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C Squared

C Squared Logo
Company type	Private
Industry	Internet
Predecessor	Google Project Link
Founded	2013
Headquarters	Nairobi , Kenya
Key people	Bhavesh Mistry, Ag. CEO
Products	Dark Fiber Leased line Wi-Fi
Website	www.csquared.com

Overview

C Squared is a technology company, making commercially driven investments into broadband-enabling infrastructure in Sub Saharan Africa. C Squared's business model is based on the Open Access Model. By investing in internet infrastructure and making it available to local ISPs and MNOs, C Squared helps bring high-quality broadband access to Africa’s large cities.

Background

Africa lags behind most regions in broadband internet access — only 9.3% percent of Africans have access, making it difficult for the region to achieve its human and economic potential.

In a predominantly wireless environment like Africa, mobile networks depend upon high speed and reliable optical fibre to connect to cellular towers to enable them to provide high quality, wireless broadband services to customers.

Furthermore, fibre is becoming an increasingly important way for end users to directly access the Internet, especially large businesses, small and medium enterprises (SME), and educational institutions, research organizations, and residential estates.

Still, fibre optic cable is expensive. Deploying and operating infrastructure on a shared basis can help lower installation and consumer costs. The open access philosophy is integral to the C Squared model and its shareholders. C Squared offers superior quality, affordable wholesale services to all licensed operators to unlock a thriving digital ecosystem.

History

In 2011, a team of Googlers identified a major barrier to more affordable, reliable broadband in Africa: the lack of fiber optic networks in large cities[4]. This led to Project Link, an initiative to build world-class, high-speed urban fiber networks in Africa's metropolises. In 2013 Google branded a brand new company in Uganda. C Squared has built more than 1000 km of fiber in the cities of Kampala and Entebbe; And 840 km of fiber in the Ghanaian cities of Accra, Tema, and Kumasi. In both Ghana and Uganda, over 25 Internet Service Providers (ISPs) and Mobile Network Operators (MNOs) now use these broadband services and 4G data to end users.

In the process of building networks in Africa, Project Link developed a new approach to the development of internet infrastructure. This entailed the bringing together of like minded investors to participate in this noble cause. Google, Convergence Partners, International Finance Corporation (IFC), and Mitsui & Co., Ltd. came together as co investors in C Squared Ltd.

C Squared will be run as an independent company, with its main headquarters in Nairobi, Kenya. Although C Squared’s network is currently only active in Uganda and Ghana, more countries are planned for the future, with $100 million[2] worth of “cumulative capital commitments” in place to support the expansion.

This partnership combines Google’s technical knowledge and expertise in deploying and operating wholesale metro infrastructure in Uganda and Ghana through Project Link with the additional capital, skills, and reach from all four investors. Convergence Partners’ deep experience of active, value adding investing in the ICT sector in sub-Saharan Africa, IFC's experience spanning over 40 years supporting the development of the telecommunications sector in Africa, as well as Mitsui’s cross-industry capabilities, vast investment portfolio and global business presence, and its experience as a strategic investor in the ICT sector, will significantly bolster the scale and resources of CSquared in its continued quest to grow access to the Internet across the entire sub-Saharan region.

Products

C Squared enables Internet Service Providers (ISPs) and Mobile Network Operators (MNOs) to provide high-quality broadband at lower costs through shared infrastructure. Its main products are metro fiber provided as leased capacity or dark fiber. C Squared also provides shared city wide Wi-Fi networks. C Squared’s shared infrastructure model means it works alongside its customers, building networks they can leverage to provide better services to end users.

Markets

Since 2011, Project Link has built more than 1000 km of fiber in the cities of Kampala and Entebbe; and 840 km of fiber in the Ghanaian cities of Accra, Tema, and Kumasi. In both Ghana and Uganda, more than 25 Internet Service Providers (ISPs) and Mobile Network Operators (MNOs) now use these metro fiber networks to offer broadband services and 4G data to end users, with more than 1,200 tower and commercial building sites.

Investors

Convergence Partners

Convergence Partners is a pan-African ICT–focused private equity player, delivering enhanced investment returns while underpinning Continental development. Convergence Partners has a proven track record of developing new investment opportunities as well as actively adding value to investments across the lifecycle of ICT assets. As impact investors, Convergence Partners brings its skills, experience and capital to accelerate ICT infrastructure development on the Continent, focusing on initiatives that increase availability of communications, broadband services and new technology offerings to the people of Africa.

International Finance Corporation (IFC)

International Finance Corporation IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. IFC’s portfolio in TMT sector is US$1.3 billion and encompasses a wide range of subsectors including broadband, mobile operators, independent tower companies and data centers across all emerging markets.

Mitsui

Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 137 offices in 65 countries as of April, 2017. Utilizing its global operating locations, network and information resources, it is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food & Retail Management, Healthcare & Service, Consumer Business, IT & Communication Business, and Corporate Development Business. Mitsui is actively taking on challenges for global business innovation around the world.

Google

Google's mission is to organize the world's information and make it universally accessible and useful. Through products and platforms like Search, Maps, Gmail, Android, Google Play, Chrome and YouTube, Google plays a meaningful role in the daily lives of billions of people and has become one of the most widely-known companies in the world. Google is a subsidiary of Alphabet Inc.

Ownership

C Squared is a partnership of four companies: Google, Convergence Partners, International Finance Corporation (IFC) and Mitsui & Co., Ltd. (Mitsui). Each partner holds a 25% stake in the company.