Tizeti eyes pan-African expansion, explores public offering

9 Aug 2022

West African solar-based internet and voice service provider Tizeti has revealed that it is set to widen its operations within Nigeria and Ghana, and plans to expand into neighbouring countries Cote d’Ivoire and Togo, in line with its commitment to bridge the digital gap in the region. The firm is also exploring an Initial Public Offer (IPO) with the listing of its Nigerian subsidiary on the stock exchange. Tizeti claims it currently has over 2.8 million subscriptions on its platform, and targets 39 million new internet users in Nigeria and Ghana.

‘This expansion is very strategic for us and for the continent. We have grown significantly within the last few years, being profitable in three out of the last four years and paid our first dividend this year. We currently have over 3,884 hotspot locations and built one tower every month since we started, with 2.8 million users in Nigeria. Today, Tizeti delivers over 190Tbps of data a day, which is about 20% of what large Nigerian telcos with coverage in 36 states deliver,’ stated Tizeti’s founder and CEO Kendall Ananyi, adding: ‘Using publicly available data on the website of the Nigerian Communications Commission (NCC) and our internal data, we are the number one fixed ISP by users and active users in Nigeria today and the ISP of the year 2022. And there’s still so much room for growth. Internet users in Africa are still about 26% of the total population, with almost 900 million people unconnected. We are now exploring the public markets for equity/debt to fund our next growth phase. We have reserved our ticker at NASDAQ, and are exploring the London Stock Exchange … as well as the Nigerian Exchange (NGX).’

Tizeti has also launched a new connectivity offer, Tizeti Turbo Connect, which provides speeds of up to 150Mbps to fibre-connected capacity to homes and offices, for NGN60,000 (USD143), and a new technology that allows it to deliver speeds of up to 1Gbps.

Nigeria, Tizeti