WITH the expected sale of Zain Nigeria and other Zain African networks in the next few weeks to Bharti Airtel, India’s largest mobile operator, the Zain brand and subscribers on the network may have to contend with a new brand name as the Nigerian operations may soon change its brand name again.
The company started its operations in 2000 with Econet Wireless Nigeria but changed the name to Vodacom after a protracted boardroom crisis that nearly tore the entire company apart. It was in the midst of the crisis that the name changed to Vmobile few months later. Subscribers were getting used to the Vmobile brand when Celtel acquired the majority shareholding in the company and changed the name to Celtel until Zain acquired Celtel about two years ago.
BusinessWorld Intelligence can reveal that Zain’s board is no longer interested in the African operations and is more inclined to selling its assets in the continent and distribute cash. Adding to the uncertainty at the firm is the ongoing efforts to sell 46 per cent stake in the parent company to a consortium led by the Kharafi Group, one of its main shareholders, which has been ongoing since last September.
Bharti Airtel’s has offered $10.7 billion for Zain’s African operations excluding Morocco and Sudan.