Telecom Pioneer Teams Up With Liquide Inc. to Bring Low-Cost Wireless Connectivity to Africa
Founder of FreedomPop Stephen Stokols Teams Up With Liquide's Founder and Chairman, African Entrepreneur Amadou Kane Diallo, to Raise $1 Billion for High-Speed Wireless Access in Africa
LOS ANGELES, November 5, 2019 (Newswire.com) - Eight years ago, Stephen Stokols launched FreedomPop in the United States, offering the first free mobile internet service in the world. FreedomPop went on to expand into six countries and serve millions of customers. Today, Stephen Stokols has teamed up with Liquide's founder and chairman, seasoned African entrepreneur and financier Amadou Kane Diallo, to bring the same innovative capability to Diallo's home continent of Africa.
Led by proven innovators with a track record of disrupting traditional telecoms, Liquide was founded in 2019 with the specific goal of bringing affordable wireless connectivity to emerging markets.
Liquide has begun raising its $1 billion fund to bring low-cost high-speed wireless connectivity to Africa over the next five years. It is already in talks with a government in West Africa to purchase a distressed government-owned network that has seen its market share erode to more aggressive foreign competitors. Liquide aims to purchase the network, upgrade it, and bring low-cost accessible wireless services to the country by 2021.
Liquide’s focus on Africa comes at a time where more than $100 billion of telecom investment is expected to pour into Africa over the next five years alone - a large percentage of that coming from China which now has its footprint across all the continent, from network equipment to handsets.
Source: Liquide Inc.