Allied Mobile Africa and PIC sign $55 million funding agreement
November 16, 2015
South Africa, 16 November 2015, -/African Media Agency (AMA)/- Allied Mobile Africa(http://www.allied-mobile.com/) announced today that they have signed a strategic finance and partnership agreement with the Public Investment Corporation (PIC) for debt funding facility of $55 million (approximately R800million). The 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 Mobile services a fast-growing mobile communications market in sub-Saharan Africa, which is supported by strong demographic and economic fundamentals. From the provision of full supply chain and logistics services, to full turn-key white-label retail operations enablement, Allied’s market offering and geographical coverage continue to grow as the company leverages favourable market conditions together with its increasing experience, capabilities and relationships. The company is well-positioned to capitalise on associated future opportunities with this new funding from the PIC.
Leveraging its leadership position in South Africa and other existing markets, the Company 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 the Allied Group’s Chief Executive Officer 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. Our geographical expansion program is being conducted in a very cost-effective and efficient manner, as the core operations are run from Allied’s existing Sub-Saharan offices which include eight major hubs and four repair centres located throughout Sub-Saharan Africa, with certain central core functions located in a centralised offshore office, which eliminates the need to duplicate functions,” said Cole-Courtney.
The Company’s operational excellence, strong relationships with both Original Equipment Manufacturers (OEMs) and customers, and a large share of value-added and logistics services (such as supply, customisation, procurement and fulfillment) solidified their leadership position on the continent.
“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 Dr. Daniel Matjila, Chief Executive Officer of the PIC.
Distributed by African Media Agency on behalf of Allied Mobile Communications.
About Allied Mobile Communications
The Allied Group, under the umbrella of the Allied International Investments Ltd, is a diverse Group with interests in the following areas:
* As a value-adding independent specialist Distributor in cellular devices and related products such as mobile handsets, SIM cards, data cards, netbooks, laptops and collaterals. This expertise is potentially translatable to the high-value fast moving consumer electronics sector;
* As a Provider of services to Mobile Network operators, Retailers and Wholesalers;
* As a Provider of a full suite of outsourced “White Label” Retail services within the mobile cellular industry to Network operators not wishing to perform this service themselves; and
* As an Investor with strategic stakes in the telecom space in developing economies. Allied Group owns a substantive share of Virgin Mobile South Africa.
Allied has operations across the fast growing sub-Saharan telecommunications market and is ideally positioned to capture growing needs of consumers in this space. The Company’s total addressable market comprises 26 countries in the Africa region, with a total population of over 700 million.
“The last five years have seen Africa experience the fastest growth in telecoms worldwide. Telecoms are transforming lives in Africa and with the PIC investment we are poised to be able to achieve our business goals as well as accelerate the transformation by supplying affordable smart devices combined with internet access.” Said Eamonn Courtney Chairman of Allied Group.
Allied has a proven track record in the African markets, offering a unique combination of local market expertise and best-in-class business practices, to capture growth in the mobile telecom market in Sub-Saharan Africa.
Tel: + 27 83 772 3555 / +27 11 425 6290
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