Gravitas, 9mobile Agree to Provide Banking, Telecom Services on Gracefield Island

Chibuzor Oluchi

Gravitas Investments Limited has sealed an agreement with a leading telecommunications service provider, 9mobile to provide banking, data and telecom services on Gracefield Island, a purposely designed smart city built on 60 hectares of land in Lagos State.

 The agreement was sealed at a meeting held on the island recently after Chief Executive Officer, Mr Olufemi Babalola and Chief Financial Officer, 9mobile, Mr Philips Oki discussed core areas of partnership.

  Gracefield Island, about 2.3 kilometres into the lagoon from the shoreline of Chevron, was conceived by Gravitas Investments Limited to provide ideal, smart and sustainable homes.

Addressing the meeting comprising principal executives of Gravitas and 9mobile, Babalola first acknowledged that it was one thing for the company to conceive Gracefield Island and another thing for the partners to understand, embrace as well as buy into it.

On this ground, the chief executive expressed excitement that the telecom giant “truly understands the vision driving Gracefield Island and that 9mobile is part of the vision. It has demonstrated its appreciation of the initiative from the onset 

Babalola, however, observed that there were glitches in the course of the relationship, but those hitches were resolved with the support of the IT professionals.

He said: “With the array of 9mobile team at this meeting, it shows the telecom giant is recommitting itself to what we have set out to achieve. Particularly, it pleases us to have the 9Payment Service Bank (9PSB) on the island.

“I think the telecom company must have just decided that it is on the back of our infrastructure that the banks are delivering their services. It was Bill Gates that said it years ago. Banking is necessary. But banks themselves may not be necessary. Telcos seem to be on that path, bringing banking to everyone.”

 He also expressed the readiness of his team to build a smart and sustainable city on Gracefield Island, which according to him, was anchored on sustainability, functionality, security, safety, healthy living and excellent aesthetics and resilience

 Babalola said: “People talk about smart cities and sustainable cities. We are configured to provide an ideal city on Gracefield Island. It is not something we are adding to a city we are building. It is an integral part of what we are doing.

“It may not be obvious now. In a few years, everything we are doing to Gracefield Island will be obvious. Almost all plans on the island will need to ride on telecom technologies. This is the time that 9PSB should be on Gracefield Island.”

Oki, who stood in for Chief Executive Officer, 9Mobile, Juergen Peschel at the meeting, acknowledged that the telecom giant would never take partnership with Gravitas for granted, citing its significance for business expansion.

He said: “We cherish this relationship. Gracefield Island is our baby. We are here to take relationships to the next level. For me, as a person, this is my future home.

“I am from the riverine area. I am more comfortable on the water as you can see. This is our Island. All other companies will learn from this model as we progress. With this model, we will deliver at the right time,” the chief financial officer said on behalf of the 9mobile team.