AYO Technology will bid for high-demand radio frequency spectrum, the company announced in a statement.
This follows last week's news that the Independent Communications Authority of SA (ICASA) plans to auction spectrum by the end of March 2019. The decision is seen as a move towards fast-tracking 4G spectrum assignment.
AYO says it plans to use some of the capital raised from its listing on the JSE last year to bid for the spectrum.
The JSE-listed group reveals its spectrum intentions are in line with its investment strategy to support small, black-owned ICT businesses that want to broaden accessibility to broadband services.
"AYO will be inviting smaller black SMMEs in the ICT and telecommunications sector to partner with it in the auction for these [spectrum] licences. To date, the sector has been largely dominated by established telecom operators.
"AYO will invite black ICT companies that want to form part of the consortium for the radio frequencies but that also want to utilise the radio frequencies for their businesses. In addition, AYO will enter into partnerships with existing global multinational partners for the bidding process."
Wallace Mgoqi, chairperson of AYO, says the company welcomes the decision for ICASA to license spectrum for 4G and 5G services in early 2019 and 2020, respectively. "For the first time, black ICT companies will have the opportunity to own such spectrum and to utilise it particularly for data purposes."
Mgoqi adds: "AYO is currently building up a substantial business in data and artificial intelligence for Africa and will make announcements of such partnerships and investments when the company is ready to do so."
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