United Kingdom based Venture

Deals D000037
Description The cellphone revolution answered the first demand wave for basic communications services as people became more mobile in SSA. The number of subscribers on the continent has grown almost 20% each year for the past five years. The next logical solution is internet services but internet penetration has only marginally made its impact in Africa relative to other parts of the world. Since 2007 penetration in simple basic internet has risen from 4.7% to approximately 11.5% penetration (with wide country variances), and the true capabilities and potential population reach has been limited by lack of accessibility, affordability, and utility to users. Thomas Global Technologies, Inc. (TGT) is focused on the development and deployment of a practical communications technology solution in Africa to target this emerging opportunity. TGT will deploy an affordable, and high speed broadband internet based on a WiMax/LTE solution. The company will use a familiar access means for consumers based on prepaid cards available through phone card vendors . The business model is based on serving the broader population of ~300mm in the ECOWAS region.
Country Of origin United Kingdom
Funding Sector Impact Investment
Colloboration Type Strategic partnerships