In a strategic move, indigenous telecom company Briclinks Africa Plc has revealed plans to bolster its capital from N10 million to N500 million.
Over the next three years, they aim to soar in revenue to N78.12 billion, targeting one million subscribers.
The telecommunication company with a current subscriber base of 200,000, offers communication solution services, including broadband data provision and installation, voice system provision and upgrade and maintenance.
Speaking, while reviewing the company’s performance at the Annual General Meeting , AGM, held in Abuja, the managing director/chief executive officer, Mohammed Buhari, said the company is expected to add voice calls to its services this year.
The company is operating at the moment in Nigeria and Kenya, with a Mission to build products serving over 140 million African Migrants with communication and international calling to connect with their friends and family world-wide, as well as “become the most sought after brand in the provision of fast and affordable mobile internet”
Already, the company offers cloud based industry solutions and integrated services, providing cost effective,fully interactive and customized telecommunication solutions in Africa by utilising the latest technologies in telephony.
Buhari told the shareholders that it is targeting to become regional leaders in bridging the gab between the diaspora and home country through affordable and qualitative communications solutions.
According to him, “To become a world class institution that is a leader in rendering innovative and affordable voice calls, as well as make mobile internet an integral part of Middle class Nigerian home and businesses.”
The Briclinks which was launched in 2015, got its its first licence the Internet Service Provider Licence(ISP), in 2018, and commenced operation same year by setting up the infrastructure to provide fixed wireless broadband services in Abuja Akwa ibom and Lagos.
He said the company suffered the Covid 19 strikes, which affected its market, like other telecommunication industries.
The company was issued a Private Network Links (PNL) by the NCC to provide mobile internet service and Voice calls,
He said, “despite the effect the company felt from the pandemic,we still manage to delivered a solid performance in what was an extremely challenging year”
He disclosed that “with a share capital of 10.000,000 and with assured possibility of increasing it to 500,000,000, we project that we will achieve an annual growth rate of over 100 per cent and by this projections, we will hit over 1,000,000 active lines in our first five years of operation.”
He projected that the company’s subscribers base would have risen from the current 200,000 to one million in the next five years
He submitted that, “With this, we were able to project an estimated Revenue Per User(ARPU), with a National Average Revenue of 2,500 per each user, at least spending a minimum of 25 minutes on call per day.
“Thus our Projected revenue for the next five year is N1,627,500,000, in 2023 to N78.120b, by 2027”
“With $1.7 billion as our total market demand for telecoms in Nigeria,and a population of 210 Million people, Our target market is 110 million”
He disclosed that the company has identified its target market for the next five years in Nigeria, made up of people within the age range of 15 and 65 years.
“For our marketing strategy, we plan to put emphasis on corporate marketing, including social media branding and advertisement ,Segmenting and targeting, VAS content creation,Infrastructure among other formal and informal strategies we plan to adopt”