We started an internet service provider business, targeting low income communities. Most of our clients are youths (18-30 yrs.) Our reasons for targeting these communities are two-fold: first, they have been neglected by big ISPs who prefer affluent clients; second, because in Africa youths are the biggest consumers of internet. 90% of our clients are self-employed since they rely on our internet to do online projects, buy and sell products, and also promote their businesses.The satisfaction that comes with our business is unparalleled.
We got the first funding as a $5,000 grant from Tony Elumelu Foundation. This helped procure equipment for installation in 10 apartment buildings, as well as strike a partnership with a major ISP to acquire bandwidth for our subsequent distribution. Things went relatively smooth in the first year (with occasional equipment failures but we handled) and we connected about 10% of residents in the community.
We are a team of 4 and have managed to stimulate significant demand here. We believe that with about $10,000, we can raise connectivity to about 40%. We have unsuccessfully tried getting a line of credit from the bank. it requires sizable security like land, which we do not own. We've tried getting angel investing to no avail. Most of them require us to grow over another year or so before committing.
Please help advance our cause and Mother Africa will be forever grateful.