Algo Communications has established interests in Aquiva Wireless (Pvt) Ltd an Internet Access Provider licensed by government to develop telecommunications infrastructure and services in Zimbabwe. Aquiva Wireless has over the years deployed a 200km Optic Fibre Network in Harare Metro (Capital City), a Fixed and Nomadic Wireless Broadband Network, Countrywide Satellite Network, Global Voice over IP (VoIP) services with own licensed Number Prefix.
Algo Communications holds equity in Aquiva Wireless (Pvt) Ltd as approved by Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) in Q4 2017 and ratified by Aquiva Wireless (Pvt) Ltd board of Directors in Q1 2018. The Internet Access Provider has established connectivity in Harare City Metro through a deployed Optic Fibre Network stretching approx 200Km (two hundred kilometers) servicing dark and lit fibre customers accessing broadband services direct from the company and through Internet Service Providers leasing capacity from Aquiva Wireless infrastructure. Aquiva Wireless has interconnection agreements concluded, signed and established with other licensed operators including Econet Zimbabwe, Telecel Zimbabwe, TelOne, Liquid Zimbabwe and Dandemutande while NetOne Zimbabwe is at activation stage. The Internet Access Provider holds an approved international fibre gateway license which allows establishment of a cross border fibre gateway into South Africa through Beitbridge Border Post and has an allocated frequency channels in 2.6GHz band with an operating 802.16e WiMax wireless broadband network currently being migrated to Long Term Evolution (LTE) to provide fixed and nomadic broadband connectivity.
Algo Communications is there raising capital for telecommunications ventures leveraging on the license to support businesses and industry to achieve business transformation through embracing digital transformation. The capital being sought is expected to cover Infrastructure Development, Research & Development targeting to establish lending services and a payment gateway for the SADC and COMESA Region who has a population of approx 690million people.
Company is seeking an investment of upto US$12,312,235.00 to capacitate projects for.
Venture Seeking $3,294,637-68 (Three Million Two Hundred and Ninety Four Thousand Six Hundred and Thirty Seven United States Dollars and Sixty Eight Cents)
Venture seeking US$1,349,847-35 (One Million Three Hundred and Forty Nine Eight Hundred and Forty-Seven United States Dollars and Thirty Five Cents)
Business seeking US$552,000 (Five Hundred and Fifty Two Thousand United States Dollars)
Venture Seeking US$7,115,751-83 (Seven Million One Hundred and Fifteen Thousand Seven Hundred and Fifty One United States Dollars and Eighty Three Cents
Total Investment Targeted:
US$12,312,235 (Twelve Million Three Hundred and Twelve Thousand Two Hundred and thirty-five)
Cost effective communication solutions; 60% youthful population; estimated 80% of businesses are Small to Medium Enterprises; strategic geographical positioning of the country with four neighboring countries requiring redundant regional interconnectivity; Labour force is at 5.634 million; Country has only one fixed telephone service provider with challenges to service businesses countrywide; 110% mobile penetration rate. Market is opening up to regional and international integration being achieved through political economic reforms underway since November 2017. Country has a total population of 16,529,904million (Zim) World Bank 2017 and has access to 690 million inhabitants within the economic region (Regional Population includes SADC & COMESA).
(Twelve Million Three Hundred and Twelve Thousand Two Hundred and thirty-five)