This is why I think Nigeria will be first African Nation of Sub Sahara for expansion into Africa.
Users have access to “lite” mobile applications, which require less data. Customers in Nigeria have lower incomes and many of the mobile data packages offered are cost prohibitive. For example, Nigerian smartphone users tend to use Opera mini, a lite version of the Opera mobile browser, more often than they use Google Chrome, which is the most popular mobile browser globally. The availability of data-saving mobile services makes mobile usage more alluring to consumers.
With the world's 7th largest population and one of the fastest smartphone uptake, yet high cost of data to salary ratio, it is an easy target for Syntonic. We can also see the same philosophy when they chose India and Indonesia.
And in the mean-time, they've chosen Vietnam for the next Asian expansion as of yesterday's announcment. Another massive population, high smartphone adoption rates, and very high data/salary ratio.
One of these 'years' the market will wake up. Of course, it looks like only demonstrated revenue growth will move this sleeper, but funny enough, it's improved quite well each last 3 quarters. Next one this/next week will be better again, but it will be the December one to really look out for.
Also worth mentioning is the next teir 1 telco signing, materialized further global expansion, and any one of the numerous left field deals, like yesterday's, where 10 new mobile phones are having the SYT tool kit pre-installed. Even the hardware developers are now giving the tech a tick of approval, as they know where the industry is moving in terms of content/data disruption.
