By KAYODE AKINYEMI
When Globacom Nigeria Limited (Glo) made its debut in the Nigerian market in 2003, not much expectation was placed on it as a late arrival into the telecommunications space owing to the first movers’ advantage earlier enjoyed by two foreign mobile telecom firms that had entered in 2001. The odds were heavily stacked against the new entrant, as a significant chunk of the market had been shared by the two pioneers.
Again, being a wholly Nigerian enterprise in a sector and terrain that were largely unfamiliar, new, and uncharted, the omens did not look good. More daunting was the heavy capital outlay involved and the plethora of challenges to overcome in the areas of manpower, capital, and technical expertise, among others. For the lily-livered businesspersons, these challenges were enough to seek investment opportunities elsewhere.
However, Otunba Dr. Mike Adenuga Jr., the astute billionaire founder and chairman of Globacom, confronts and overcomes mountain-high challenges as his favourite pastimes. He likes fishing in deep waters where the catch is worth the effort. Having plunged headlong into the venture, there was no going back. Almost immediately, his business acumen, unrelenting drive, momentum, and incredible conquests on the field began to manifest in dazzling heights. The idea that was then conceived, nurtured, and passionately followed through has today become a business behemoth that employs tens of thousands of Nigerians, directly and indirectly.
