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Profiles >> Project Hope |
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The project is a direct response to the huge
opportunity in the Nigerian Telecom Market,
which has been adjudged by ITU as the fastest
growing telecom market in Africa. It is a
start-up telecommunication project initiated
by Segun Oyeyemi the founding CEO and promoter
of U2 Communication Investments
Limited. U2Africa is
duly incorporated with the Corporate Affairs
Commission, Abuja.
Our brand name is U2africa
reflects the Pan African Vision of the project.
As a Pan African Enterprise U2Africa's
vision is "to be a role model and tool for
social change" When operational, she will
serve as beacon and benchmark for operational
efficiency, service quality, affordability
and social responsibility. U2
will specifically target the low-income group
(LIG) with a mission to positively impact
their social and economic well being through
her operational strategy, in which the LIG
is core. Giving hope and equal opportunity
to the poor is her core purpose.
As a late entrant to the market, leveraging
on the power and robustness of CDMA 2000 1X
EV DO and a National Unified Access License
U2africa will rollout Africa's first ever
CDMA national mobile network that will be
ubiquitous, of highest Quality of Service
(QoS) and easily accessible and affordable
to all irrespective of social class.
The Nigerian Network rollout and operation
will commence from the Federal Capital Territory
(Abuja) and coverage will be extended to the
36 States and progressively to the 774 local
government areas within 36 months of commencing
operation, with a target Subscribers base
of 5m.
In fulfillment of the pan African vision,
network service shall be progressively extended
beyond the Nigerian bother to other West African
Countries and subsequently reaching East and
Southern Africa".
As an in-house project, Global Partners, working
with some co-opted friends of the firm who
are experienced professionals in their own
field, is responsible for the visioning, planning,
documentation, searching and identification
of vendors, potential investors and service
providers.
The vision for the project was conceived by
Segun Oyeyemi in May 2005 and has progressed
to the point where U2africa is holding discussions
with technology and equipment Vendor, Funds
Providers (Foreign). Feasibility Report and
Business Plan is completed.
U2Africa is currently processing its application
for Unified Access Service License (UAS) and
frequency spectrum. U2afrcia will participate
in the Auction of the 450MHz spectrum slated
for April and May 2007by the Nigeria Communication
Commission (NCC).
Given the size of the project, the initial
investment outlay is in excess of $200m (two
hundred million dollars). This will progressively
increase and peak at about $1.8billion in
five years. Project funding will comprise
of equity, quasi-equity, suppliers' credits,
short and long term debts. U2africa will be
listed on the Nigerian and Johannesburg Exchange
simultaneously latest by the first quarter
of 2010.
Enquiries for investment opportunities should
be sent to:
info@globalpartnersng.com
Phone: +234.805.558.1158, +234.803.306.8492, +234.1.720.0350
Fax: +234.1.345.1784
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