RASAB is promoting Sierra Leone’s digital transformation, by improving its broadband access infrastructure, and integrating fintech solutions that create opportunities and create bridges to global opportunities.
“It’s not just about making money, it is about leaving a meaningful footprint, touching lives, and creating impact for 8.5 million Sierra Leoneans.” Davar Fazaeli, Chairman and CEO of RASAB
RASAB launched an investment program in 2020 to spearhead a technological transformation underpinned by innovation, inclusion, and sustainability. The company is driving an integrated business model that combines an international internet gateway, mass-market fixed fiber-optic broadband connectivity, 5G mobile data connectivity, and globally integrated digital financial services.
RASAB is a company that has established multiple subsidiary operations and is spearheading a technological transformation in Sierra Leone. Within four years, the group has ventured into market segments and is delivering services considered unachievable or too risky for a market like Sierra Leone.
The market entry point in 2020, was the takeover of the country’s only sub-marine fiber landing station, which is part of the Africa Coast to Europe (ACE) network. Zoodlabs, one of the subsidiaries, entered into a long-term contract with the government of Sierra Leone for the operation, maintenance, and commercialization of the infrastructure, which was licensed for internet bandwidth wholesale to mobile operators and internet service providers. The company made investments in upgrading the infrastructure, notably transitioning its energy source from diesel generators to 100% renewable energy systems; increasing the active landing capacity to increase supply, and adding more traffic pathways to improve service reliability.
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Observing the bottlenecks in internet capacity transmission from the landing station, the next step in the investment journey was through Metrocable. This subsidiary invested in 1,900+ km
of terrestrial fiber optic transmission, distribution, and access network covering approximately 87% of the capital city, Freetown. This network ushered in a significant increase in the internet traffic migration capacity to mobile communication towers as well as last-mile customer premises.
The combined effect of Zoodlabs’ efficiency gains; Metrocable’s enhanced transmission and distribution capacity, and the increased capacity of last-mile operators to deliver more to their
customers has seen an increase in the quality of services and a dramatic reduction in internet prices across the value chain. The wholesale internet price dropped by 60% between 2020 and 2024. Additionally, the price of an average 10Mbps fixed home connection fell by approximately 189%; while the number of fixed fiber connections increased by over 300% in the same period. “Our mission is to provide scalable and affordable solutions that address Sierra Leone’s connectivity and financial needs, enabling its people to compete regionally and globally,” says Fazaeli.
Based on its assessment of the significant limitations in the country’s digital financial service space, the group launched Vult, a futuristic fintech service in mid-2024, with a vision to integrate
the country’s financial system with global digital financial ecosystems. The platform’s rapid adoption rate – 25,000+ subscriptions within 90 days – underscores its transformative potential. Vult is already integrated with Visa, Mastercard, and other international financial networks, and has the potential to connect every Sierra Leonean to the global financial system.
The group’s next brave intervention is the launch of a 100% 5G mobile data-only network operation in the country. This investment was justified by the observed limitations in the country’s existing last-mile mobile data infrastructure and its inability to meet the skyrocketing demand for mobile internet. The 5G network deployed in partnership with Nokia and CrossBoundary, will increase the country’s overall mobile delivery capacity, and improve the internet speeds and customer experience.
Together, these initiatives are laying a solid foundation for the government’s digital transformation agenda, which focuses on broadband inclusion and connectivity, innovation and job creation, and e-government service delivery. According to Fazaeli, “Business should be about fostering ethical growth, uplifting communities, and making a meaningful difference in the lives of people, profit is always a byproduct of doing things right.
For the full Penresa report on Sierra Leone CLICK HERE
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