Glo: A decade of double win
“Without ambition one starts nothing. Without work one finishes nothing. The prize will not be sent to you. You have to win it.” – Ralph Waldo Emerson
The above quotation by Ralph Waldo Emerson (1803–1882), the American philosopher and poet, captures vividly the accomplishment, strong dedication, innovativeness, hard work and courage that characterise the personality of Dr Mike Adenuga Jr. This manifests poignantly at the just held Silver Jubilee Anniversary Celebration by Thisday Newspapers where Dr Mike Adenuga Jr. the debonair, suave billionaire business man emerged Entrepreneur of the Decade while his iconic telecom brand, Glo won the Brand of the Decade Award, respectively.
The well-attended event at the high octane, massive hall of Eko Hotel & Suits, Lagos witnessed the celebration of the business mogul (and his brand) popularly referred to as the Bull by close confidants.
Though represented at the high-end event by his daughter and Vice Chairman of Globacom, Mrs Bella Disu, the Glo family glowed that night by being the cynosure of all eyes.
Reflecting on Dr Mike Adenuga Jr.’s historical and entrepreneurial trajectory vis-à-vis the adventure of Glo in the Nigerian telephony market, there is a sense in which it can be safely assumed that the man is the brand and the brand is the man! Infact, there can be no divorcing the DNA of the BULL from brand Glo’s DNA, a socio-psychological mix that has helped to create both a myth and a mystique in the minds of the people.
The revolution which the Bull and the Glo brand have been leading in the Nigerian corporate landscape creditably gives credence to the proverbial battle that is believed to be raging in the business world for some time, and it’s a battle that affects many businesses. In one camp are people who want to improve everything in business. If there’s an issue, they aren’t content unless they come up with a brand new solution for it. On the other side are people who believe hard work is the solution. If there’s a problem, they’re willing to put in the effort necessary to fix it, working hard no matter the cost.
Recent studies and research reveal this bipartisan thinking. Eighty-four percent of executives say the key factor in a business’s growth strategy is innovation. Another twenty-five percent say it is hard work. In reality, innovation and hard work have been cornerstones of the business world for years. And none is actually more important than the other because you can’t have a successful business without both strategies. While change is implemented through hard work, innovation has been proven to lessen people’s workload by improving procedures. In other words, the two strategies work together to help businesses grow and prosper.
If there is any man who has successfully proven that innovation and hard work need to co-exist for business growth and leadership, that man is Dr Adenuga. And in recognition of his innovative and relentless commitment to growing the Nigerian economy through constant investments in its key sectors, Africa’s leading businessman and Chairman of Globacom Limited, Dr Adenuga Jr., was voted Entrepreneur of the Decade. He won the award at the Silver Jubilee Anniversary of ThisDay Newspapers held at Eko Hotel & Suites in Lagos, recently.
Globacom, the firm with which Dr Adenuga positively disrupted Nigeria’s telecom market about 15 years ago, was also named the Brand of the Decade at the event, which was attended by government officials, captains of industries, political and entertainment heavyweights. Glo emerged as Brand of the Decade in the “People’s Choice” category, while Dr Adenuga clinched the Entrepreneur of the Decade award in the Editor’s Choice category.
Dr Adenuga has, through his investments in critical sectors such as telecommunications, oil and gas, real estate and banking, become “a major pillar of the Nigerian economy”. He is the Chairman of Mike Adenuga Group which includes Globacom Limited, Conoil Plc, Conoil Producing, and Continental Oil and Gas Ltd.
On the choice of Globacom as Brand of the Decade, the organisers noted that the company was selected by the majority of respondents in a poll conducted by ThisDay. They stated that since the launch of the company in 2003, Glo had redefined the telecoms landscape through an array of innovative products and services.
Globacom’s Executive Vice Chairman, Mrs Bella Disu received the award on behalf of Globacom, while Miss Folasade Michael-Adenuga, Group Executive Director of Globacom, received the plaque of Entrepreneur of the Decade on behalf of her father.
In Mrs Disu’s word: “Being affirmed so strongly by those we serve is indeed the highest honour. I thank all our millions of subscribers for their continued support.”
Recall that Glo was also recently honoured on the global stage, winning the Telecom Brand of the Year Award at the World Branding Forum in Kensington Palace, London.
PROFILES
Michael Adeniyi Agbolade Ishola Adenuga Jr., GCON, was born 29 April 1953. Dr Adenuga received his secondary school education at Ibadan Grammar School, Ibadan, and Comprehensive High School, Aiyetoro, for his Higher School Certificate (HSC).
He worked as a taxi driver to help fund his university education. He graduated from Northwestern Oklahoma State University and Pace University, New York, with degrees in Business Administration.
In 1990, he received a drilling license and in 1991, his Consolidated Oil struck oil in the shallow waters of Southwestern Ondo State, the first indigenous oil company to do so in commercial quantity.
He was issued a conditional GSM licence in 1999; after it was revoked he received a second one when the government held another auction in 2003. His telecom company Globacom spread quickly and started challenging the giant MTN Group.
He was named African Entrepreneur of The Year at the first African Telecoms Awards (ATA) in August 2007.
It launched services in Benin in 2008, and has continued its spread across Ghana and Côte d’Ivoire, with more licences currently being prospected in other West African countries.
In 2012, he was made Grand Commander of the Order of the Niger by the government of Nigeria. He also holds a Yoruba tribal chieftaincy as the Otunba Apesin of the Ijebu clan.
In May 2015, Adenuga made a takeover bid to purchase Ivorian mobile telecoms operator Comium Côte d’Ivoire for $600 million.
Adenuga is a Nigerian billionaire businessman, and the second-richest person in Africa.
His company Globacom is Nigeria’s second-largest telecom operator, which has a presence in Ghana and Benin.
He owned stakes in the erstwhile Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company). Forbes has estimated his net worth at $8.9 billion as of November 2019.
Globacom Limited, commonly known as Glo, is a Nigerian multinational telecommunications company founded on 29 August, 2003 by Mike Adenuga
GLO is privately owned by the Mike Adenuga Group which also consists of Cobblestone Properties and Estates, a real estate and property development company, Conoil PLC, a petroleum marketing company, and Conoil Producing, a crude exploration and production company.
In 2005, Glo Mobile introduced the Glo Fleet Manager which is a Vehicle Tracking Solution. Glo Fleet Manager helps transporters/fleet operators manage their fleet. They also introduced the Glo Mobile internet service which provides subscribers with access to internet sites which have been customised for mobile phone browsing.
In 2006, Glo Mobile introduced BlackBerry. It started the sponsorship of the Confederation of African Football African Player of the Year Award. The company also started the sponsorship of Glo Lagos International Half Marathon.
In 2009, Glo Mobile launched Blackberry prepaid services which gives subscribers options to pay daily, weekly or monthly for the service. Blackberry prepaid service gives subscribers free yahoo mail access and free blackberry messenger. The company also launched 3G High Speed Internet services through the sale of its 3G modem. Glo Mobile 3G network is available in Lagos, Abuja, Benin and PortHarcourt.
In 2011, GLO became the first telecommunication company to build an $800 million high-capacity fibre-optic cable known as Glo-1, a submarine cable from the United Kingdom to Nigeria. It is the first successful submarine cable from the United Kingdom to Nigeria.
GLO collaborated with MTV on The Big Friday Show in 2012. This alliance made the show more interactive and gave viewers the opportunity for live appearances on the show. There was an added benefit of GLO subscribers winning the network’s products every week.
In April 2013, GLO introduced the singing reality television show, the X Factor to Africa. The auditions were held in Nigeria and Ghana, with the ultimate prize being a $150,000 cash reward as well as a deal to be managed and produced by Sony Music to record an album.
As of June 2018, the company has employed more than 3,500 people worldwide.
GLO has over 45 million subscribers (as at December 2018), making it the second largest network operator in Nigeria. GLO ranks third in internet data subscription with 27.4 million subscribers according to data released by Nigeria telecommunications regulator, NCC in January 2019.
Globacom has the following strategic business units: Glo mobile, Glo Broad Access, Glo Gateway and Glo-1.
The corporate mind of Globacom, the iconic corporate brand, is reflected in its vision which states: “At Globacom we hold our vision with very high esteem. This keeps it moving forward and pushes the brand to be the best while propelling it into the future. This vision it says, “is about you”.
It has soared high in its aspiration to build Africa’s biggest and best telecommunications network with millions of subscribers in Nigeria and Ghana.
It has made history as the first single company to build a high-capacity sub marine fibre-optic cable, popularly known as Glo-1, the first successful submarine cable from the United Kingdom to Nigeria; with the attendant high increases in internet speeds and download rates with resultant significant improvements in online technologies.
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