Mxit founder Alan Knott-Craig Junior today announced the formation of HeroTel‚ aimed at supplying wireless broadband at affordable rates to households and small businesses.
“South Africans need fast‚ reliable and affordable broadband and are increasingly looking for an alternative to ADSL‚” Knott-Craig said in a statement.
HeroTel was formed following the acquisition of Snowball‚ based in Stellenbosch‚ and Cloud Connect‚ based in George‚ and is funded by an investor consortium including former First National Bank‚ CEO Michael Jordaan‚ former Rand Merchant Bank‚ CEO Mike Pfaff and CIO (Chief Investment Officer) Derek Prout-Jones.
Knott-Craig said over the last 13 years the lack of reliable fixed line options has birthed a thriving industry of over 200 wireless Internet service providers‚ with estimated combined annual revenues of R700million. Wireless broadband connections continue to grow at twice the rate of fixed lines‚ he said‚ highlighting a fast-growing market segment within an already booming industry.
HeroTel plans to consolidate the wireless Internet service provider industry to provide a single national wireless broadband provider‚ in order to “unlock the economies of scale”.
According to Knott-Craig‚ HeroTel is currently integrating wireless Internet service providers under a unified network.
HeroTel’s official launch for consumers is scheduled for 1 April 2016.
Knott-Craig will take on the role of Executive Chairman‚ supported by CEO Corne de Villiers‚ COO Francois Wessels‚ chief information officer Imel Rautenbach‚ and CFO Van Zyl Botha.
Knott-Craig remains CEO of Project Isizwe‚ a non-profit company which he founded in 2013 that provides free WiFi to poor communities.
Source: RDM News Wire.
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