25 Jan YuuZoo Sells New Franchise License To Telco In Congo, The Second Largest Country In Africa, As It Reinforces Its Strong Presence On The Continent
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YuuZoo Sells New Franchise License To Telco In Congo, The Second Largest Country In Africa, As It Reinforces Its Strong Presence On The Continent
- Latest license sale follows YuuZoo’s successful penetration into Nigeria, the largest market in Africa, with Etisalat, the leading telco in Middle East and Africa.
- The new license sale gives YuuZoo an even stronger footprint in Africa as it now enters Africa’s second largest market, the Democratic Republic of Congo.
- Joining YuuZoo’s growing list of franchisees is Telkonex, an emerging Telco player in Congo, targeting a domestic population of over 80 million with YuuZoo’s e-Commerce, sports, games and payments platforms.
Singapore, 24 January 2017: Singapore Exchange listed YuuZoo Corporation Limited (“YuuZoo” SGX:AFC) – one of the world’s fastest growing third generation social e-commerce networks – today announced the sale of a Franchise License to Telkonex, a new telco operating in the Democratic Republic of Congo.
The license sale further boosts YuuZoo’s progress as it continues to build a strong presence on the African continent. Telkonex will focus on the entertainment, celebrities and sports segments, all sectors that enjoy major popularity in Congo.
The International Monetary Fund (IMF) ranks the Democratic Republic of Congo as one of the world’s fastest growing economies. YuuZoo will be one of the early movers in social commerce in the country, where it aims to tap into a significant economic opportunity through Congo’s huge e-Commerce, digital advertising, mobile games and mobile payments potential. 1
According to global management consulting firm McKinsey & Co, there is a forecasted $75 billion in revenue in e-Commerce alone from Africa by the year 2025, with an expected 40 percent of annual growth over the next ten years.
Says Thomas Zilliacus, Executive Chairman, YuuZoo Corporation: “We are very pleased to be working with Telkonex on this massive new opportunity. Africa today offers the world’s biggest new opportunity in social media, digital games, mobile payments and e-commerce. Congo is the second largest country on the continent. With a population of 80 million people and with an Internet penetration of only 4%, this is the perfect time to enter the market. As a new emerging telco player Telkonex is the perfect partner for us. They are ready to launch in Q1, and we look forward to significant results already in 2017” he concludes.
Says Jean Lévy Taine, Director of Telkonex: “I am excited and proud to bring YuuZoo to Democratic Republic of Congo. I believe that YuuZoo’s unique platform will support the government initiatives of transforming the use of digital products for the Congolese population. YuuPay’s YuuWallet is perfectly positioned for the Banque Centrale du Congo promotion of e-Payment solutions, and YuuZoo’s marketplace, sports games and social media has the power to become number 1 in Congo.”
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), YuuZoo has built a partly patented mobile and online technology platform on which several in-house developed products in a unique, and for each market fully localized manner, offer targeted social networking, e-commerce, gaming and payments to hundreds of millions of consumers across all continents. Its revenues grew in the 1st half of 2016 with 242% year-on-year to 81.5 million SGD (USD 58.6 million).
With franchisees and partners covering 69 countries with more than 4 billion consumers, YuuZoo reaches a huge global audience through smartphones, computers and TV sets.
Headquartered in the Democratic Republic of Congo, Telkonex was established in the year 2008 specialising in the wide-array of advanced services for the telecom industry covering the African region. The company is mainly involved in commissioning, installation and maintenance of VSAT, fiber optics and microwave links and data transmission.
Telkonex also has a strong Sports Management Department focused on football.
Manoj Chamanlal, Director, Communications & Business Development
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