Tizeti, a pioneering solar-based internet service provider in Nigeria, announced its plans to go public on the Nigerian Exchange (NGX) on Friday.
Founded by Kendall Ananyi in 2011, Tizeti has grown significantly, providing affordable unlimited internet to over 2.8 million subscribers and generating over N11 billion in revenue over the past decade.
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Tizeti expansion plans
Tizeti aims to expand its operations beyond Nigeria and Ghana into markets like Côte d’Ivoire and Togo.
Ananyi emphasised the need to bridge Africa’s digital divide, stating, “This expansion is very strategic for us and for the continent.”
The company has built more than 3,884 hotspot locations and delivers around 190TBPS of data daily, which is about 20 percent of what larger competitors provide. With no debt and profitability in three of the last four years, Tizeti is well-positioned for this IPO.
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The road ahead
The upcoming IPO is part of Tizeti’s strategy to raise capital for further growth and infrastructure development.
Ananyi noted that the company has reserved a ticker at NASDAQ and is exploring listings on other exchanges. “We believe that Africa offers the most significant potential demand for broadband expansion,” said Ifeanyi Okonkwo, co-founder and COO.
By leveraging its innovative solar technology, Tizeti aims to enhance connectivity across West Africa, ultimately contributing to a more digitally inclusive continent.