ADVERTISEMENT
The Moment Nigeria
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport
No Result
View All Result
The Moment Nigeria
No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport

FBN’s FBNQuest partners Equinix, exits MainOne

by Usman Kadri
April 21, 2022
Reading Time: 2 mins read
FBN’s FBNQuest partners Equinix, exits MainOne
Share on FacebookShare on TwitterShare on WhatsappShare on LinkedIn

FBNQuest, the investment banking and asset management subsidiary of FBN Holdings Plc., has disclosed the divestment of its stake in MainOne Cable Company (“MainOne”) to Equinix Inc.

A statement by the company announcing the development, said in 2009, FBNQuest Funds Limited (“FBNQuest Funds”) invested $15m of primary capital in MainOne to fund the company’s vision to build a 7,000km subsea submarine communications cable running from Portugal down the coast of West Africa.

The statement added that over the years, MainOne had evolved from a submarine fibre optic cable operator to a leading West African data centre and connectivity provider with a presence in Nigeria, Ghana, and Cote d’Ivoire. MainOne provides reliable services to major telecom operators, ISPs, government agencies, small to large enterprises, and educational institutions.

RELATED STORIES

iConnect

Why the smartest Nigerians are racing to buy iPhone 16 — and only from iStore and iConnect

June 23, 2025
N3.4bn fraud: Union Bank official testify against Friday Audu, Chinese Nationals

N3.4bn fraud: Union Bank official testify against Friday Audu, Chinese Nationals

June 23, 2025

Equinix is the largest digital infrastructure company in the world and its acquisition of MainOne marks the beginning of an expansion into Africa and further strengthens the company’s long-term strategy to become a leading digital infrastructure company on the continent.

Commenting on the exit, former Non-Executive Director on the Board of MainOne, Taiwo Okeowo, said, “We are pleased to have been a part of MainOne’s journey towards transforming its vision into a reality to become the leading provider of wholesale and enterprise connectivity and data centre services across West Africa. MainOne continues to expand its footprint across Africa, and this investment in Equinix will further help to increase broadband availability across the continent.”

The Managing Director, FBNQuest, Ijeoma Agboti, said, “FBNQuest Funds is pleased to have supported MainOne’s dedicated management team in building a business that has proven to be the backbone of our sub-regional digital economy, enabling hundreds of technology businesses that rely on its infrastructure.”

The statement read, “The sale of FBNQuest Funds’ investment in MainOne highlights the strength of the firm’s investment strategy which is to invest in companies operating in core economic sectors in Nigeria backed by strong management teams and founders, with emphasis on portfolio operations as a creator of value.”

Tags: fbn holdingsfbn holdings 2016 dividendfbn holdings 2017 dividendfbn holdings 2019 dividendfbn holdings annual report 2017fbn holdings nigeriafbn holdings plcfbn holdings plc share pricefirst bank of nigeria fbn holdings plcwho owns fbn holdings
Next Post
Why Police, IMAN search Kamange Warehouse -IMAN Taskforce

Why Police, IMAN search Kamange Warehouse -IMAN Taskforce

More Articles...

BREAKING: EFCC arrests ex-NNPCL Finance Chief, former Warri Refinery MD over alleged $7.2bn fraud

BREAKING: EFCC arrests ex-NNPCL Finance Chief, former Warri Refinery MD over alleged $7.2bn fraud

June 23, 2025
SunTrust $12m alleged money laundering

Sanwo-Olu Allegedly Linked To SunTrust Bank’s $12 Million Money Laundering Scandal

June 23, 2025
iConnect

Why the smartest Nigerians are racing to buy iPhone 16 — and only from iStore and iConnect

June 23, 2025
N3.4bn fraud: Union Bank official testify against Friday Audu, Chinese Nationals

N3.4bn fraud: Union Bank official testify against Friday Audu, Chinese Nationals

June 23, 2025
Unlocking revenue and strengthening dispute resolution: TaxADR roundtable to build roadmap for TaxADR in Nigeria

Unlocking revenue and strengthening dispute resolution: TaxADR roundtable to build roadmap for TaxADR in Nigeria

June 23, 2025
Sule Lamido’s June 12 submission, dishonest — Alake

Sule Lamido’s June 12 submission, dishonest — Alake

June 23, 2025

STANBIC IBTC ADVERT

About Us

Themomentng.com is an online community of reporters and social advocates dedicated to bringing you features, news reports by Africans, but from a global perspective.

Contact Us

+447771081433
+2348051966180(WhatsApp/SMS Only)
Email: themomentng@gmail.com

Categories

  • Business
  • Education
  • Entertainment
  • Events
  • Featured
  • Food
  • Foreign
  • Health
  • Interviews
  • Life and Styles
  • Metro
  • Motoring
  • News
  • Opinion
  • Politics
  • Religion
  • Society
  • Sport
  • Technology
  • Top Story

Follow Us

Facebook Twitter Instagram

Copyright © Themomentng.com. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Business
  • Entertainment
  • Interviews
  • Life and Styles
  • Sport