Lyca Group is looking at expanding its MVNO business to Africa, the new CEO Navanit Narayan told Mobile News. The company is working on launching mobile services there, “as we see some big growth there in the coming years,” he said.
Lycamobile is already present in 23 countries, mainly in Europe. In early 2020, it launched in Uganda, which is considered a base for further expansion in east Africa. Narayan, who previously worked at Nokia and Vodafone before joining Lyca last year as COO, said the company is looking for new areas for geographic expansion.
While Lycamobile has traditionally targeted tourists and immigrants in its countries, this segment of the market has slowed in the past year due to the restrictions on travel during the Covid-19 pandemic. The new CEO said this has given the group “time to reinvent ourselves and invest money in technology and platforms to extract much better business in these markets as they open up”.