234-A Muri Okunola St. Victoria Island, Lagos, Nigeria +1-234-774-7082
This is no longer the website for Oracom Communications. Oracom does not currently operate as a going concern in Nigeria. This website is a chronicle of what was Oracom. Hopefully the lessons of Oracom will serve to help other entrepreneurs learn from our mistakes and give them some tools and information that might help to make them more successful.
Oracom's business plan and financial spreadsheets will be placed here, as well as some internal memos with useful information.
History
Oracom Communications, Ltd. was originally incorporated as Broadband Nigeria, Ltd in early 2001 by Ayodele Aderinwale and Robert Honerkamp. Otunba Oyewole Fashawe became its chairman after making an investment commitment. BBN received an ISP license from the NCC under the condition that it change its name- the NCC felt that "Broadband Nigeria" implied that BBN was the only broadband provider in Nigeria. As a result, the company was renamed Oracom Communications Ltd. (the ORA in Oracom stands for the three founder's first names: Otunba, Robbie, Ayo).
On recepit of the ISP license, Oracom set about obtaining licenses for the two radio frequencies it needed. The company spent most of 2001 working with the Ministry of Communication, NCC, and National Broadcasting Commission to obtain the licenses. The three organizations each felt that they were the proper body to issue the license.
In Fall, 2001 the NCC won the fight to control the frequency licenses. However, the NCC's chairman decided that the NCC would not issue licenses for the frequencies Oracom requested- instead, they requested that Oracom participate in the auction for 3.5Ghz licenses. Unfortunately, the auction for these licenses was constantly postponed (it eventually happened in three years later, in 2004), and the delay was not acceptable to our investor.
In November 2001, Robbie Honerkamp returned to the United States. In early 2002, Oracom's lease for its offices on Muri Okunola St. was allowed to expire. In 2003 and 2004, Oracom bid for Delta, Edo, Lagos, Ogun, Ondo, Oyo, and Rivers state licenses in the NCC's 3.5GHz fixed wireless auction. It won licenses for Ogun, Oyo, Ondo, and Edo at a cost of N450,000,000 (the price was about 16% higher than other bidders received the same licenses for). The license terms required that it begin service within six months or forfeit the licenses. Oracom was unable to pay for the licenses and never received them.
Officers and Management
Locations
Oracom's main office was to be at 234A Muri Okunola St in Victoria Island. However, to maximize its wireless coverage, its wireless head-end would be located on the Lagos mainland. Several locations were looked at, including a tall building in Surulere whose top floors and penthouse suite were available, and Stallion House in Ikeja. Oracom also considered several plots of land in high areas of Ikeja where it could build a tall mast. No final decision was ever made, as the difficulties in getting radio frequency licenses overshadowed everything.