Much ado about Globacom during a festival of joy

There is only one thing in life worse than being talked about, and that is not being talked about – Oscar Wilde.

In October 2024, Globacom, announced the commencement of its yearly Festival of Joy promo.

Prizes to be won by lucky subscribers included Toyota Prados, Kia Picantos, tricycles, power generating sets, sewing machines and grinding machines. To win, existing Glo subscribers were to dial *611# to opt into the promo and keep recharging while new subscribers couldparticipate by purchasing a new SIM, registering it and dialing *611#.

To qualify for the draw for the Prado Jeep, subscribers are required to recharge up to N100, 000 cumulatively in a month during the promo period. Those desirous of winning a Kia Picanto are required to recharge up to N50, 000 cumulatively; N10, 000 in a month for tricycle hopefuls and N5, 000 total recharge in a month to win a generator. For the sewing machine, a total recharge of N2, 500 in a month is required, while for the grinding machine, a recharge of N500 in a day will make a subscriber eligible for the draw.

On Thursday, November 24th, 2024, the first draw was held in Warri, and Mr. Mayuku who is the Chairman of Delta State Security Trust Fund and a popular figure in Warri emerged the first winner of a Toyota Prado jeep.

On hand to present him with his prize was the Speaker of the Delta State House of Assembly, Hon. Emomotimi Guwor. The Speaker, who was designated the Special Guest of the day, was accompanied by the Chairman Uvwie Local Government Area, Delta State, Chief Anthony Ofon. Other special guests included Mrs. Anwuli Efejuku, the Head of licensing and operations, National Lottery Regulatory Commission, Delta State office.

In his speech at the event, Hon. Emomotimi Guwor described Globacom as “a network that is known for giving. Over the years, many Nigerians have been empowered by Glo.. The people of my constituency in Warri South West and the entire Delta people are grateful to Glo…Kudos to Glo and our own Dr. Mike Adenuga. Please keep on empowering Nigerians.”

But days before the presentation of the Prado jeep and sundry other gifts to lucky winners, a story made the rounds announcing what the writer described as “the stunning decline of Globacom.” The story rehashed a well-worn tale of supposed governance issues at the digital solutions company, a drop in its subscriber numbers and sundry other claims.

The writer began by enumerating a string of game-changing innovations that Globacom brought to the telecom sector. “If per-second billing was a game-changer for the industry, Globacom pulled off another stunt in October 2004 by offering free SIM cards—undercutting competitors selling theirs for ₦2,000. This aggressive price war was only possible for a late market entrant, and Globacom backed it with hefty marketing campaigns, signing Nigeria’s biggest celebrities as ambassadors. By 2004, long before other Nigerian telcos recognized that data, not voice, was the industry’s future, Glo had begun offering 2.5G internet service to 70,000 subscribers. By 2009, it had landed a 9,800km submarine cable in Lagos, showing the depth of its ambition to connect Nigerians to the internet. “We got the people talking,” said one of its ads.”

The writer appears conflicted with his story see-sawing between adulation and vilification. How does one describe a game-changing innovation as a stunt? Praise was soon to give way to a string of jeremiads and hastily cobbled insinuations as to Globacom’s business dealings and financial health.

But the argument was hollow. How, for instance, can a company in poor financial health be the only one operating its own towers and providing jobs for thousands of Nigerian engineers and logistics providers, something the writer admitted requires huge financial outlay?

According to the piece “unlike other major operators, Globacom doesn’t outsource its over 8,700 towers to companies like IHS; instead, it builds and maintains them with foreign technical experts. “The cost of operating those towers alone is enormous, covering energy, security, community engagements, and personnel costs,” said an industry expert.

The writer, not content with Globacom segues into MoneyMaster PSB. “Beyond infrastructure, Globacom has made little investment in its Payment Service Bank (PSB) licence, acquired in 2020, resulting in stagnant growth for the service.”

That line of reasoning was not just defective but egregious in nature because MoneyMaster remains at the forefront of deepening financial inclusion in Nigeria. In September 2023, MoneyMaster announced an 8% annual interest on savings accounts for millions of its G-Kala customers.

A story in BusinessDay captured the development. “MoneyMaster PSB, initiated by Globacom, a digital services company, has announced 8 percent annual interest on G-Kala’s savings account. Both new and existing G-Kala savings account owners will enjoy an 8 percent interest rate per annum for all deposits made into their G-Kala savings account.”

And just a few weeks after the article was published, the Lagos state government lauded MoneyMaster PSB for “for its support and participation in the state’s ‘Ounje Eko’ initiative.”

MoneyMaster PSB is one of the collecting banks for the Ounje Eko initiative which offers a weekly food discount market where Lagos residents can buy a variety of food items at a discount of 25 per cent.  

MoneyMaster aside from deepening financial inclusion via the initiative is doing what Globacom has always done best, empower Nigerians.

But traducers will always traduce and so instead of focusing on Glo’s spreading of joy and continuing empowerment of Nigerians the focus remains instead on issues that seem to belie the company’s giant strides.

The recent departure of a top executive was recently highlighted as proof positive of the company’s declining fortunes but anyone with a modicum of understanding of the corporate space will realise that there is a human resource term for hires that go south pretty quickly.

Every company has its culture and where a new employee decides that the culture is not in alignment with their aspirations, they are free to leave. The story failed however to highlight the well-known fact that Globacom holds the industry record for executives who leave the company only to return.

Since the Festival of Joy promo commenced in October 2024 and after the first draw in Warri, draws have been held subsequently in Lagos, Abuja and Ibadan and at each event lucky subscribers have gone home with mouth-watering prizes amid glowing testimonials of Globacom’s empowerment.

Hear civil engineering contractor Ayobami Adejumo who was presented a Prado jeep by the Special Guest of Honour, the Deputy Governor of Lagos State, Dr. Obafemi Hamzat at a ceremony in Lagos “I still can’t believe it. A call came from Globacom and the news was too good to believe. I thank Glo immensely for this prize. I will use the jeep personally; it will enhance my status and help me to get more jobs as a civil engineering contractor”.

As Globacom continues to spread joy and empower millions across Nigeria despite the shenanigans of naysayers, even the blind can “see” that, to paraphrase a well-known quote by Mark Twain: “the reports of Globacom’s decline are greatly exaggerated”

Kan is a PR expert, financial analyst and former Head of PR at Globacom.