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9mobile

“Can a distant-fourth Nigerian MNO monetize its subscriber base through telco-VAS financial services (Migo airtime loans, USSD credit) without a mobile-money license?”

Founded2007
HQLagos, Nigeria
Total raised$230M
IndustryTelecom / Mobile Network Operator

The story

EMTS launched in 2008 as Etisalat Nigeria, the Emirati carrier's Nigerian franchise. After a 2017 debt/ownership crisis with Etisalat, the business was rebranded 9mobile and operates as an independent Nigerian MNO. Its embedded finance footprint is narrow — a USSD-based microloan product (*561#) delivered in partnership with Migo, plus web-based airtime/data top-up with card and bank payments — reflecting the standard Nigerian telco model where financial services are layered onto voice/data as VAS rather than an MMO/mobile-money license play like MTN MoMo or Airtel Money.

Last 12 months

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Product timeline

2007

EMTS granted Unified Access Service License by the Federal Government of Nigeria· licensing

2008

Commercial launch as Etisalat Nigeria with '0809uchoose' number-selection offer· launch

2016

Launched 4G LTE service in Nigeria· product

2017

Rebranded from Etisalat Nigeria to 9mobile following ownership transition· pivot

Regulated entities

regulatory licence held by 9mobile

Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.

The stack

1 layer disclosed in 9mobile’s embedded-finance stack

Lending

MigoMigo Loan (₦1,000–₦100,000, 14 days at 15% interest, accessed via *561# USSD)

Accounting gap: none

9mobile — frequently asked

Who provides 9mobile's lending?

9mobile's lending and capital products are provided by Migo.

Where is 9mobile headquartered?

9mobile is founded in 2007 and headquartered in Lagos, Nigeria.

How much funding has 9mobile raised?

9mobile has raised $230M in total.

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