Skye, FBN, 2 others refinance MainOne with $100m [Sun, The (Nigeria)]
(Sun, The (Nigeria) Via Acquire Media NewsEdge) By OMODELE ADIGUN
A consortium of four banks – Skye Bank Plc, Standard Chartered Bank Limited, First Bank of Nigeria Plc and First City Monument Bank – has provided a $100 million refinancing facility for MainOne Company Nigeria Limited to drive its growth plans.
MainOne Cable Company Limited is a leader in wholesale broadband and wholesale bandwidth telecommunications services and land cables to telecom operators and Internet service.
Speaking at the loan signing ceremony Wednesday in Lagos, its Chairman Mr. Fola Adeola, noted that the facility was needed to expand the operations of the company and to further make business easy for their clients.
According to him, broadband ought to be a fundamental right, saying it is unwholesome for companies to pay four times the normal price for carrying data from one location to another.
Adeola said the money would help make interconnectivity easier and internet access faster and more efficient for the company's clients. Also speaking, the Chief Executive Officer, Ms. Funke Opeke, said the company was building its data centre, which would have 600 raps of computing power and electrical power of 75kilowatts.
Mrs. Opeke said their clients would be connected to the computing and electrical powers through optic fibres, which would allow them to participate in the global economy and transform Nigeria and West Africa into a digital economy.
The MainOne boss explained that the company had been expanding its services to other cities in Nigeria like Abuja, Oshogbo, Port Harcourt, Kaduna, and Accra and Lome in the West African sub region.
Skye Bank was the lead financier of MainOne's first broadband roll out in 2010 and has consistently partnered with the broadband company to become the topmost broadband company in the West African sub-region.
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