HiTS Africa Ltd
Telecommunications - , ,
HiTS Africa Ltd Employees
HiTS Africa Ltd Details
History & Formation HITS Africa ("HiTs Africa") is an exempted limited liability company incorporated on May 24, 2007 in the Cayman Islands, the HITS Africa currently has licences and start-up operations in three African countries: o United Republic of Tanzania ("Tanzania") o Democratic Republic of the Congo ("DRC") – (Asset held for sale) o Republic of Equatorial Guinea ("EG") HITS Africa's primary objective is to enter selected Sub-Saharan telecom markets by offering simple, quality focused yet affordable communication solutions accessible to the general population while creating value for its shareholders HITS Africa's licences enables it to offer GSM-based mobile voice, text and internet services as well as WiMax services, additionally UMTS based services only in EG. Network roll-out is currently ongoing and commercial operations are launched in October 2009 (Soft Launch) while it is expected that it will be commercially launched in November 2009, while operations will be launched in Tanzania in 2010. HITS Africa is managed by a team of seasoned professionals with an average of over 20 years of management and industry experience, while Country operations are led by a local management team with extensive experience and local insight. HITS Africa is 90.67% owned by HITS Telecom Holding Company K.S.C. ("HITS Telecom"), a telecom holding company listed on the Kuwait Stock Exchange, with market capitalization of approximately KD 90 million as of September 2009. HITS Africa targets to have a total subscriber base of close to 9 million people and EBITDA of approximately US$240 million within five years.
