigeria recently donated a set of computers to General Hospital, Gbagada, Lagos.

    Speaking at the handover ceremony, Director, Regulatory and CSR, Etisalat Nigeria, Ikenna Ikeme, said the move was in furtherance of the company’s commitment to continuously support efforts that improve access to quality healthcare for Nigerians.

    “Education, Health and Environment are the three pillars on which our Corporate Social Responsibility drive rests. We are happy to partner with the Lagos State Government in using technology to advance the operations of this hospital because this initiative aligns strongly with our belief that innovation can be used to transform anything including healthcare.  The computers that we have donated to General Hospital, Gbagada will go a long way in impacting on service efficiency in key departments such as Medical records, Procurement, HR/Administration, Pathology, Audit and Accounts,” he said.

    Receiving the equipment, the Medical Director, Gbagada General Hospital, Dr. Tayo Lawal, commended Etisalat for the support.

    “We thank Etisalat for the donation and we are very happy to receive these computers as they would go a long way in making our work easier and our staff will be further encouraged by the gesture.”

    Manager, Corporate Social Responsibility, Etisalat Nigeria, Oyetola Oduyemi, said the computers will assist the hospital staff in becoming more efficient and productive as well as support the drive towards digitalising its processes.

  • Etisalat kicks as firm demands N2.2b for alleged copyright

    Etisalat kicks as firm demands N2.2b for alleged copyright

    A mobile finance technology firm, V-Exchange Limited, has accused mobile network service provider Etisalat of alleged copyright infringement.

    The company is, therefore, demanding N2 billion from the telco as compensation for the alleged infringement on its intellectual property.

    But Etisalat Nigeria has denied any infringement on the intellectual property of V-Exchange Limited.

    V-Exchange, which specialises in providing instant finance solutions to individuals and corporate entities via intelligent data-driven platform, claimed that they developed ‘Kwik Cash’ loan service which Etisalat recently offered to its customers, alleging that the mobile service provider imitated the solution.

    Addressing a press conference in Lagos, co-founder of V-Exchange Samuel Ajiboyede claimed that last November 23, he, with the Chief Executive Officer (CEO) Mrs. Kemi Ayinde met with representatives of Etisalat over the company’s product for partnership for mutual benefit.

    Ajiboyede said at the meeting, the loan service product was showcased to Etisalat officials who asked to be furnished with more details, which V-Exchange supplied.

    Since they already obtained the patent for the product, he claimed that Etisalat officials advised them to obtain the Nigeria Communications Commission (NCC) Short Code being the only thing remaining for a deal to be sealed between the two entities.

    Ajiboyede stated that Etisalat, however, declined its request for a Memorandum of Understanding (MoU) to enable his company acquire a Value Added Service (VAS) licence to get the Short Code approval from NCC, and lending licence.

    He said the deal was already being closed with a financial institution that would take charge of the lending part of the product when it heard that Etisalat had launched the instant loan service without its knowledge and approval.

    In a letter written through its lawyer, Mr Monday Ubani of the law firm of Ubani and Co, to the Chief Executive Officer of Etisalat Nigeria, dated January 10, 2017,  V-Exchange is demanding N2 billion as compensation for the alleged copyright infringement and N2 million as account profit.

    ‘’ Our client has tested your product on several customers of your company and confirmed that the said product was the exact product for which it has exclusive right

    ‘’That this abysmal unlawful conduct of your company as highlighted above has infringed our client’s products for which copyright subsisted despite the caveat by known owners being ‘our client’ that no part of this shall be reproduced or copied in any material form with its prior authorisation.

    ‘’Moreover, it is arguable that the product reproduced in writing by your company was exact replica of our client’s products which were earlier in time protected by the copyright law.

    “In conclusion, let it be stated that aside the civil action for infringement of our client’s copyright, we shall be constrained to simultaneously instigate and initiate a criminal action with its attendant legal consequences against your company for exploiting our client’s copyright as provided by the act.

    “Therefore your company is hereby warned very sternly to refrain forthwith from further infringement of our client’s by itself or through its agents or privies and monetary restitution in the sums demanded above of its unlawful exploitation of our client’s products which copyright subsisted to mitigate the loss thus far.”

    Etisalat, however, denied any infringement on V-Exchange’s purported patent and insisted it cannot pay compensation for an infringement that does not exist.

    A letter signed by Etisalat Head, Legal Operations and Litigation, Vincent Eromosele and Manager, Legal Services, Chimeka Garricks, dated February 21, this year, acknowledged having had discussion with V-Exchange over its product but denied infringement of any patent belonging to the firm.

    Etisalat claimed that ‘KwikCash’ is owned and operated by a licensed financial institution and that it followed due process in acquiring the right to use the product on its network. “The institution had secured all relevant approvals from the NCC and the Central Bank of Nigeria (CBN) and had even commenced pilot launch of the ‘KwickCash’ service on Etisalat Nigeria’s platform long before Etisalat Nigeria received V-Exchange’s letter (dated October 27, 2016) and subsequently met with V-Exchange (on November 23, 2016),” the telco added.

    The mobile network provider further claimed that KwickCash’ service was already in existence and operational prior to its meeting with V-Exchange and that it was already working with a CBN licensed financial company which was at a pilot stage to offer micro cash loans to its interested subscribers.

    “Etisalat Nigeria denies the allegation that it infringed V-Exchange purported patent over the products and is of the view that the claims made by V-Exchange are unfounded and baseless. Etisalat Nigeria is therefore unable to accede to V-Exchange’s demand for compensation of N2billion and an account for profit of N2million or any sum at all for the alleged infringement of your client’s purported patent,” it added.

  • Etisalat gets ISO 14001:2004 EMS certification

    Etisalat gets ISO 14001:2004 EMS certification

    As a demonstration of its commitment to excellence and global best practices, Etisalat has been awarded the prestigious ISO 14001:2004 EMS international standards certification. The certification makes Etisalat the first telco in the country to successfully implement the ISO 14001:2004 standard.
    The certification, which was awarded to Etisalat Nigeria by Bureau Veritas, a global leader in testing, inspection and certification, is conferred on organisations that establish and run an environmental management system of the highest standards.
    Managing Director, Bureau Veritas Nigeria, Sebastiano Fruciano, while presenting the certificate to the Chief Executive Officer, Etisalat Nigeria, Matthew Willsher, in Lagos, commended the telco for surpassing the set standards for the industry.
    “We wish to congratulate Etisalat Nigeria on achieving this great feat. We commend you for establishing and operating one of the best environmental management systems in the country, at least the best among telecommunications operators,” Fruciano said.
    Willsher thanked Bureau Veritas for recognising the commitment of Etisalat Nigeria to sustainable development, environmental protection and strict compliance with existing regulations.

    He said: “The successful incorporation of ISO 14001: 2004 EMS into our business operations is a confirmation of our continuous commitment to excellence and regulatory compliance. This international certification has again affirmed the leadership role we play in the industry. We strive to be the best in everything we do, from product innovation to service delivery and compliance with all relevant regulations and we will continue on this path.”
    Head, Environmental Compliance and Public Relations, OluseyiOsunsedo, said Etisalat as a socially responsible organisation takes compliance, stakeholder interest and best practice very seriously. She said: “We have voluntarily set the highest standards of performance for ourselves and our business partners to ensure sustainability is interwoven into business decisions. The result of this is that every aspect of our operations does not only comply with our internal operational policies, but all operations meet and where possible, exceed the local regulatory requirements as well as conform to international best practice.
    “Indeed we are the first operator in Nigeria and possibly in Africa to get certified to the ISO standard for environmental management. This goes to show that Etisalat is doing many things right particularly in terms of proactive management of environmental concerns. The recent ISO certification is an independent validation that we are operating our business in such a way that prevents negative impacts on our operational environment.”

  • Etisalat, lenders disagree over $1.2b loan settlement terms

    Etisalat, lenders disagree over $1.2b loan settlement terms

    Local lenders have opposed a proposal by Etisalat Nigeria to convert part of the $1.2 billion loan into naira. Rather, the lenders want its parent, Abu Dhabi telecoms group Etisalat, and its shareholders to recapitalise the telco, it was gathered yesterday.

    A source privy to the negotiations said the seven-year syndicated loan, on which the telco defaulted in payment schedule, has a dollar portion of $235 million which the carrier wants to convert into naira to overcome chronic foreign exchange (forex) crunch at the interbank market.

    “Etisalat is asking for us to convert the dollar component to naira but banks don’t want that option and have told them to talk to their parent to settle the loan,” Reuters quoted a banking source as saying. The source said the regulators, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) which had waded into theimpasse and prevented a possible takeover of Etisalat Nigeria are favourably disposed to the  naira conversion idea.

    Vice President, Regulatory and Corporate Affairs at Etisalat, Ibrahim Dikko, said he would not be able to give update about the outcome of discuissions with the lenders. He promised to do that today.

    The UAE’s Etisalat own 45 per cent of Etisalat Nigeria, while Abu Dhabi’s Mubadala owns 40 per cent of the company.

    This meeting came about after the CBN and NCC agreed with local banks to prevent Etisalat Nigeria from going into receivership.

    Global crash in oil prices has seen the country grappling with forex shortage since oil is the country’s major forex earner. The economy slipped into a recession last year for the first time in 25-years.

    Most of the 13 lenders involved in the loan syndication had raised dollars abroad to participate, meaning that further naira weakness would see them receive fewer dollars.

    The currency had lost half of its value since the loan, which matures in 2020, was made. Interest is due monthly and the next principal payment is due in May, the source said.

    Etisalat, which generates 3.7 per cent of its revenues from the Nigerian business, has questioned the rationale of investing more in it and may sell its stake, sources say.

    Etisalat had written down the value of Etisalat Nigeria last year to $50 million due to naira weakness, Moody’s said in a note, adding that the default at the affiliate company did not affect the parent’s credit profile.

    Etisalat owes GT Bank N42 billion, and Access Bank N40 billion. It also owed Fidelity Bank N17.5 billion, the bank’s investor relations team told Reuters.

    Etisalat  has 20 million subscribers, according to NCC;s figures, making it the country’s number four mobile operator with a 14 per cent market share. South Africa’s MTN has 47 per cent, Globacom 20 percent and Airtel – a subsidiary of India’s Bharti Airtel – 19 per cent.

  • COSON takes Etisalat to court

    COSON takes Etisalat to court

    The Copyright Society of Nigeria (COSON), last Friday, instituted a N12 billion law suit against Emerging Markets Telecommunications Services Ltd, the parent company of Etisalat, at the Federal High Court, Lagos.
    Joined in the suit is Etisalat’s CEO, Matthew Willsher.
    In the new suit no. FHC/L/C3/363/17, filed by Intellectual Property lawyer, Mr. Justin Ige, COSON not only asked the court for four different declarations of copyright infringement against Etisalat, it has also demanded that the company delivers up and forfeits to COSON all infringing copies of the Plaintiff’s musical works and of any articles or technologies in its possession.
    With 14 distinct claims endorsed on the writ, COSON has also asked for a perpetual injunction restraining Etisalat, its agents, privies and servants from the continued unauthorized copying, communication to the public, streaming, selling, broadcasting, making available for downloading and permitting the unauthorized performance to the public and infringement of the copyright in the musical works belonging to members, affiliates and assignors of COSON.

    The new suit comes after an earlier 11 Billion Naira suit filed in 2016 by COSON against Etisalat, was said by the trial judge in open court, to have been struck out inadvertently.
    Speaking on the case, Tony Okoroji, the Chairman of COSON said; “We are committed to stamping out the era of monkey dey work, baboon dey chop from the Nigerian music industry and establishing a transparent and accountable industry in which everyone who invests his or her talent or resources can rest assured that his or her investment will be fully protected.”

  • Etisalat may exit Nigeria over debt default

    Etisalat may exit Nigeria over debt default

    Abu Dhabi telecoms group Etisalat may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2 billion loan, but wants the company’s debt restructured before it does so, it was gathered yesterday.

    The Central Bank of Nigeria (CBN) and telecoms regulator, the Nigerian Communications Commission (NCC) on Friday agreed with local banks to pursue a default deal rather than a receivership for Etisalat Nigeria so as not to deter investors and to avoid a wider debt crisis.

    Etisalat is due to meet with creditors in the country today or tomorow to discuss the default, two sources told Reuters yesterday.

    It was not clear whether Etisalat, which has a 45 per cent holding in Etisalat Nigeria after converting a loan to equity in February, would divest completely.

    Senior Vice President of Etisalat, Ahmed Bin Ali, declined to comment, while Etisalat Nigeria could not be reached as at press time.

    “It is at an early stage,” one source said of the sale.

    Last week a banking source the telco had given notice to its lenders that it would miss a payment in February but the two sides are yet to agree terms.

    Etisalat signed a $1.2 billion medium-term facility with 13 local lenders in 2013, which it used to refinance an existing $650 million loan and modernise its network.

    But an economic downturn, a currency devaluation and dollar shortages on Nigeria’s interbank market led to it missing payment, Ibrahim Dikko, vice president for regulatory affairs at Etisalat Nigeria, said.

  • Etisalat trains sanitation workers in Kwara

    GSM provider, Etisalat has trained no fewer than 10 waste management officials in demonstration of its commitment to community development and environmental preservation.

    The firm also donated waste disposal bins and other ancillary items to Adewole-Adeta community in Ilorin, the Kwara State capital.

    Etisalat affirmed this during the launch of its Community Sanitation Support Programme (CSSP) in Ilorin, in conjunction with HEDA Resource Centre and the Kwara State Government as part of the company’s continued efforts to promote community health and environmental preservation across Nigeria.

    Speaking at the event Head, Public Policy and Government Affairs, Mohammed Suleh-Yusuf said the key objective of the CSSP initiative was to promote the culture of hygiene and environmental preservation among residents of the state so they can continue to live healthier lives and be more productive at all times.

    He said, “Through our CSSP initiative, Etisalat is not just providing sanitation support to communities; we are empowering Nigerians to understand the benefits of maintaining a clean environment. This is why we have gone the extra mile by training 10 young people as waste

    management champions in Adewole-Adeta community, and also providing them with the equipment to function. We also provided them with phone lines and airtime so they can reach out to one another and provide feedback on their progress from time to time.”

    Commending Etisalat Nigeria for the CSSP initiative, Kwara State Commissioner for Environment, Otunba Taiwo Johnson, who was represented by the Deputy Director on Environment, Gabriel Towoju, enjoined other private sector companies to emulate the telco by being more committed to the environment. “This is laudable, and I encourage others to join hands with government in promoting clean and healthy environment. Through effective synergy, we will all ensure our society is in perfect state of harmony with nature where all of us live together peacefully,” he said.

    Coordinator, HEDA Resource Centre, Sulaiman Arigbabu, stated that the non-governmental organization (NGO) partnered with Etisalat to promote community health and environmental preservation at the grassroots across Nigeria because poor sanitation and unsafe environment can cause illness thereby affecting people’s productivity.

    “The prosperity of communities is linked with people’s productivity, and there is a linkage between how healthy the people are in carrying out their daily activities. Toa large extent, the state of health of the people is linked to the sanitary condition and well-being of the environment”, he noted.

     

  • $1.72bn debt: NCC, CBN halt Etisalat’s takeover

    The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN)  have secured a reprieve for Etisalat on the $1.72 billion  (N541.8 billion) loan crisis facing the company.

    The Director of Public Affairs of NCC, Mr. Tony Ojobo, said in a statement on Saturday in Lagos, that the reprieve came following a meeting convened by CBN and NCC to find a quick resolution to the crisis.

    ”Friday’s meeting succeeded in halting the attempt by Etisalat’s creditors at bringing it under any form of takeover,” Ojobo said.

    ”Receivership was completely taken off the table in a meeting that was very productive and constructive.

    ”The meeting, which held at the CBN office in Lagos, had the consortium of banks being owed and Etisalat in attendance.

    ”The banks and the mobile network operator agreed to concrete actions that will bring all parties closest to a resolution.”

    He said CBN and NCC were able to secure for Etisalat the necessary “oxygen” to enable it continue to meet urgent operational expenses.

    Ojobo said the CBN Governor, Mr. Godwin Emefiele, who chaired the meeting, was firm in declaring what needed to be done by both parties towards a quick resolution.

    He said the Commission equally made it clear that everything necessary must be done to protect the 23 million Etisalat subscribers.

    The NCC spokesman said there was also the need to protect the telecom industry to prevent potential investors from developing cold feet.

    According to him, effort has been made to ensure that Etisalat remains in business while the consortium of banks meet their obligations to their customers.

    ”A meeting will hold on March 16 to agree on a payment restructuring path going forward.

    ”The NCC will lead the CBN in a possible crucial meeting with Etisalat’s shareholders anytime soon,” he said.

    A consortium of banks  on March 8 attempted to take over Etisalat over the  debt.

    Etisalat is Nigeria’s fourth largest telecommunications operator with about 23 million subscribers as at January this year.

    The company commenced operation in Nigeria in 2009.

    NAN

     

  • $1b loan: CBN, NCC launch rescue mission for Etisalat

    $1b loan: CBN, NCC launch rescue mission for Etisalat

    A rescue mission was launched yesterday for troubled mobile giant Etisalat.

    The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) resolved to intervene in the over $1billion  loan repayment issue between the telco and its local creditors.

    According to the NCC, the decision was taken yesterday afternoon after a meeting in Abuja between the NCC  Executive Vice Chairman  Prof. Umar Danbatta and CBN Governor Godwin Emefiele.

    NCC spokesman  Tony Ojobo, in a short statement, said the meeting at the Central Bank Headquarters, Abuja was convened by the financial sector regulator at the instance of the NCC, the telecom regulator, to stave off the attempt by banks to take over Etisalat.

    “At the end of the meeting, the CBN agreed to invite Etisalat management and the banks to a meeting tomorrow (today), towards finding an amicable resolution.

    “The NCC, as a regulator of the telecom industry had moved quickly to intervene earlier in the week by reaching out to the CBN convinced of the negative impact such a bank take over will have on the industry.

    “NCC was worried about the fate of the over 20 million Etisalat subscribers and the wrong signals this may send to potential investors in the telecom industry,” Ojobo said.

    Access Bank yesterday said the telco was owing it N40 billion ($131 million).

    The lender’s Chief Executive, Herbert Wigwe said the loan talks were triggered 10-days ago when the company asked lenders to “stand still” on the loan for it to review its operations.

    He also said Etisalat Nigeria’s parent, Emirates Telecommunications Group (Etisalat) had converted a loan to the Nigerian company into shares to free up cashflows and was being asked to inject more equity capital.

    “Banks are saying we would need an equity injection or commitment to support the business. That is being discussed,” he told an analysts’ call when asked about Access Bank’s loan book.

  • CBN, NCC move to intervene in Etisalat loan issue

    CBN, NCC move to intervene in Etisalat loan issue

    The Nigeria Communication Commission (NCC) on Thursday said the Commission and Central Bank of Nigeria (CBN) had moved to intervene in the Etisalat loan issue.

    The Director of Public Affairs of NCC, Mr Tony Ojobo said this in a statement issued in Abuja.

    “After a meeting on Thursday afternoon in Abuja between the Executive Vice Chairman of  NCC, Prof. Umar Danbatta and the CBN Governor,  Mr Godwin Emefiele and his team, a decision was reached to intervene in the loan issue between Etisalat Nigeria and a consortium of commercial banks.

    “The meeting which was held at the CBN in Abuja was convened by the financial regulator at the instance of NCC and the telecom regulator to further deliberate on how best to stop the attempt by the banks to take over Etisalat.

    “At the end of the meeting, the CBN agreed to invite Etisalat management and the banks to a meeting tomorrow, Friday, toward finding an amicable resolution,’’ he said.

    Ojobo said that the NCC as a regulator of the telecom industry had moved quickly to intervene earlier in the week by reaching out to the CBN because it was convinced of the negative impact such takeover move would have on the industry.

    He added that NCC was worried about the fate of the over 20 million Etisalat subscribers and the wrong signals this might send to potential investors in the Telecom industry.

    It was reported that on March 8, Etisalat was had been taken over by three banks because of its N541.8 billion debt.

    However, NAN correspondent spoke with the Head of Public Relations, Etisalat Nigeria, Ms Oluseyi Osuntedo, dispelled the talk that banks had taken over the company.

    Osuntedo NAN in Lagos that discussions were still ongoing between the banks and the company.

    “Discussions are going on; nobody is taking up the company.

    “It is not true that we are being picketed, whoever gave the information is not telling the truth,” she said.

    A consortium of some foreign and Nigerian banks, including Guaranty Trust Bank, Access Bank and Zenith Bank, have been having a running battle with the mobile telephone operator, over a loan facility totalling 1.72 billion dollars (about N541.8 billion) obtained in 2015.

    The banks said their attempt to recover the loan by all means, was fuelled by the pressure from the Asset Management Company of Nigeria (AMCON), demanding immediate cut down on the rate of their non-performing loans.
    .
    NCC appears not to be favourably disposed to the takeover proposal as it believed that Etisalat is not only a viable going concern, but also willing and able to negotiate the servicing of its loans.

    Etisalat is Nigeria’s fourth largest telecoms operator with about 21 million subscribers as at January 2017, according to the NCC.

    It commenced business in Nigeria in 2009. (NAN)