07 June 2023
Nexttel Cameroon is searching for new ‘strategic partners’ after its international investor Viettel exited the business.
The MNO was launched in 2014 as a joint venture between Viettel Global Investment Joint Stock Company and Bestcam, a local shareholder. The partnership collapsed after shareholders disagreed over the running of the business. Bestcam also reportedly accused Viettel of employing Vietnam nationals ahead of Cameroonians. The impasse severely impacted Nexttel Cameroon, as new investments in infrastructure were stalled, affecting the rollout of key projects such as Nexttel’s mobile money solution Possa.
Nexttel is now looking for new partners and will soon be dispatching teams abroad to search for potential investors. The company said that it is keen on repositioning itself, and with new partners, intends to expedite network buildout to compete with peers MTN, Orange and Camtel.