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SWAP, Zoom Mobile agree on

BY MOSES NOSIKE
Following its bid to be among the top five quoted conglomerate company by the year 2011, SWAP Technologies and Telecomms Plc has concluded a multi-million deal with Zoom Mobile where SWAP acquired cell sites of Zoom Mobile across the country under a sale and lease back transaction.

In a statement signed by its Managing Director, Mr. Tunde Titilayo the company stated that the deal, common in North America and Asia is the first of its kind in sub-Saharan Africa and was facilitated by First Bank of Nigeria plc.
He explained that this has placed SWAP in a vantage position to become the biggest infrastructure sharing company in this continent within the next two years.

“SWAP received its Co-location and Infrastructure Sharing Licence from Nigerian Communications Commission (NCC) in November 2008 to begin its co-location and telecoms infrastructure sharing business and now has sites in different parts of Nigeria available to all GSM, CDMA and WIMAX operators for co-location, “he said.

The focus, Titilayo pointed out is in line with NCC and government encouragement for operators to co-locate their passive infrastructure and reduce proliferation of towers in the country for environmental protection and preservation purposes.

He further noted that SWAP sometime last year, went public after a successful private placement and has operations in Ghana, Cote d’Ivoire and still spreading across the sub-Saharan Africa.

According to him: The company also delighted investors last year by paying a 15k dividend, which was the first of such among infrastructure companies in Nigeria.

The company will soon get listed on the Nigeria Stock Exchange (NSE) to allow other private and national investors to partake in its ownership.

Titilayo also averred that the award of the SON/ISO 9001 Certification to SWAP by the Standard Organisation of Nigeria (SON) was as a Bb+ result the company got from Agusto’s rating in confirmation of the company’s process driven operations and quality delivery objectives.

“SWAP is poised to take the Sub_Saharan Africa in full swing successfully providing solutions for telecommunications services, telecoms infrastructure, energy, logistics, et al, “he said.


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