- January 7, 2019
- Posted by: Myles Freedman
- Category: More Africa News, Networks
Cameroon Internet access provider (FAI) Yoomee, also present in Côte d’Ivoire, announces investments of 3 billion FCFA in 2019 and about 15 billion FCFA between 2020 and 2022.
YooMee (5 th operator after Vodacom, Ringo, Creolink and Matrix in terms of revenue, according to the industry regulator) intends to invest in the development of its distribution network, extending coverage technologically (Internet 4G) and territorial, its capacity in human resources and the reinforcement of its image.
Currently, the ISP claims more than 120,000 subscribers in its first year of operation, including 75% on the 4G Internet segment and 25% on voice through the use of CDMA technology.
Created in 2011 with foreign capital, Yoomee went bankrupt in 2016, with nearly 120 employees unemployed. Cameroonian entrepreneurs took over the company in October 2016. An initial investment of CFAF 10 billion, now raised to more than CFAF 14 billion, has successfully delivered the ISP afloat. The latter controls 6.33% of Cameroon’s market shares in the provision of Internet access, thanks to its revenue of 605.8 million FCFA in 2017.