There is an entity poised to change the current dismal situation using the unprecedented capabilities that have been unlocked by the Blockchain. Moya Networks, a Pan-African telco company with a proven track record of full range traffic type capacities of voice and data across the African continent.
Can you believe that out of the over 1.2 Billion population in Africa, only 388,376,491 people have internet access?! Per World Internet Stats estimates made in June this year, penetration per population in the so-called dark continent stands at 31.2 percent representing 10 percent of the total global internet usage.
Actually, this is far below the world average of 51.7 percent. In fact, only countries like Kenya, South Africa, Seychelles, Morocco, South Africa and Mauritius can boast of usage above the world average.
It’s worth mentioning that Kenya is the leader in Africa with an 89.4% penetration. The Indian Ocean Archipelago Island of Mauritius follows in that order with 62.7%.
Moreover, there are countries with a penetration rate as low as 10% like South Sudan, Niger, Malawi, Western Sahara, Madagascar, Liberia, Guinea Bissau, Burundi, Central African Republic, Chad, Comoros, Congo and Democratic Republic of Congo.
Enter Moya Networks
However, there is an entity poised to change the current dismal situation using the unprecedented capabilities that have been unlocked by the Blockchain. Moya Networks, a Pan-African telco company with a proven track record of full range traffic type capacities of voice and data across the African continent.
Moya Network is a high capacity low unit price submarine capacity provider in Africa. With nine years of spotless operations and partnerships with governments and other private companies, Moya Networks has what it takes to wire Africa.
By early 2018, the Africa Coast to Europe Submarine (ACE) will be up and running and Moya has an agreement to distribute and sell ACE capacity in Africa from the ACE Consortium. Initially, it will be centred in the Southern African region.
The ACE will enable Moya to deplore a variety of world-class Synchronous Digital Hierarchy of internet protocols that fit the needs of ISPs, carriers, businesses and government. These services include internet, data, voice and video.
In an Interview with Core Media, Carrington Phillip, CEO of Moya Networks stated:
“Africa’s Internet capacity requirements has exploded over the last decade. Applications such as Facebook, Skype and Mobile Money have fueled the rapid increase in customer data demand in Africa. The Moya product portfolio will focus on the ISP and carrier community and offer enterprise-class services for sale directly and through partner channels.”
Carrington also disclosed that Moya will focus on key regional markets across Southern Africa, where there is considerable pent-up demand for international connectivity driven by the rapid increase in mobile and Internet usage. However, within two years of launching Moya will extend its services to the rest of the African continent.
Tokenization of Moya Networks
Using the ICO route, Moya Network intends to raise 6000 BTC in a one-month crowdsale on the Ethereum Platform. The funds from the fundraising will be used to finance the purchase of the ACE Submarine Cable System based on the existing contract.
Also, the company will purchase the backup capacity on the West Africa Cable System (WACS) as well as telco equipment from qualified vendors and installed in the Moya backhaul Network.
80% of the tokens sold will be released to crowdsale participants whilst Moya Network will keep 20 percent for its operational budget for the five years. In fact, after the ICO, no more tokens will be released but it will be allowed to circulate and be bought and sold on exchanges.
“Post ICO, Moya will build out its network to connect to other Submarine cables and to link to rural parts of Africa,” Carrington revealed. “Our passion and goal is to is to bring high-speed Internet services to all areas of the African continent”.