Afrimax

In 2011, a trio of seasoned telecom executives—Jay Metcalfe, Peter Langkilde, and Rob Philpott—founded Afrimax with an ambitious goal: to build a leading 4G LTE broadband operator in Sub-Saharan Africa. With experience from successful ventures like Millicom and Celtel, the founders set out to acquire licenses and build networks to bring fast, reliable internet to underserved populations. The company gained significant momentum, securing 4G licenses in 12 countries, covering a population of over 222 million people. A pivotal moment came in November 2014 when Afrimax announced a strategic, non-equity partnership with global telecom giant Vodafone. This agreement allowed Afrimax to operate under the Vodafone brand in certain markets, starting with Uganda, and explore further collaborations across the region. This partnership fueled major investor interest. By September 2015, Afrimax had raised a total of $176 million, including a significant $120 million Series C funding round led by Mitsui & Co. to accelerate its 4G rollout. Operations expanded under the Vodafone brand to Zambia and Cameroon. However, the venture began to face headwinds. The partnership in Cameroon ceased in 2017 after a license withdrawal, and the Ugandan operation entered creditor protection. By 2018, Afrimax was restructuring, leading to the sale of its Ghana business and new ownership for its Zambian operation, marking the decline of its initial grand vision. The company is now considered deadpooled.