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Vietnam considers 9mobile as potential channel into Nigeria market

Vietnam considers 9mobile as potential channel into Nigeria market

The Deputy Prime Minister of Vietnam Vuong Dinh Huê has confirmed the country is eager to explore telecoms-related investment in Nigeria via its state-owned telco Viettel.

At its AGM in May Viettel confirmed its interest in expanding to the West African country.

The telco initially planned to compete for tenders for the acquisition of a telecommunication operating license from the Nigerian Communications Commission (NCC).

However, it is now considering the options related to 9mobile, the recently unveiled new-look venture which is in the market for new owners to offset loans as a result of Etisalat's exit.

Entering the Nigerian market would allow Viettel to achieve its goal of engaging a potential 350 million potential customers.

At the end of 2017, the company would have spent a budgeted US$2.23 billion on foreign expansion which currently includes markets in Asia, Africa and Americas.

In Africa, Viettel operates in Burundi, Cameroon, Mozambique and Tanzania.

"Vietnam is interested in the development of bilateral trade relations and encourages businessmen of both countries to invest in telecommunications and information technology," said Huê.

He added that his country attaches importance to the development of multi-dimensional relations with Nigeria, which is considered a priority partner for investments in Africa.

Nigeria's industry stakeholders have said the country requires more investment to increase its broadband penetration from the current level of 21% to 30% by 2018.

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