Cellular product distributor Allied Mobile Africa has secured $55 million (R800 million) funding deal with the Public Investment Corporation (PIC). By Staff Writer
The debt funding facility is to drive the company’s growth in South Africa as well as their expansion on the rest of the African continent.
From its inception in 2003 Allied Mobile has grown to be the dominant, cellular product distributor and 3rd-party logistics provider to the mobile telecommunications industry in Africa.
Allied Group owns a substantive share of Virgin Mobile South Africa.
Leveraging its leadership position in South Africa and other existing markets, Allied Mobile has been rapidly expanding its presence into a group of high-growth African countries, with sales volumes expecting to grow between 15% and 20% annually. These countries include Mozambique, Namibia, Zambia, Uganda, Rwanda, DRC, Angola, Zimbabwe, Lesotho, Swaziland, Botswana and Kenya.
“Since these countries are at different economic and technological stages in the development cycle, Allied has to approach these markets with a tailored product offering and a strategy to address specific local needs,” said Allied Group’s CEO Jacqueline Cole-Courtney.
“Allied’s objective is to be present in every country in Africa and the recent funding from the PIC will assist us in achieving this.”
The company has operations across the fast growing sub-Saharan telecommunications market and is ideally positioned to capture growing needs of consumers in this space. Its total addressable market comprises 26 countries in the Africa region, with a total population of over 700 million.
“Communications remains an important element for the economic growth of any country. We are, therefore, happy to provide funding that seeks to unlock economic potential of countries in which Allied Mobile Africa operates. Our funding supports our objective of investing towards development here in South Africa and the rest of the African continent,” said Daniel Matjila, CEO of the PIC.
