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Nairaland Forum / Science/Technology / Phones / Econet Begins Construction Of $100m Data Centre In Lagos (29118 Views)
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Re: Econet Begins Construction Of $100m Data Centre In Lagos by farem: 4:55pm On Dec 15, 2020 |
AK481: You are missing it brother. The corrupt Nigerian investors forced them out because econet core investors didn't have enough money for effective capitalisation AND ESPECIALLY BECAUSE THEY REFUSED TO ACKNOWLEDGE NIGERIAN FACTOR |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by loopman: 5:07pm On Dec 15, 2020 |
udoka2013: You Ibos are always trigger about lagos for no just reason Udoka lati ogbomosho, agbole ibo ipanrimpaku baba e ni ogbomosho Omo ale olofo |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Yankee101: 5:15pm On Dec 15, 2020 |
Data is the next oil Foreigners know and are taking advantage Nigerian dey look like locozade Why can't NCC build data centers that AWS will provision all in 5 seconds? The man don hammer before it's even completed 1 Like |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Siramen2001(m): 5:17pm On Dec 15, 2020 |
Hmm Econet what? I pray to see succeed this time around oooo |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Nobody: 5:20pm On Dec 15, 2020 |
[quote author=Birchi33 post=97093886][/quote] Can you stop being stupid with your replies, Hoodlums that were clearly Yoruba boys that unleashed mayhem following end SARS protest you now say it is NK that organized them. Bro have conscience and stop taking peanuts to destroy a fellow human being |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Bluntemperor: 5:38pm On Dec 15, 2020 |
Nbotee: OP has not said anything! Did you know the history of the Telecommunications or why are we so confused? Is ECONET not the one that metamorphosed to now Airtel or are you talking about a Subsidiary Company that is trying to launch its root into Nigeria? Seun Lalasticlala,please do this Forum a favour by looking at quality of what are being posted here.Econet,MTN,Vodafone were slugging it out in the Nigerian Big Market then and to some of us,not until GLO introduced per Second Billings,to crash the undue cruel price advance being perpetrated by these telecom.So,why Econet again! All along,the White will never leave Nigerian Market because of its huge potentials,including Huge Population! |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Tjiaz(m): 5:39pm On Dec 15, 2020 |
Nice one econet |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by panpan(m): 5:53pm On Dec 15, 2020 |
I had almost forgotten about Econet, with its history in Nigeria: Econet --> Vodacom --> V-mobile --> Celtel --> Zain --> Airtel 1 Like |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by careidon: 6:07pm On Dec 15, 2020 |
Most need to find out what really happened to Econet Below is the guy's story... "I had the privilege of making Nigeria’s first GSM phone call back in 2001 when I called the regulator to say, “We’re live!” Who would’ve believed then that Nigeria today would have more than 167 million mobile phones?! It all started out as a very exciting new chapter for enterprise in Africa. Shortly after President Obasanjo was elected, the new government announced an incredibly transparent international auction process for three national mobile phone licenses. To participate in the bid, you not only had to raise money, but there had to be a member of the bidding consortium who was an experienced GSM operator. Econet Wireless met the requirements because of its experience in Zimbabwe and Botswana. Our Nigerian partners, which included state governments, local banks and high net worth individuals, were financial investors. The largest shareholder had only 10%. That was the written agreement. I managed to assemble a consortium of 22 investors to put up the money needed to bid. Our shareholders were all Nigerian, mostly institutional investors including leading banks and two state governments, Lagos State and Delta State. The license cost us $285m and was the most expensive license ever issued in Africa at the time. This was 2001. We considered the investment not only about putting together a network, but also about building a nation. We knew it had the potential to transform Nigeria’s entire business and social architecture. Most of our investors had between 1-10% shareholding. Econet Wireless Nigeria had only 5% of the shares, but that was fine because it was 5% ownership of a very big pie. As the “technical partner and operator,” Econet was the company with the expertise to build and operate such a business. Our financial investors recognised this, and also allowed us to receive 3% of the turnover as our fees. This was standard practice in the industry. We were one of the winning bidders and they gave us just six months to set up business and get our network operating. We were under a lot of pressure but our network was live two days before the others! Customers were pouring in. We were number one in the market with an estimated 57% market share. ___Then came the fateful day when I was told that our company must pay a total of $9m in bribes to senior politicians (in state government) who had facilitated the raising of the money to pay for the license. I refused to authorise the illegal payments. Meeting after meeting was held to try to get me to agree, but I would not. The money would not be paid as long as Econet was the operator and I had signing authority. James Ibori, the Governor of Delta State, was demanding $4,5m be paid to him in his personal capacity. He was one of the most powerful men in the country and had a reputation for violence. When he heard that I was refusing to approve payment he issued an ultimatum: ___”Pay or I will chase you and your people out of the country.” I refused. The shareholders met and voted Econet Wireless Nigeria out of management. They cancelled our management contract. James Ibori and his colleagues personally attended the meeting to remove us. After the meeting one of them (a prominent local businessman even today) came up to me and said: “Unfortunately for you, God does not have a vote.” I had to withdraw all my staff and their families: 200 people in all. We left Nigeria. Most of our people had to be retrenched. The loss of the contract almost drove us to bankruptcy as a group. They invited a big international operator to replace us as technical partner and operator. They changed the name of the company from Econet to V-Mobile. Within days of their arrival, the managers of the new operator signed off the payments demanded as bribes. Then what happened? A few noble Nigerians had both the integrity and courage to carefully collect all the documentation on the movement of the money, and pass it all on to me. ___There’s a saying worth remembering in uncovering the trail of destruction that is corruption: “Follow the money”… I bided my time… then I wrote a letter to the United States Department of Justice! It was 2003." To be continued…" The post, which is only one in a five-part story, from Facebook 3 Likes |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by jaxxy(m): 6:12pm On Dec 15, 2020 |
This is interesting.. and in partnership with google. Nice |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Judgesledge(m): 6:23pm On Dec 15, 2020 |
Fmghewzy:Thanks for the advice bro, best attitude is never join in tribal debates, cause nobody ever wins, rather pushes negative energy |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Fmghewzy(m): 7:05pm On Dec 15, 2020 |
Judgesledge: Good |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by edoairways: 7:48pm On Dec 15, 2020 |
careidon:I remember this story back then. Was Lucky Igbinedion a shareholder as at that time? |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by udoka2013: 7:52pm On Dec 15, 2020 |
loopman:Is like you are a stranger or probably an Indomie generation . My present senator is bearing Fatai Buhari and he is original Omo Ogbomoso. We are in a country where you don't judge by name. I am from Osupa but will not tell you the Ile bcus this is public forum. Finally if you see me in person you will know that it is baba e ni omo ale olofo. Ode ni e! |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Akanbiedu(m): 8:44pm On Dec 15, 2020 |
EVILFOREST: |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Lawalemi(m): 8:48pm On Dec 15, 2020 |
Imagine comparing these people brain with Buhari own |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by loopman: 3:56am On Dec 16, 2020 |
udoka2013: Ode ni baba ati ashewo n’to pe ni iya e |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Emeka71(m): 4:15am On Dec 16, 2020 |
Good move. |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by udoka2013: 9:51am On Dec 16, 2020 |
loopman:There is no need to argue with you anymore but the only thing I want to tell you is that, Baba and Iya which you mentioned will continue to hunt you all around even in your sleep because you called oku orun with your own mouth and so shall it be. Matter closed. |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Uchasa(m): 10:32am On Dec 16, 2020 |
EVILFOREST: Will you shut up you idiot Why didn't you mention your brown roof states, why mention Niger Delta?? |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by loopman: 10:35am On Dec 16, 2020 |
udoka2013: Just sharaaaap! When next you want to come and form savage on Nairaland, just have at the back of your mind that you can get it worse Omo ale olofo |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Nobody: 11:24am On Dec 16, 2020 |
obynzo:All the people leading the protest, calling NCownu live then, are Yoruba boys...even the live conversation when your Cownu say they will destroy Lagos was doctored by Yoruba boys... Stupid somebody like you |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by whitemand4(m): 12:23pm On Dec 16, 2020 |
Odidigboigbo: Thank you ! Please educate them more. That's how they complain about everything blindly |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Nobody: 12:32am On Dec 17, 2020 |
Birchi33: Oga go and look for some other lie to peddle this one is dead on arrival. It was Yoruba hoodlums that ransacked Lagos not Nnamdi Kanu |
Re: Econet Begins Construction Of $100m Data Centre In Lagos by Konquest: 12:25am On Jan 09, 2021 |
EcoBrick:This is mad good. Welcome home Strive Masiyiwa! |
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