What we do: Tizeti builds and operates solar-powered Wi-fi towers for SMEs and private residents in Lagos, Nigeria. The cheaper source of energy due to declining cost of solar panels is passed on to customers who use the internet. Tizeti is a game-changer in the high capex telecommunications tower business which has maintained barriers to entry for smaller start-up companies.
Ownership & Management: The company was founded by Kendall Ananyi (Masters in Computer Engineering, Canada) and Ifeanyi Okonkwo (Maters in Quality Management, UK) who both have longstanding experience in the telecommunications industry. Kendall is the CEO and Ifeanyi is the COO of the company that is well managed and attracted venture capital funding. Tizeti provides high speed broadband internet to residences, businesses, events, conferences and deploys public Wi-fi Hotspots at locations across Africa.
Key financial indicators: Not provided. Tizeti is leveraging the large wireless capacity available with Wi-fi and the plummeting cost of solar panels to create a low capex/opex network of owned and operated towers to offer disruptive customer-friendly pricing for unlimited internet service right across Africa. Tizeti raised US$2.1 million in venture seed capital from international investors which comprise of Technology Investment, Social Capital, VY Capital, Picus Capital, Ace & Company, Lynett Capital Partners and Zeno Ventures.
Track record: Tizeti managed to raise US$2.1m in venture capital funding proving its ability to reach a large market with its disruptive technology that is powered by solar.
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