Ecofin Agency) – Swiss Internet Services Provider (ISP) Cajutel plans to establish a solar-powered high-speed internet network in Guinea and its neighboring countries. To this end, the firm intends to proceed to a major Ether-based fundraising.
Indeed, Cajutel is looking to issue 720,000 Ether tokens and 60,000 additional shares to settle its premiums and advertising fees. A million tokens will be kept by existing shareholders so overall, 1.78 million tokens will be circulating, each representing one of the company’s share and voting rights of equal value.
By establishing a state-of-the-art solar-powered high-speed internet network in the country, Cajutel aims to become a reference ISP in the region while improving its populations’ access to high-quality, yet very affordable, internet services.
In Guinea Bissau, 1.2 million mobile users have access to high-speed internet via MTN and Orange’s 4G technology. However, the country has only 4,844 high-speed internet fixed-lines. The Swiss company wishes to reduce monthly subscription fees for the technology from $60 to $9.
Cajutel believes that its project will not only reduce its reliance on electricity as outages often affect availability of services, thus revenues, but also its costs as it will no more need to invest in fuel to power its generators during power shortages, hence cutting on maintenance fees. Moreover, the firm targets rural areas with its project.