Etisalat Wins African Telecoms Deal Award

Nigeria’s
fastest growing and most innovative telecommunications operator,
Etisalat, has emerged winner of the ‘African Telecoms Deal of the Year
2011’ at the 13th Euromoney/Project Finance Magazine Awards in London
last week. This deal, one of the largest project finance transactions in
Nigeria in 2011 was signed on 10 March, 2011 between EMTS and a
consortium of banks — First Bank, Zenith Bank, Access, Fidelity
Bank,UBA, Oceanic Bank (now Ecobank), GTB and Bank PHB (now Keystone), .
Other
key stakeholders who contributed to the success of the deal include
financial advisers, Citi and Aelex, Banwo & Ighodalo and Norton
Rose, legal advisers. Etisalat also benefited in this transaction from
the unwavering support of its shareholders, Etisalat Group of the UAE,
Mubadala, the investment arm of the Emirate of Abu Dhabi and Myacynth
and the consortium of Nigerian investors.
Managing Editor of
Project Finance Magazine, Mr. Sean Keating, while presenting the award
to Etisalat and partner banks commended the achievements of the
relatively new company and the trust exhibited by the banks. Responding
after receiving the award at the presentation dinner, Acting Chief
Financial Officer of Etisalat Nigeria, Mr. Abhulime Ehiagwina, expressed
appreciation to the organisers of the Project Finance Awards as well as
the partner banks.
Managing Director/CEO Fidelity Bank Plc, Mr
Reginald Ihejiahi, one of the eight arrangers expressed the sentiments
echoed by all the partner banks present, saying that Fidelity Bank is
excited at Etisalat’s winning of the African Telecoms Deal of the Year
2011.
“This is a large transaction and more importantly it shows
that there are great possibilities in the Nigerian banking industry and
attests to the belief Fidelity Bank has in Etisalat. We look forward to
more deals of such magnitude in the near future”, he concluded.
The
Project Finance Deals of the Year Awards is organized by Project
Finance Magazine, a publication of EuromoneyInstitutional Investor PLC.
The Project Finance awards are for innovation, deal repeatability, best
practice, problem solving, risk mitigation, value for money and speed of
delivery in financing infrastructure projects, large or small.
Representatives
of First Bank, Access Bank Fidelity Bank, , UBA, Ecobank and Keystone
Bank were at the event to join Etisalat in receiving the award in
addition to other parties to the deal including Citi – financial adviser
on the deal and Norton Rose – international legal adviser on the deal.
The award ceremony held at the Grand Connaught, Central London was for Europe, Middle East and Africa and had 36 awardees.
The
‘African Telecoms deal of the year’ award complements other titles that
Etisalat Nigeria has won in just three years of operations in the
Nigeria. Awards which include ‘Brand of the Year’, ‘Best Telecom
Customer Service’,‘Telecom Innovations Company of the Year’, ‘Most
Innovative Corporate Social Responsibility Company’, ‘Catalyst for
Change’ and ‘Most Impactful Retail Design and Merchandising’ among
others.
—Henry Ojelu

This is good news. i want to see war wedge between MTN and Etisalat.
wpf2.0 I want to see MTN flushed to the toilet.

i proud of eti