Recording (9)

0:00

S… Speaker 1 (Recording (9))

And let me to end in your glory.

0:02

S… Speaker 1 (Recording (9))

Please we ask in Jesus' name.

0:04

S… Speaker 1 (Recording (9))

Amen.

0:46

S… Speaker 1 (Recording (9))

Thank you very much.

0:48

S… Speaker 1 (Recording (9))

It's not an answer.

0:58

S… Speaker 1 (Recording (9))

I don't have any.

1:01

S… Speaker 1 (Recording (9))

I think we are.

1:07

S… Speaker 1 (Recording (9))

I'll be at this one.

1:09

S… Speaker 1 (Recording (9))

I have frantic powers.

1:13

S… Speaker 1 (Recording (9))

Love them.

1:27

S… Speaker 1 (Recording (9))

It is clear that we are still trying to come

1:31

S… Speaker 1 (Recording (9))

back with this agreement and

1:36

S… Speaker 1 (Recording (9))

I hope

1:43

S… Speaker 1 (Recording (9))

that we work through one while

1:53

S… Speaker 1 (Recording (9))

we start making money to join

1:58

S… Speaker 2 (Recording (9))

the one.

1:58

S… Speaker 3 (Recording (9))

That will require

2:02

S… Speaker 1 (Recording (9))

a lot of patience and all of

2:07

S… Speaker 1 (Recording (9))

us from within UCD to be

2:11

S… Speaker 1 (Recording (9))

down for this

2:16

S… Speaker 1 (Recording (9))

end of the day.

2:20

S… Speaker 1 (Recording (9))

So let's

2:25

S… Speaker 1 (Recording (9))

work towards that.

2:29

S… Speaker 1 (Recording (9))

I will talk about some of the issues from

2:33

S… Speaker 1 (Recording (9))

our side,

2:33

S… Speaker 1 (Recording (9))

but that's

2:39

S… Speaker 1 (Recording (9))

why we made significant

2:44

S… Speaker 1 (Recording (9))

progress when the Ministry of Niki has finally now

2:48

S… Speaker 1 (Recording (9))

introduced us to Sika.

2:51

S… Speaker 1 (Recording (9))

And that's about the last hurdle to actually

2:55

S… Speaker 1 (Recording (9))

commercialize it.

2:57

S… Speaker 1 (Recording (9))

And that's why I get

3:02

S… Speaker 1 (Recording (9))

to address these issues.

3:05

S… Speaker 3 (Recording (9))

Thank you very much.

3:07

S… Speaker 3 (Recording (9))

Thank you.

3:15

S… Speaker 1 (Recording (9))

All right, so we'll go through the minutes.

4:09

S… Speaker 1 (Recording (9))

Það er það

4:15

S… Speaker 1 (Recording (9))

er það er það er það?

4:38

S… Speaker 1 (Recording (9))

Ég ég ég.

5:02

S… Speaker 1 (Recording (9))

Það er það er það er það er það?

5:06

S… Speaker 1 (Recording (9))

Fyða.

5:51

S… Speaker 3 (Recording (9))

Now,

6:03

S… Speaker 3 (Recording (9))

All right.

6:07

S… Speaker 1 (Recording (9))

So let's look at that.

6:09

S… Speaker 1 (Recording (9))

And remember.

6:11

S… Speaker 1 (Recording (9))

So the first one is

6:14

S… Speaker 1 (Recording (9))

try to make our

6:16

S… Speaker 1 (Recording (9))

only regular.

6:17

S… Speaker 1 (Recording (9))

I think we agree with that.

6:21

S… Speaker 1 (Recording (9))

We also decide that

6:26

S… Speaker 1 (Recording (9))

Ég ég

6:31

S… Speaker 1 (Recording (9))

ég ég ég

6:48

S… Speaker 1 (Recording (9))

ég

7:26

S… Speaker 1 (Recording (9))

I actually sent an e -mail to me and to him.

7:28

S… Speaker 1 (Recording (9))

So I look at the analysis and I call him.

7:31

S… Speaker 1 (Recording (9))

I ask him to go through the analysis and redo it

7:36

S… Speaker 1 (Recording (9))

properly.

7:36

S… Speaker 1 (Recording (9))

And he's done it.

7:39

S… Speaker 1 (Recording (9))

He has shared it with me.

7:41

S… Speaker 1 (Recording (9))

Can you take us through it?

7:45

S… Speaker 1 (Recording (9))

I should have ended that.

7:47

S… Speaker 3 (Recording (9))

Okay,

7:48

S… Speaker 3 (Recording (9))

what happened?

7:48

S… Speaker 3 (Recording (9))

We shared it with Alex.

7:50

S… Speaker 1 (Recording (9))

In my response.

8:00

S… Speaker 1 (Recording (9))

In that e -mail,

8:02

S… Speaker 1 (Recording (9))

PTBL engagement MTN,

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S… Speaker 1 (Recording (9))

they got 2 .95 one

8:11

S… Speaker 1 (Recording (9))

-time payment,

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S… Speaker 1 (Recording (9))

2 .95 million dollars one -time payment,

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S… Speaker 1 (Recording (9))

and then 10 dollars per annum.

8:19

S… Speaker 1 (Recording (9))

compared to the PTO or the counter -proposal

8:23

S… Speaker 1 (Recording (9))

from MTN of $2 .25 versus $80

8:27

S… Speaker 1 (Recording (9))

per annul.

8:32

S… Speaker 1 (Recording (9))

When the e -mail came,

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S… Speaker 1 (Recording (9))

I and I before we spoke,

8:36

S… Speaker 1 (Recording (9))

and our position was let's rather push

8:40

S… Speaker 1 (Recording (9))

MTN to pay the 3 .25 and then the 10.

8:45

S… Speaker 1 (Recording (9))

So now we begin on the 2 .9.

8:48

S… Speaker 1 (Recording (9))

And because in the negotiation,

8:50

S… Speaker 1 (Recording (9))

they got better and I got

8:55

S… Speaker 1 (Recording (9))

a better one time.

8:56

S… Speaker 1 (Recording (9))

So the 1 .9 indication is the MTN willing to do 3

9:00

S… Speaker 1 (Recording (9))

instead of the 3 .2 9 .50.

9:03

S… Speaker 1 (Recording (9))

Next,

9:05

S… Speaker 1 (Recording (9))

we'd like to be a meeting between the 2 .5 and the MTN reps

9:09

S… Speaker 1 (Recording (9))

to firm up.

9:11

S… Speaker 1 (Recording (9))

That plus the issue about the deployment that Peter may

9:16

S… Speaker 1 (Recording (9))

have to do.

9:16

S… Speaker 1 (Recording (9))

So on the way forward,

9:18

S… Speaker 1 (Recording (9))

we are both on the same page in terms of what we should do on

9:23

S… Speaker 1 (Recording (9))

MTN.

9:24

S… Speaker 1 (Recording (9))

No,

9:33

S… Speaker 1 (Recording (9))

I haven't,

9:34

S… Speaker 1 (Recording (9))

but each time he calls the MTN and next

9:39

S… Speaker 1 (Recording (9))

week is when we have to together meet MTN.

9:43

S… Speaker 3 (Recording (9))

Then

9:48

S… Speaker 4 (Recording (9))

we agree.

9:52

S… Speaker 1 (Recording (9))

will do this together,

9:53

S… Speaker 1 (Recording (9))

and when they see the two parties sitting together,

9:57

S… Speaker 3 (Recording (9))

Það

10:01

S… Speaker 1 (Recording (9))

That's right.

10:02

S… Speaker 1 (Recording (9))

That's right.

10:03

S… Speaker 1 (Recording (9))

That's right.

10:05

S… Speaker 1 (Recording (9))

That's

10:39

S… Speaker 1 (Recording (9))

right.

10:54

S… Speaker 1 (Recording (9))

Nottokati Ponto,

10:55

S… Speaker 1 (Recording (9))

Það er það er það er það er það er

10:59

S… Speaker 1 (Recording (9))

það?

11:05

S… Speaker 1 (Recording (9))

Well, I realized that my very, very quietly are looking at this.

12:54

S… Speaker 1 (Recording (9))

from the previous discussion that we had with them at each other.

12:58

S… Speaker 1 (Recording (9))

Have you drawn the line like that?

13:00

S… Speaker 1 (Recording (9))

No, in terms of our previous engagement,

13:04

S… Speaker 1 (Recording (9))

all these things were discussed at each

13:08

S… Speaker 1 (Recording (9))

other.

13:08

S… Speaker 1 (Recording (9))

Yeah, the question I'm asking is,

13:10

S… Speaker 1 (Recording (9))

has Peter agreed or accepted?

13:15

S… Speaker 1 (Recording (9))

No, we haven't.

13:17

S… Speaker 1 (Recording (9))

So he's still open. He's still open.

13:21

S… Speaker 4 (Recording (9))

The next one,

13:22

S… Speaker 1 (Recording (9))

engage counsel to

13:26

S… Speaker 1 (Recording (9))

review, yes,

13:28

S… Speaker 1 (Recording (9))

so we have,

13:29

S… Speaker 3 (Recording (9))

but I'm not sure

13:34

S… Speaker 1 (Recording (9))

anyone has said anything to me yet.

13:35

S… Speaker 1 (Recording (9))

So we have received

13:40

S… Speaker 1 (Recording (9))

an opinion and my

13:44

S… Speaker 1 (Recording (9))

lawyers are working to finalize

13:49

S… Speaker 1 (Recording (9))

the findings

13:53

S… Speaker 1 (Recording (9))

and also advice

13:58

S… Speaker 1 (Recording (9))

me on how we

14:02

S… Speaker 1 (Recording (9))

proceed.

14:03

S… Speaker 1 (Recording (9))

I don't think we should share the opinion with you,

14:06

S… Speaker 1 (Recording (9))

but if they said yes,

14:07

S… Speaker 3 (Recording (9))

we should share it,

14:08

S… Speaker 3 (Recording (9))

but

14:09

S… Speaker 1 (Recording (9))

But we should be proposing

14:15

S… Speaker 1 (Recording (9))

some changes to the agreement based on the opinion.

14:18

S… Speaker 1 (Recording (9))

That is the best way.

14:19

S… Speaker 1 (Recording (9))

The lawyers are not.

14:23

S… Speaker 1 (Recording (9))

It will be

14:27

S… Speaker 1 (Recording (9))

seen to be more transparent.

14:28

S… Speaker 1 (Recording (9))

Yes.

14:29

S… Speaker 1 (Recording (9))

Tell man

14:39

S… Speaker 1 (Recording (9))

respectfully before you close the door on that issue.

14:43

S… Speaker 1 (Recording (9))

Do you have any time frame you are expecting from him or is this opening?

14:46

S… Speaker 5 (Recording (9))

Um,

14:47

S… Speaker 1 (Recording (9))

at

14:53

S… Speaker 1 (Recording (9))

least. We

14:57

S… Speaker 1 (Recording (9))

can proceed maybe later on.

14:58

S… Speaker 1 (Recording (9))

Later on.

15:10

S… Speaker 3 (Recording (9))

Ég ég

15:15

S… Speaker 1 (Recording (9))

ég ég

15:24

S… Speaker 1 (Recording (9))

ég

16:41

S… Speaker 1 (Recording (9))

What was that because of the way the transitions

16:45

S… Speaker 1 (Recording (9))

from each party?

16:48

S… Speaker 1 (Recording (9))

Það er það er það er það er það er það er það

16:52

S… Speaker 1 (Recording (9))

er það er það er það er það er það er það er það

16:58

S… Speaker 1 (Recording (9))

er það er það er það er það er það er það

17:04

S… Speaker 1 (Recording (9))

er það er það er það er það er það er það er það er það er það er það er það er það er það er það er það

17:09

S… Speaker 1 (Recording (9))

er það er það er það er það er það er það er það er það er

17:13

S… Speaker 1 (Recording (9))

það er það er það er það er það er það er

17:17

S… Speaker 1 (Recording (9))

það er það er það

17:23

S… Speaker 1 (Recording (9))

in order for us to have efficient and effective committees.

18:19

S… Speaker 1 (Recording (9))

Það er það er það er það er það er það er það er það er

18:23

S… Speaker 1 (Recording (9))

það er það er það er það er það er það

18:27

S… Speaker 1 (Recording (9))

er það er það er það er

18:33

S… Speaker 1 (Recording (9))

það er það er það er það

18:37

S… Speaker 1 (Recording (9))

er það er það er það er það er það er það er það er það er það er það er það er það er það er það er það er það er það

18:42

S… Speaker 1 (Recording (9))

er það er það er það er það er það

19:05

S… Speaker 1 (Recording (9))

Það var það var það var það var það var það var það var það var það var það var það

19:09

S… Speaker 1 (Recording (9))

var það var það var það

19:13

S… Speaker 1 (Recording (9))

var það var það var það var það var

19:18

S… Speaker 1 (Recording (9))

það var það var það var það var það var það var það

19:23

S… Speaker 1 (Recording (9))

var það var það var það var það var það var það?

19:56

S… Speaker 1 (Recording (9))

and I think MD too. So we need to have a way forward.

20:18

S… Speaker 1 (Recording (9))

I think Chairman's position is clear.

20:20

S… Speaker 1 (Recording (9))

The idea is expanding the board.

20:22

S… Speaker 1 (Recording (9))

When we expand the board,

20:23

S… Speaker 1 (Recording (9))

we can treat some board members separate from others.

20:26

S… Speaker 1 (Recording (9))

So the money that comes to you goes to everybody.

20:28

S… Speaker 1 (Recording (9))

But that also brings efficiency.

20:30

S… Speaker 1 (Recording (9))

You are able to move them around.

20:33

S… Speaker 1 (Recording (9))

That one is clear.

20:34

S… Speaker 1 (Recording (9))

If you make an ad hoc,

20:35

S… Speaker 1 (Recording (9))

if you have a member of the board chair in it,

20:38

S… Speaker 1 (Recording (9))

but then the members are ad hoc,

20:40

S… Speaker 1 (Recording (9))

that one,

20:41

S… Speaker 1 (Recording (9))

they may not receive that money.

20:42

S… Speaker 3 (Recording (9))

However,

20:43

S… Speaker 1 (Recording (9))

that also has its own issues.

20:45

S… Speaker 1 (Recording (9))

So Chairman has laid out the thing clear.

20:48

S… Speaker 1 (Recording (9))

It's up to us as a board to decide which

20:52

S… Speaker 1 (Recording (9))

way to go, so that based on the resolution,

20:54

S… Speaker 1 (Recording (9))

then they can proceed together with Chairman on how to constitute.

21:05

S… Speaker 1 (Recording (9))

The board of the company.

21:06

S… Speaker 3 (Recording (9))

The

21:11

S… Speaker 1 (Recording (9))

board of the company. The board of the company.

21:11

S… Speaker 1 (Recording (9))

The appointment of directors,

21:12

S… Speaker 1 (Recording (9))

we are right.

21:13

S… Speaker 1 (Recording (9))

If you are appointing more directors to expand the board,

21:16

S… Speaker 1 (Recording (9))

because the shareholders nominated or

21:20

S… Speaker 1 (Recording (9))

appointed a board should

21:25

S… Speaker 1 (Recording (9))

be constituted,

21:26

S… Speaker 1 (Recording (9))

yeah. So the chairman has an amendment

21:33

S… Speaker 1 (Recording (9))

mistake.

21:33

S… Speaker 1 (Recording (9))

Means this has to be

21:38

S… Speaker 1 (Recording (9))

based on this.

21:39

S… Speaker 1 (Recording (9))

All

21:48

S… Speaker 6 (Recording (9))

right, thank you.

21:48

S… Speaker 1 (Recording (9))

We

21:56

S… Speaker 1 (Recording (9))

have now.

22:47

S… Speaker 3 (Recording (9))

So,

22:48

S… Speaker 1 (Recording (9))

on the Nita rollout,

22:51

S… Speaker 1 (Recording (9))

we had some delays.

22:54

S… Speaker 1 (Recording (9))

So,

22:55

S… Speaker 1 (Recording (9))

currently, Smart Centraco manages Nita

23:00

S… Speaker 1 (Recording (9))

devices at the Nita data center.

23:04

S… Speaker 1 (Recording (9))

There was about three months back and forth between Nita

23:09

S… Speaker 1 (Recording (9))

and Smarten Farko on allowing

23:13

S… Speaker 1 (Recording (9))

Peter to connect the data center.

23:16

S… Speaker 1 (Recording (9))

That was resolved two weeks ago.

23:19

S… Speaker 1 (Recording (9))

So we have the way clear now to

23:23

S… Speaker 1 (Recording (9))

send our cable to the Nita data center for

23:27

S… Speaker 1 (Recording (9))

the pilots to be there.

23:28

S… Speaker 1 (Recording (9))

Meanwhile,

23:30

S… Speaker 1 (Recording (9))

the commercial negotiation has begun in terms of the rates.

23:33

S… Speaker 1 (Recording (9))

that is affordable to them and also economical for

23:38

S… Speaker 1 (Recording (9))

us.

23:38

S… Speaker 1 (Recording (9))

and they expected that by next week a draft commercial

23:42

S… Speaker 1 (Recording (9))

argument should be laid for discussion.

23:47

S… Speaker 1 (Recording (9))

So because of the time we lost,

23:48

S… Speaker 1 (Recording (9))

we're trying to do all of them parallel.

23:51

S… Speaker 1 (Recording (9))

Instead of doing the

23:55

S… Speaker 1 (Recording (9))

POC first and then the commercial,

23:58

S… Speaker 1 (Recording (9))

we're not doing all of them parallel.

24:08

S… Speaker 1 (Recording (9))

The commission will be met is for what?

24:10

S… Speaker 1 (Recording (9))

It's too late for discussion.

24:11

S… Speaker 1 (Recording (9))

For discussion.

24:12

S… Speaker 3 (Recording (9))

The

24:18

S… Speaker 1 (Recording (9))

parlor is supposed to be three months.

24:21

S… Speaker 1 (Recording (9))

But what will happen is that when we install,

24:24

S… Speaker 1 (Recording (9))

the commission is supposed to end after three months,

24:27

S… Speaker 1 (Recording (9))

then commission registration is back.

24:29

S… Speaker 1 (Recording (9))

So it will still be for three months,

24:32

S… Speaker 1 (Recording (9))

but at the time reports are ready,

24:34

S… Speaker 1 (Recording (9))

it will have cleared,

24:35

S… Speaker 1 (Recording (9))

for example,

24:36

S… Speaker 1 (Recording (9))

the terms and conditions that should happen.

24:41

S… Speaker 1 (Recording (9))

and how they can engage public procurement authority for

24:46

S… Speaker 1 (Recording (9))

the rest of the process.

25:00

S… Speaker 3 (Recording (9))

All right.

25:45

S… Speaker 1 (Recording (9))

So, what would be the red flag is if we present our draft

25:49

S… Speaker 1 (Recording (9))

agreement?

25:50

S… Speaker 1 (Recording (9))

In the draft agreement, we're proposing two things.

25:54

S… Speaker 1 (Recording (9))

Is that a briefing?

26:01

S… Speaker 1 (Recording (9))

So, depending on...

26:02

S… Speaker 1 (Recording (9))

Is the controller who is going to give it to the draft?

26:06

S… Speaker 1 (Recording (9))

So this assemblis,

26:07

S… Speaker 1 (Recording (9))

what we are proposing is the District Assembly Commonwealth Fund.

26:11

S… Speaker 1 (Recording (9))

Then the,

26:13

S… Speaker 1 (Recording (9))

let's say,

26:14

S… Speaker 1 (Recording (9))

Judicial Service from the Ministry of Justice.

26:18

S… Speaker 1 (Recording (9))

So we're still having those.

26:21

S… Speaker 1 (Recording (9))

Then currently they are being

26:25

S… Speaker 1 (Recording (9))

served by private entities.

26:28

S… Speaker 1 (Recording (9))

In actual fact,

26:30

S… Speaker 1 (Recording (9))

when we go to the subject matter itself,

26:33

S… Speaker 1 (Recording (9))

we've taken SIGAR report for 2025.

26:38

S… Speaker 1 (Recording (9))

and we've analysed those that we are serving through third parties.

26:42

S… Speaker 1 (Recording (9))

So for example,

26:44

S… Speaker 1 (Recording (9))

some government sites are

26:48

S… Speaker 1 (Recording (9))

being served by our clients and they are paying

26:52

S… Speaker 1 (Recording (9))

them.

26:53

S… Speaker 1 (Recording (9))

We actually just finished miniature fabric

26:57

S… Speaker 1 (Recording (9))

as an order contract to an ISP and

27:01

S… Speaker 1 (Recording (9))

we just finished.

27:02

S… Speaker 1 (Recording (9))

So they are without directly with

27:06

S… Speaker 1 (Recording (9))

us, they are paying third parties.

27:36

S… Speaker 1 (Recording (9))

But when the government comes in,

27:38

S… Speaker 1 (Recording (9))

the government is in the world,

27:41

S… Speaker 1 (Recording (9))

they have the money,

27:46

S… Speaker 1 (Recording (9))

they don't see why they should be paying the money,

27:49

S… Speaker 1 (Recording (9))

so they don't pay the money.

27:57

S… Speaker 1 (Recording (9))

So anyway, let's

28:01

S… Speaker 1 (Recording (9))

I think we will

28:42

S… Speaker 1 (Recording (9))

Nitha has a minde to sell the government.

28:44

S… Speaker 1 (Recording (9))

I think that currently they sell about I

28:49

S… Speaker 1 (Recording (9))

think 13 of those are through us.

28:51

S… Speaker 1 (Recording (9))

But they pay us and then they engage the third parties.

28:55

S… Speaker 1 (Recording (9))

In this arrangement,

28:57

S… Speaker 1 (Recording (9))

we deliver the service to Nita.

28:59

S… Speaker 1 (Recording (9))

Nita engages the family.

29:02

S… Speaker 1 (Recording (9))

But the risk of payment,

29:04

S… Speaker 1 (Recording (9))

as Chairman said,

29:05

S… Speaker 1 (Recording (9))

is there.

29:06

S… Speaker 1 (Recording (9))

So we will have further

29:10

S… Speaker 2 (Recording (9))

conversation.

29:10

S… Speaker 1 (Recording (9))

Like Chairman said,

29:12

S… Speaker 1 (Recording (9))

before we go far,

29:15

S… Speaker 1 (Recording (9))

the realm will come clear during these 90

29:19

S… Speaker 1 (Recording (9))

days.

29:20

S… Speaker 1 (Recording (9))

All right,

29:21

S… Speaker 1 (Recording (9))

I will come back for authorization to put.

29:23

S… Speaker 1 (Recording (9))

The reason why I asked for that budget,

29:25

S… Speaker 1 (Recording (9))

I know Lita has a project.

29:27

S… Speaker 3 (Recording (9))

So

29:32

S… Speaker 1 (Recording (9))

maybe you can deep

29:36

S… Speaker 1 (Recording (9))

dive to find out how to do against their fundings

29:41

S… Speaker 1 (Recording (9))

and then we can take that back.

30:00

S… Speaker 5 (Recording (9))

Josh, you're welcome.

30:01

S… Speaker 1 (Recording (9))

Thank you,

30:02

S… Speaker 1 (Recording (9))

Josh. All right,

30:03

S… Speaker 1 (Recording (9))

so on your show performance,

30:05

S… Speaker 1 (Recording (9))

I think this is second

30:09

S… Speaker 3 (Recording (9))

quarter, right?

30:10

S… Speaker 1 (Recording (9))

Up to July.

30:12

S… Speaker 4 (Recording (9))

Maybe.

30:12

S… Speaker 1 (Recording (9))

Up to July.

30:14

S… Speaker 3 (Recording (9))

For the

31:22

S… Speaker 1 (Recording (9))

period to July 2026,

31:25

S… Speaker 1 (Recording (9))

we've been able to do 14

31:30

S… Speaker 1 (Recording (9))

% higher than the

31:34

S… Speaker 1 (Recording (9))

budget for the month of July.

31:35

S… Speaker 1 (Recording (9))

And on year -on -year basis,

31:39

S… Speaker 1 (Recording (9))

we've done 12 .8%.

31:42

S… Speaker 1 (Recording (9))

Our EBITDA margin was 47 .7 % versus

31:47

S… Speaker 1 (Recording (9))

a budget expectation of 26 .4%.

31:51

S… Speaker 1 (Recording (9))

Our year -to -day loss is

31:55

S… Speaker 1 (Recording (9))

77 % lower than budget.

31:59

S… Speaker 1 (Recording (9))

And we ended the year with

32:03

S… Speaker 1 (Recording (9))

2 .2 million loss in net loss.

32:07

S… Speaker 1 (Recording (9))

Our cash position as of the end of July

32:12

S… Speaker 1 (Recording (9))

was 418 ,000 cities.

32:15

S… Speaker 1 (Recording (9))

And then we expect to end the year with a profit

32:20

S… Speaker 1 (Recording (9))

at a tax of 857 ,000 MLS.

32:25

S… Speaker 1 (Recording (9))

Compared to a loss position of 13

32:29

S… Speaker 1 (Recording (9))

percent.

32:29

S… Speaker 1 (Recording (9))

Sorry,

32:30

S… Speaker 1 (Recording (9))

13 million we had.

33:11

S… Speaker 1 (Recording (9))

Agenda 8,

33:12

S… Speaker 1 (Recording (9))

you give a task that you should come with a plan.

33:14

S… Speaker 1 (Recording (9))

So providing

33:21

S… Speaker 1 (Recording (9))

a bit more flesh,

33:25

S… Speaker 1 (Recording (9))

the actual for the period

33:30

S… Speaker 1 (Recording (9))

to July is 30 million Ghana cities

33:34

S… Speaker 1 (Recording (9))

compared to about that of 26 million.

33:39

S… Speaker 1 (Recording (9))

and the previous year performance of 26 .6.

33:42

S… Speaker 1 (Recording (9))

So we've done slightly higher than

33:47

S… Speaker 1 (Recording (9))

what last year performance has been and what the

33:51

S… Speaker 1 (Recording (9))

budget expects.

33:52

S… Speaker 1 (Recording (9))

In terms of gross profits,

33:55

S… Speaker 1 (Recording (9))

we did 19 million compared to a budget of

33:59

S… Speaker 1 (Recording (9))

14 and the last year performance of 14 million.

34:03

S… Speaker 1 (Recording (9))

Operating expenses is fairly

34:07

S… Speaker 1 (Recording (9))

same and have dropped in this year

34:10

S… Speaker 1 (Recording (9))

because some of the routes that we will depend on tech parties

34:14

S… Speaker 1 (Recording (9))

plan the network out.

34:16

S… Speaker 1 (Recording (9))

So we will scale down on some of those as well.

34:21

S… Speaker 1 (Recording (9))

Then in terms of EBITDA, as Elia mentioned,

34:24

S… Speaker 1 (Recording (9))

last year we did 9 million,

34:27

S… Speaker 1 (Recording (9))

currently we are doing 14.3 million.

34:31

S… Speaker 1 (Recording (9))

What made out to get a loss of 2 .2 million is principality

34:36

S… Speaker 1 (Recording (9))

depreciation.

34:38

S… Speaker 1 (Recording (9))

the network is now built,

34:41

S… Speaker 1 (Recording (9))

revenue is now doing a catch up with the existing infrastructure.

34:58

S… Speaker 1 (Recording (9))

And an example we show

35:00

S… Speaker 1 (Recording (9))

when we go to 80 euros.

35:01

S… Speaker 1 (Recording (9))

So here,

35:04

S… Speaker 1 (Recording (9))

we're trying to show,

35:05

S… Speaker 1 (Recording (9))

for example, an average of 14 million,

35:07

S… Speaker 1 (Recording (9))

but for the depreciation of 16 .5,

35:12

S… Speaker 1 (Recording (9))

we have been having a problem.

35:15

S… Speaker 1 (Recording (9))

So principally,

35:16

S… Speaker 1 (Recording (9))

the loss we are recording here is a non -cash loss,

35:21

S… Speaker 1 (Recording (9))

but for the purposes of the shareholder,

35:23

S… Speaker 1 (Recording (9))

it's looking at this bottom line.

35:25

S… Speaker 1 (Recording (9))

and we're just on the verge of crossing over to breaking

35:30

S… Speaker 1 (Recording (9))

point.

35:30

S… Speaker 1 (Recording (9))

And for the period that I reviewed,

35:32

S… Speaker 1 (Recording (9))

just recapping,

35:34

S… Speaker 1 (Recording (9))

64 % is the gross margin,

35:38

S… Speaker 1 (Recording (9))

EBITDA 47.

35:40

S… Speaker 1 (Recording (9))

Our data base is 235 days

35:45

S… Speaker 1 (Recording (9))

and our current ratio is 0 .63 times.

35:49

S… Speaker 1 (Recording (9))

What this shows is we just are the base.

35:53

S… Speaker 1 (Recording (9))

of trying to start and I will explain further

35:57

S… Speaker 1 (Recording (9))

as we discuss that.

35:59

S… Speaker 7 (Recording (9))

So on year -on -year,

36:00

S… Speaker 1 (Recording (9))

we've said much earlier,

36:02

S… Speaker 1 (Recording (9))

so the numbers here are showing the differences.

36:07

S… Speaker 1 (Recording (9))

Revenue, 30,

36:08

S… Speaker 1 (Recording (9))

26,

36:09

S… Speaker 1 (Recording (9))

gross profit,

36:11

S… Speaker 1 (Recording (9))

EBITDA,

36:12

S… Speaker 1 (Recording (9))

and then the ratios as it

36:16

S… Speaker 3 (Recording (9))

comes in.

36:19

S… Speaker 1 (Recording (9))

So what is the quality of our revenue and how

36:24

S… Speaker 1 (Recording (9))

do we move?

36:26

S… Speaker 1 (Recording (9))

Our top 12 clients start from

36:31

S… Speaker 1 (Recording (9))

IT to Digital Infrastructure Ventures and

36:35

S… Speaker 1 (Recording (9))

top 5 of our customers give us 47 % of our monthly

36:39

S… Speaker 6 (Recording (9))

revenue.

36:40

S… Speaker 1 (Recording (9))

The next 5 give us 18 % and

36:44

S… Speaker 1 (Recording (9))

the remaining 32 give us 34%.

36:49

S… Speaker 1 (Recording (9))

What this means is that being an

36:53

S… Speaker 1 (Recording (9))

open access operator,

36:54

S… Speaker 1 (Recording (9))

we still have some work to do.

36:59

S… Speaker 1 (Recording (9))

to push much of the 34 to move into

37:03

S… Speaker 1 (Recording (9))

this.

37:04

S… Speaker 1 (Recording (9))

So with this,

37:05

S… Speaker 1 (Recording (9))

what we've seen,

37:07

S… Speaker 1 (Recording (9))

which affects our cash flow is,

37:09

S… Speaker 1 (Recording (9))

if the top 10 customers delay in

37:13

S… Speaker 1 (Recording (9))

pain, you have a problem with your cash flow because

37:18

S… Speaker 1 (Recording (9))

the top 10 clients are given about 63,

37:21

S… Speaker 1 (Recording (9))

62 % of our revenue,

37:24

S… Speaker 1 (Recording (9))

which has effect on the diversity on

37:29

S… Speaker 1 (Recording (9))

that issue.

37:30

S… Speaker 1 (Recording (9))

So our next phase is trying to deepen this

37:35

S… Speaker 1 (Recording (9))

and diversify reliance on the top 10 to

37:39

S… Speaker 1 (Recording (9))

be able to take care of our destiny.

37:42

S… Speaker 1 (Recording (9))

And we will share much more when we come to how do we prove the

37:46

S… Speaker 1 (Recording (9))

garbage in the business plan and the revenue

37:51

S… Speaker 1 (Recording (9))

actions we have done so far.

37:53

S… Speaker 3 (Recording (9))

Okay,

38:07

S… Speaker 1 (Recording (9))

so you will notice from this shadow that Waiok

38:13

S… Speaker 1 (Recording (9))

It's a new entrant in the market.

38:15

S… Speaker 1 (Recording (9))

They are coming to Africa Fiber.

38:17

S… Speaker 1 (Recording (9))

They are less than a year old.

38:21

S… Speaker 1 (Recording (9))

So we are actively looking for

38:25

S… Speaker 1 (Recording (9))

diversity on both existing clients and 10 -year customers.

38:29

S… Speaker 1 (Recording (9))

So Wyok is one of the new clients.

38:33

S… Speaker 1 (Recording (9))

Echo, for example,

38:34

S… Speaker 1 (Recording (9))

is about two years old with us.

38:37

S… Speaker 1 (Recording (9))

So there is a plan to raise both from existing clients

38:41

S… Speaker 1 (Recording (9))

to scale and also looking at other customers that are not yet our clients.

38:46

S… Speaker 1 (Recording (9))

We're looking to get hyperscalers.

38:49

S… Speaker 1 (Recording (9))

So for example,

38:50

S… Speaker 1 (Recording (9))

Microsoft.

38:51

S… Speaker 1 (Recording (9))

There are providers in Dubai who

38:55

S… Speaker 1 (Recording (9))

trade through local ISPs to serve multinationals here.

38:59

S… Speaker 1 (Recording (9))

We're currently discussing with China Mobile and

39:03

S… Speaker 1 (Recording (9))

then China Telecom.

39:05

S… Speaker 1 (Recording (9))

so that we could be serving their Chinese clients that are in

39:09

S… Speaker 1 (Recording (9))

Ghana because currently they don't really have

39:14

S… Speaker 1 (Recording (9))

people like that.

39:15

S… Speaker 1 (Recording (9))

So in one of our engagement players

39:19

S… Speaker 1 (Recording (9))

like that,

39:20

S… Speaker 1 (Recording (9))

these are the two key ones that we hope we can close a deal.

39:24

S… Speaker 1 (Recording (9))

PCCW is one of also the opportunities

39:28

S… Speaker 1 (Recording (9))

we are perceiving.

39:31

S… Speaker 1 (Recording (9))

organic way we want to grow it,

39:33

S… Speaker 1 (Recording (9))

and then there's also the inorganic.

39:35

S… Speaker 1 (Recording (9))

In addition to acquiring, we are getting new customers

39:38

S… Speaker 1 (Recording (9))

and diversifying our sources.

39:41

S… Speaker 1 (Recording (9))

And we're also changing the product layer.

39:44

S… Speaker 1 (Recording (9))

We started with just last month.

39:47

S… Speaker 1 (Recording (9))

Now we are moving to the internet upstream side,

39:51

S… Speaker 1 (Recording (9))

where you buy,

39:52

S… Speaker 1 (Recording (9))

go -sale and retail to DCMIs

39:55

S… Speaker 1 (Recording (9))

so that the product is not just a large smart conversation.

40:00

S… Speaker 1 (Recording (9))

But we have two products,

40:02

S… Speaker 1 (Recording (9))

three products that you can layer on how that

40:09

S… Speaker 1 (Recording (9))

deepening of your relationships will

40:13

S… Speaker 1 (Recording (9))

take place to increase revenue coming into the business.

40:16

S… Speaker 1 (Recording (9))

That's why I just wanted to make people understand that this is,

40:20

S… Speaker 1 (Recording (9))

we just have been scratching the surface at the moment.

40:23

S… Speaker 1 (Recording (9))

There's a lot more now

40:28

S… Speaker 1 (Recording (9))

than commercialization.

40:30

S… Speaker 1 (Recording (9))

So I just wanted to first

40:34

S… Speaker 1 (Recording (9))

adjust to.

40:34

S… Speaker 1 (Recording (9))

put rest on that point to be

40:38

S… Speaker 1 (Recording (9))

clear to where this,

40:39

S… Speaker 1 (Recording (9))

how this business is going to go.

40:41

S… Speaker 1 (Recording (9))

All right, thank you.

40:45

S… Speaker 1 (Recording (9))

So this is year to date, up to July.

40:49

S… Speaker 1 (Recording (9))

So you will see by end of the year,

40:50

S… Speaker 7 (Recording (9))

some,

40:51

S… Speaker 1 (Recording (9))

for example,

40:52

S… Speaker 1 (Recording (9))

F30 go to date is three from the bottom.

40:55

S… Speaker 1 (Recording (9))

By end of the year,

40:57

S… Speaker 1 (Recording (9))

there could be among the top ten or the top five.

41:00

S… Speaker 1 (Recording (9))

all week because of some information I will share in subsequent presentations.

41:05

S… Speaker 1 (Recording (9))

So

41:06

S… Speaker 1 (Recording (9))

There are some who move out of the top 12 because they are new

41:10

S… Speaker 1 (Recording (9))

and trying to find out.

42:28

S… Speaker 1 (Recording (9))

He is

42:34

S… Speaker 1 (Recording (9))

in the lobby, so admit him.

42:36

S… Speaker 1 (Recording (9))

They are unverified.

42:37

S… Speaker 1 (Recording (9))

Let them unverified.

42:38

S… Speaker 1 (Recording (9))

Admit him.

42:41

S… Speaker 1 (Recording (9))

There he is.

42:45

S… Speaker 1 (Recording (9))

This

42:56

S… Speaker 7 (Recording (9))

microphone is off.

42:57

S… Speaker 1 (Recording (9))

Okay,

42:59

S… Speaker 1 (Recording (9))

that's fine.

43:15

S… Speaker 1 (Recording (9))

Okay, hello,

43:16

S… Speaker 1 (Recording (9))

honorable.

43:16

S… Speaker 1 (Recording (9))

Hello.

Resume

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