Afrimax Group, a fast emerging mobile network operator in Africa, has secured $120 million of growth funding from a consortium of investors led by Japanese conglomarate, Mitsui to accelerate the rollout of its leading edge LTE-led business model across multiple African markets. The investment round also saw the participation by a number of other private investors including Spain’s Torreal, and existing shareholders Four G Capital, and the IFC, which is part of the World Bank Group.
Afrimax holds TD-LTE, 4G Licence footprint across 12 African countries with a total population of 222 million.
In November 2014, Vodafone and Afrimax Group jointly signed Partner Market agreements in the sub-Saharan Africa region. Under this framework agreement, Vodafone Uganda was launched in February of this year combining the deployment of new high speed 4G networks with the use of existing infrastructure for 2G and 3G services.
Nobuaki Kitamori, COO of IT & Communication Business Unit of Mitsui
We are excited by the growth opportunities in Sub Saharan Africa, where Afrimax has secured one of the industry's largest footprints of 4G licences, and plan to rapidly replicate the successful launch of Vodafone Uganda. With the support of our fellow Shareholders, we look forward to building one of the region's leading next generation MNOs.
