9Mobile has approached an international equity company, Pan African Investment (PAI), to help it shop for fund to enable it pay its numerous creditors and fund its operations.
PAI has the mandate to invest in companies which operate in Sub-Saharan Africa. Headquartered in New York City, PIC holds investments in Ghana, Kenya, Rwanda and Nigeria. PAI’s mission is to identify, invest in and provide solutions that affect growth and development in sub-Saharan Africa. As PIC invests, Africa profits.
PAI is owned by US billionaire Ronald Lauder and former chairman of Citigroup Richard Parsons. A Nigerian, Sylvia Ezeanyika is listed in the company’s management team as Investment Analyst. PAI efforts have however not yielded any tangible results.
eWorldNews also gathered that 9Mobile plans a meeting with Afriexim in Egypt this week in a bid to calm the nerves of the creditor, which is unrelenting in asking for the $251 million short loan it gave to the Nigerian mobile company.
Meanwhile, it was gathered that the embattled company has reached out to Adrian Wood, Managing Director of Teleology Holdings, who recently left the company on account of wrongs he suffered from Nigerian shareholders and board members.
Wood is unhappy that he was schemed out after he had prepared all the technical and financial papers that qualified Teleology Nigeria to clinch the bid. The Nigerian shareholders have also moved against Wood claiming he was planning to take away from Nigeria earnings that would accrue to 9Mobile if he was allowed to stay in 9Mobile.
Nigerian partners were also said to be angry with Wood because he failed to bring foreign monies and interests he promised them.
9Mobile board members move to settle issues with Wood came as he was reported to have gone to court to seek redress.
