Equinix, Mainone, and a PRICE that is RIGHT
Happy NEW YEAR.
I am known for my stubborn argument that the Nigerian CommTech industry is a creation and development of those who play in it.
Pre-OBJ’s ‘second time first term’, we had an industry only by law and by name. OBJ’s government, in fairness to the clumsy man, gave the industry the freedom it required to run. Those who came after him took it consistently down the slope ending, as we speak, in the valley.
Indigenous players’ hard work and faith in their country may have started to pay off and with a measure of good luck, we may see a year that will refuse to fail.
I can list six indigenous investor-players (I am not including light start-ups please) who earn my respect and who keep things looking up in the face of all odds.
Only Funke Opeke should be mentioned publicly at this time since the results are already in the open.
Funke said the other day, with a smile dancing around her lips, that Equinix’ buy into her MainOne is a fair deal and at a right price. Yes, right price is my enticing phraseology.
Indeed, what MainOne has proved is that Nigeria is the authentic gateway to Africa.
Now the story:
“At Equinix, our purpose is to be the platform where the world comes together, enabling the innovations that enrich our work, life and planet” – #EquinixAD21
Equinix believes MainOne to be one of the most exciting technology businesses to emerge from Africa. Founded by Funke Opeke in 2010, the company has enabled connectivity for the business community of Nigeria and now has digital infrastructure assets including three operational data centers, with an additional facility under construction expected to open in Q1 2022. Upon closing, these facilities will add more than 64,000 gross square feet of space to Platform Equinix®, with 570,000 square feet of land for future expansions. – December 7, 2021
“What really drives me to make a positive impact in the world is the opportunity to leave the world a better place for my kids and their generation, then it works for me…..It’s important to me that we use our global platform to bring organisations together to enable innovations that really matter” – Opeyemi Omo-Ettu, Equinix, June 2021
“Equinix will accelerate our long-term vision to grow digital infrastructure investments across Africa. I thank our founding shareholders led by Mr. Fola Adeola, MainStreet Technologies, AFC, PAIDF, FBN, Polaris and AfDB for investing in the MainOne vision to bridge the Digital Divide in Africa. With similar values and culture to what we have jointly built in twelve years, Equinix is the preferred partner for our growth journey. The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together.” – Funke Opeke, Founder and CEO, MainOne, December 2021.