Starcomms is the first telecommunications operator in Nigeria to be listed on the domestic Exchange. With a vast network of over 3.2 million subscribers, it is the fourth largest telecommunications operator and largest CDMA 3G Mobile network in the country.
Today, Starcomms holds a presence in 38 major cities, covering 182 towns. This is indeed a rosy introduction. Starcomms used to matter. Their financial woes took them to the stock market where they met Nigerian investors that never like anything that is not oil, finance or conglomerate. Tech companies end up trading as junks in the exchange. Check Omatek, Chams and you will agree.
CHAMS
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| Trade Date | 19 July, 2011 | Currency | NGN (NIARA) |
| Last Trade | 0.50 | volume | N/A |
| Net Change | +0.00 | Value | N/A |
| % Change | +0.00 | Issued Shares | 4,620,600,000 |
| Open | N/A | Market Cap. | 2,310,300,000.00 |
| Today’s High | N/A | Bid | N/A |
| Today’s Low | N/A | Ask | N/A |
SSTARCOMMS
| Trade Date | 19 July, 2011 | Currency | NGN (NIARA) |
| Last Trade | 0.55 | volume | 1,463,630 |
| Net Change | -0.02 | Value | 818,673.40 |
| % Change | -3.51 | Issued Shares | 6,878,478,096 |
| Open | 0.57 | Market Cap. | 3,783,162,952.80 |
| Today’s High | 0.57 | Bid | N/A |
| Today’s Low | 0.55 | Ask | N/A |
OMATEK
| Trade Date | 19 July, 2011 | Currency | NGN (NIARA) |
| Last Trade | 0.50 | volume | N/A |
| Net Change | +0.00 | Value | N/A |
| % Change | +0.00 | Issued Shares | 2,941,789,472 |
| Open | N/A | Market Cap. | 1,470,894,736.00 |
| Today’s High | N/A | Bid | N/A |
| Today’s Low | N/A | Ask | N/A |
Visafone looks healthy but the underlining business is shaky. The same goes to the conquered Multilinks.
So what can these CDMA companies do? Merge or let acquisitions take place among them. They need scale to avoid customers decamping to the GSM juggernauts of MTN, Glo and Airtel. The financial challenge of doing business in Nigeria in onerous. They have to understand that and gang up.
Tekedia predicts that within five years, these CDMA will be exiting the stage if they do not come together.