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Former MTN Nigeria CEO To Lead Ntel’s $550m Restructuring
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Former MTN CEO Ntel Restructuring: Adrian Wood, the former CEO of MTN Nigeria, has made a notable return to the Nigerian telecoms industry as the new CEO of ntel.
The telecoms company emerged from the unbundling of NITEL and is currently managed by NATCOMS.
Former MTN CEO Ntel Restructuring
About Ntel
Ntel, an offshoot of the government-owned NITEL acquired by NATCOM Development and Investment Limited (NatCom), launched in 2016.
It aims to redefine the Nigerian telecommunications landscape and enrich the lives of Nigerians by delivering the most advanced communications technology.
This is done across the largest possible network coverage in the most effective, valuable, and satisfying manner.
Former MTN CEO Restructures Ntel
According to the firm, Woods, whose appointment took effect in January, is on board to lead the company in its restructuring and re-branding bid through the raise.
The new CEO outlined his vision for ntel, which includes the introduction of innovative products and services that have not previously existed in the Nigerian telecoms market.
This revelation was made in a letter to the company’s staff.
Wood also said in the letter, “On 21st May, I visited Aminu Maida, CEO of the Nigerian Communications Commission.”
“We had a productive session about the forward plan for NatCom, our role in industry building. Also, we talked about the prospects for raising equity and debt capital to fund a complete new 4G/5G network design and rollout nationwide.”
More Investment Comes In As Former MTN CEO Restructures Ntel
In the letter, Adrian further shared his efforts to secure investments. He mentioned meetings with potential institutional investors and discussions with African Capital Alliance (ACA), a premier private equity fund group in Nigeria.
Wood noted that ACA, an early investor in MTN Nigeria, expressed interest in supporting ntel’s new initiatives.
He finally said, “There will be an exciting new brand, fresh business strategies, and unique service combinations not currently available in Nigeria. All technical systems and platforms will be built and deployed nationwide. It will be a massive undertaking, but we will prevail.”
