Nigerian Solar-based Internet Provider, Tizeti to Expand Into More African Countries
Cote d’Ivoire and Togo are two new adjacent nations that the Nigerian solar-powered internet service provider Tizeti has stated it plans to operate in addition to expanding its operations within Ghana and Nigeria. Additionally, the corporation is thinking of listing its Nigerian subsidiary.
The company is investigating an Initial Public Offer (IPO) in the stock market for investors/shareholders with its eyes set on expanding its footprints across the Francophone and Anglophone countries in West Africa. The company has over 2.8 million subscribers on its platform, over $26.3 million in revenue over the last ten years, and no debt.
The founder and CEO of Tizeti, Kendall Ananyi, underlined that operators like Tizeti must expand to ensure that more Africans have access to dependable, inexpensive internet in his remarks at the second edition of the company’s annual event, dubbed “NeXTGEN 2.0: The Next Frontier.”
He claims that Tizeti has been employing solar towers to offer inexpensive limitless internet connections in Ghana and Nigeria. The company’s solar-powered internet is special in that it has resulted in savings of between 30 and 50 percent on data cap plans, providing the brand an edge over rivals.
“This growth is crucial for the continent and for us. We have expanded dramatically over the past five years, turning a profit in three of the last four years, and this year we paid our first dividend. With 2.8 million customers in Nigeria, we currently have over 3884 hotspot spots and have built 1 tower per month since we began, according to Ananyi.
The co-founder and co-CEO of Tizeti, Ifeanyi Okonkwo, spoke on the Francophone growth and emphasized the increased submarine cable investments in Africa to date as well as the lack of middle-mile and last-mile infrastructure that moves the capacity where it is required.
Tizeti hopes to close the digital divide and connect more Africans to the internet with the expansion of its infrastructure across West Africa.
We have looked at their populations, their proportional contributions to GDP, the frequency of higher and tertiary institutions, and other pool characteristics, and we feel that Africa presents the most substantial prospective demand for broadband development, said Okonkwo.
