Sky and Space Global Ltd (ASX: SAS), a developer of a narrow-band communication network based on nano-satellites from the telecommunication sector, announced that it had signed a trial agreement with the MTN Nigeria, a Nigeria based telecommunication provider.
Based on the agreement, SAS along with MTM Nigeria will be examining the potential for collaborative projects using the advanced Internet of Things (IoT) as well as the narrow-band applications across various fields in the growing African market. Based on this examination, the company has planned to enter into the commercial agreement with MTN Nigeria to use the disruptive narrowband communications solutions and services provided by SAS.
About MTN Nigeria
MTN Nigeria, a part of MTN Group, is one of the leading mobile telecommunication companies in Africa with more than 52 million subscribers. It is one of Nigeria’s premium provider of connectivity, communication and collaboration solutions. It the largest privately-owned mobile operator not only in Africa but also in Europe and the Middle East.
Since the launch of MTN in 2011, its presence is across 36 states of Nigeria. In the Federal Capital Territory, Abuja, MTN provides services across 223 cities and towns. It has its presence in more than 10,000 villages as well as communities and also in the growing number of highways.
Based on this trial agreement, it is estimated that there is an opportunity for SAS across 36 states in Africa where MTN has its presence. In these regions, SAS has a strong potential for its advanced IoT and narrow-band technology to open up to the telecommunication market in Africa.
Meir Moalem, who is the Managing Director and CEO of SAS commented that the company is delighted with the collaboration with MTN Nigeria. He also stated that there is a clear need to provide significant and underserviced populations with the affordable and reliable telecommunication services. Through the nano-satellite technology of SAS, the regional telecommunication providers will be provided with a disruptive and cost-effective satellite alternative.
On 28 February 2019, Sky And Space Global Ltd and Cendrawasih Teknologi Nusantara (CTN) signed a Reseller memorandum of understanding (MoU) to accelerate the works to include SAS’s Nano-satellites into CTN’s network. On the same day, the company announced the resignation of the Joint Secretary of The Company, Mr Steven Wood.
On 22 February 2019, the company announced its half-yearly results for the period ended 31 December 2018. The company’s revenue was 60% below its revenue in the previous corresponding period to $19,333. The company incurred a loss of $3,200,470 by the end of 31 December 2018.
On 21 January 2019, SAS signed a Reseller memorandum of understanding with Global Telesat SL to explore how the nano-satellite connectivity of SAS to incorporate SAS’s Nano-satellites into Global Telesat SL which indicates that SAS is growing its reputation in International reseller network and the satellite communication market. It also entered a trial service agreement with Telespazio Brasil to support in advance communication services within the equatorial region.
On 16 January 2019, SAS signed two more MoU’s with Arycom Capacidade Satelital Ltd and Cobbesseecontee Communications LLC. Thus, expanding its footprints in The US as well.
By the end of the trading session on 5 March 2019, the closing price of the stock was A$0.030,up by 3.448%. The company has a market capitalization of A$61.09 million and approximately 2.11 billion outstanding shares.
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.