Crunchfish joins key mobile telecommunications partnership for Africa

Crunchfish join a new milestone partnership with the goal of enabling mobile operations and services in Africa with finance, telecommunications network infrastructure, and disruptive technologies using an Anything-as-a-service mindset. Crunchfish AB today signed a memorandum of understanding with Social ApSthe Danish management and investment company behind the partnership, for potential financing of Crunchfish.

The goal of this partnership is to enable the digital infrastructure through Africa fill critical gaps by enabling mobile services with disruptive telecommunications infrastructure and technologies, to provide significantly better cost structures, use cases, and quality. The mindset is Anything-as-a-service to enable businesses and entrepreneurs to enter the mobile telecom industry with minimal CAPEX.

Partnership includes mobile telecommunications group Eferio Communications A/S, telecommunications network provider Radiocloud AB, mobile antenna pioneer Radio Innovation AB and pioneer of offline payments Crunchfish AB. The management and investment company behind this partnership is Social ApSwhich in turn collaborates with Revenue Share Capital, with the aim of providing financing, subject to due diligence, through participations and non-dilutive revenue sharing models, to enable mobile operations and services in Africa and other emerging markets.

Crunchfish today signed a memorandum of understanding with Shareholder for a possible financing of Crunchfish. Shareholder intends to carry out, subject to due diligence, an initial direct equity investment in Crunchfish for three million shares at market conditions. After the initial investment, further financing may be made available in the form of additional equity investments or based on non-dilutive revenue sharing models. Partner has the financial instruments ready to implement this investment within three months of today.

Despite huge infrastructure developments, over 70% of Africas 1.2 billion citizens are not yet connected to the internet, and a large proportion of those already connected are struggling with poor or slow online connections. Many barriers prevent people and businesses from using mobile services and prevent the implementation of digital transformations. This difficult situation is similar in many emerging markets Africa, Asia And Latin America. In Indiafor example, over 50% of the population of 1.4 billion lacks internet connectivity.

“New entrants to high-growth telecom markets traditionally need extensive infrastructure, technology and financial resources. We enable mobile operations with disruptive technology and financial solutions. A game changer that creates inclusion in the digital society for millions of people and companies. We are extremely pleased to have Crunchfish join as a partner as mobile payment services can be implemented much faster with offline payments.”, says Jørgen Gransøe, CEO of Social ApS.

“This partnership is extremely important for Crunchfish For several reasons. It’s a great entry ticket for Africa, where our offline payment solution can be made available to the countries and communities where it is needed most. We will also have the ability to develop Digital Cash for mobile telecom operators, who play a key role in providing payment services for many emerging markets. Furthermore, Crunchfish may have access to funding as we accelerate our roll-out”, He says Joachim SamuelsonCEO or Crunchfish.

Of Social ApSCEO Jørgen Gransøe
Partner is a business enabling and investment firm that focuses on telecommunications and fintech by building infrastructure and operations in the African continent and other emerging markets. Socio invests in technologies and concepts that improve the entire value chain, from the mobile network to the consumer.

Of Epherium A/S communicationsCEO Richard Murbeck
Eferios’ goal is to become a major player in the digital infrastructure industry worldwide Africa. Our strategy is to create a group of network operators through roll-up mergers and a comprehensive application of revenue-based financing. Over time we will then build these assets into multi-brand operators where we use Connectivity-as-a-service, Spectrum-as-a-service and have the best multi-brand platform at our fingertips. We believe our business and technology operations are most successfully served by sourcing from leading global technology partners with the implementation of country-specific knowledge and experience through highly trained local personnel. Eferio Communications has its headquarters in Kenya with a geographically separate entity Social ApS for legal and financial operations based in Denmark.

Of Radio cloud ABCEO Anil Raj
Radiocloud AB is a digital infrastructure company focused on building and operating shared passive and active network infrastructures in developing economies. Infrastructure sharing reduces financial risk and increases feasibility and profitability for network operators, allowing them to focus on developing and delivering new services to their customers. Radiocloud works closely with mobile network operators, regulators, financial institutions and technology providers to direct capital, resources and technology to developing markets, helping to lower barriers to entry and connecting access to Internet to underserved markets and communities. Based in SwedenRadiocloud is led by a highly experienced management team that has its roots in the early days of the mobile phone industry.

Of Radio Innovation ABmanaging director Dusyant Patel
Radio Innovation is a unique and innovative communications infrastructure company, developing disruptive antenna solutions that help CSPs (communications service providers) or PNs (private networks) reduce CAPEX and OPEX by up to 85%, making it profitable to cover even the most rural areas, with reliable and convenient mobile connectivity. The technology works by reducing the number of tower sites while using highly efficient antenna technology. With fewer sites Radio Innovation drastically reduces the environmental impact, also allowing urban areas to increase their capacity needs without the need to build new infrastructure, but simply by replacing the antennas on existing tower sites. Radio Innovations’ mission is to give every individual an equal opportunity to be digitally included, no matter where they are in the world.

For more information, please contact: Joachim SamuelsonCEO or Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com

This information is Crunchfish AB is required to publish in accordance with the EU Market Abuse Regulation. The information has been provided by the above contact person for posting on November 23, 2022 to 4:00 pm.

Vastra Hamnen Corporate Finance AB is the Certified Consultant. Email: ca@vhcorp.se. Telephone +46 40 200 250.

Of Crunchfishcrunchfish. com
Crunchfish is a deep technology company that develops digital money platform for banking, payment services and CBDC implementations and gestural interaction technology for AR/VR and automotive industry. Crunchfish has been listed on the Nasdaq First North Growth Market since 2016, headquartered in Malmö, Sweden and with a branch in India.

https://news.cision.com/crunchfish/r/crunchfish-join-pivotal-mobile-telecom-partnership-for-africa,c3671838

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