13/04/2026
GLOBACOM OUR GLOBACOM
Strategic Advisory Note: Repositioning Globacom for Market Relevance and Growth
The recent performance trajectory of Globacom suggests a period of stagnation; however, this decline is both reversible and strategically recoverable. Nigeria’s telecommunications market remains sufficiently deep, with ample headroom for late movers to innovate, differentiate, and reclaim competitive positioning.
1. Corporate Governance Reform as a Catalyst for Transformation
In alignment with evolving regulatory expectations: particularly the corporate governance guidelines issued by the Nigerian Communications Commission, Globacom is required to implement key structural reforms by July 2027. These include:
Appointment of a substantive Chief Executive Officer (CEO)
Separation of the roles of Chairman and CEO, with the Chairman serving strictly in a non-executive capacity
This regulatory mandate presents a strategic inflection point rather than a compliance burden. Properly executed, it will enhance:
Organizational transparency
Board independence
Executive accountability
Recommendation:
Globacom should immediately engage a globally reputable executive search and telecom advisory firm to:
Reconstitute its board with experienced, independent directors
Recruit a high-caliber executive management team with proven telecom turnaround experience
Establish a governance framework aligned with global best practices
This intervention will be critical in restoring investor confidence, improving operational discipline, and repositioning the company for sustainable growth.
2. Market Opportunity: Leveraging Brand Equity and Expanding into Fibre
Despite current challenges, Globacom retains significant brand equity, particularly as a proudly indigenous operator. This cultural positioning remains a powerful lever for reconnecting with Nigerian consumers.
However, future growth must extend beyond traditional mobile services.
Strategic Expansion Areas:
FTTB (Fibre-to-the-Building)
FTTH (Fibre-to-the-Home)
These segments represent high-growth, underserved markets, especially in urban and semi-urban clusters.
Advisory Direction:
Deploy aggressive fibre rollouts in state capitals, commercial hubs, and high-density residential areas
Bundle services (broadband + voice + enterprise solutions) to increase ARPU
Leverage existing backbone infrastructure to reduce rollout costs
Furthermore, Globacom can maximize its national carrier license by:
Reintroducing fixed-line services over fibre (VoIP-based landlines)
Targeting SMEs, government institutions, and enterprise clients
Positioning itself as a digital infrastructure provider, not just a mobile operator
This represents a potential market disruption opportunity, particularly in underserved fixed broadband segments.
3. Infrastructure Optimization: Tower Monetization Strategy
Globacom’s tower infrastructure presents a significant opportunity for balance sheet optimization.
Recommended Strategy: Sale-and-Leaseback Model
Divest tower assets to established tower companies such as:
American Tower Corporation (ATC)
Pan-African Towers (PAT)
Lease back capacity under long-term agreements
Benefits:
Immediate capital injection
Reduced operational and maintenance burden
Improved financial flexibility
Capital Redeployment Priority:
Proceeds from the transaction should be channeled into:
Rapid FTTB/FTTH network expansion
Last-mile connectivity infrastructure
Customer acquisition and service innovation
This approach will enable Globacom to transition from a legacy infrastructure-heavy model to a more agile, service-driven architecture.
Conclusion
Globacom’s recovery is not only feasible, it is strategically attainable with decisive leadership, governance reform, and targeted infrastructure investment.
By:
Strengthening governance structures
Aggressively expanding into fibre broadband
Optimizing existing assets
Globacom can reposition itself as a formidable contender in Nigeria’s evolving digital economy, moving from decline to renewed relevance and long-term competitiveness.
