PODCAST | Efforts to bring down fibre internet costs attract funding for TooMuchWifi
TooMuchWifi has more than 400,000 customers in more than 40 communities
13 March 2023 - 17:16
by Mudiwa Gavaza
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The operation recently attracted a blend of debt and equity funding from the Mineworkers Investment Company (MIC), which has taken up a 25% stake in the business, as well as global impact investors Bamboo Capital Partners and others, to scale up operations and bolster its executive team.
TooMuchWifi has a presence in more than 40 communities, and has over 400,000 customers, growing at a monthly rate of 10%.
A former Rocket Internet executive and venture capitalist, Brown explains how the company’s business model works; problems with internet affordability in SA; actions needed to increase access in poorer communities that often don’t receive much investment from internet providers; and plans for growth in the Western Cape.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Business Day Spotlight
PODCAST | Efforts to bring down fibre internet costs attract funding for TooMuchWifi
TooMuchWifi has more than 400,000 customers in more than 40 communities
Efforts to bring down the cost of communication and internet access in SA are the focus of this edition of the Business Day Spotlight.
Our host Mudiwa Gavaza is joined by Tauriq Brown, the newly appointed CEO of TooMuchWifi, who discusses his aims and plans for the company.
Founded in 2016, the company specialises in providing fibre internet to under-resourced communities in SA.
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The operation recently attracted a blend of debt and equity funding from the Mineworkers Investment Company (MIC), which has taken up a 25% stake in the business, as well as global impact investors Bamboo Capital Partners and others, to scale up operations and bolster its executive team.
TooMuchWifi has a presence in more than 40 communities, and has over 400,000 customers, growing at a monthly rate of 10%.
A former Rocket Internet executive and venture capitalist, Brown explains how the company’s business model works; problems with internet affordability in SA; actions needed to increase access in poorer communities that often don’t receive much investment from internet providers; and plans for growth in the Western Cape.
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