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Nigerian mobile operator Globacom signed a multi-year contract to purchase wholesale telecom capacity from French satellite operator Eutelsat Communications.

French President Emmanuel Macron and his Minister Delegate for foreign trade attractiveness Franck Riester, witnessed the documents materializing this commercial agreement by Mike Adenuga Junior, Globacom’s Chairman, and Rodolphe Belmer Eutelsat’s CEO.

Mike Adenuga Junior said, Globacom will be able to "extend connectivity to the most remote areas of Nigeria, in line with our ambition to build the largest and most powerful telecommunications network in Africa. This infrastructure will complement the connectivity provided by our Glo 1 submarine cable and our extensive fiber network that spans the entire country.”

The agreement signed between Globacom and Eutelsat Communication comes ahead of the "new Africa-France summit" held in Montpellier which famous Nigerian businessman will attend. According to the latest statistics from the Nigerian Communications Commission (NCC), Globacom is the second largest telecom operator in the country with 27.5% market share, behind MTN. In a market where the broadband Internet penetration rate is 41%, Globacom is targeting new consumers who will contribute to increasing its revenues.

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