PayTV: Kenya’s next success story?
Over the past decade mobile phones have helped to transform African countries like Kenya, giving the financially excluded a cheap way to access credit through mobile banking. It has also been Africa’s most successful growth story: the mobile payment market is forecast to be worth $60bn by 2015. Today, information and communication technology (ICT) companies are building the infrastructure for what investors believe will be Africa’s next big growth story – PayTV.
On Monday Wananchi Group, a Kenyan media operator, announced that it raised $57.5m of growth capital to continue building fibre infrastructure for its triple-play service in Kenya.
The full Financial Times article can be viewed online by clicking here.