Wave5: Revolutionizing Affordable Connectivity in Nigeria

In a world where internet connectivity is no longer a luxury but a necessity, Wave5 stands at the forefront of revolutionizing access to affordable and high-quality digital services in Nigeria. With its innovative AMPPS platform and a partnership with Globacom, Wave5 is in the process of raising $3 million to broaden its impact. In a recent conversation with Business Insider Africa, Co-CEO Ayọ̀wándé Adálémọ unveiled why Wave5 could very well be the solution to internet accessibility issues affecting millions.

The Need for Change

BI Africa: Wave5 Wireless has emerged as Nigeria’s first public Wi-Fi infrastructure provider. What fundamental challenge did you seek to address, and how vast is the market potential you envision?

“The problem is glaring,” reflects Adálémọ, whose passion for bridging the digital divide is palpable. He and his cofounder, Biola Akinyemi, recognized that millions of Nigerians still struggle to find affordable, high-quality internet access. “Mobile networks are saturated, data is prohibitively expensive, and essential digital services often remain out of reach for the most vulnerable segments of our population.”

Their solution? To alleviate the burden on mobile networks by constructing a dedicated public Wi-Fi infrastructure that is open, affordable, and capable of delivering more than mere connectivity. This vision birthed the AMPPS—Atmosphere Multi-Protocol Provisioning System. This sophisticated platform allows for a layered approach, enabling services like streaming, education, fintech, and e-commerce.

“Imagine,” he continues, “if just 10 million people were to spend ₦500 to ₦750 weekly through Wave5 access points in Lagos alone. That could translate into a recurring revenue stream of over ₦370–400 billion, approximately $250 million annually.” The possibilities are indeed staggering.

Understanding Wave5’s Revenue Model

BI Africa: For potential investors, how can you succinctly clarify Wave5’s business model and its avenues for sustainable revenue?

“Wave5 thrives on a clear monetization strategy,” says Adálémọ, “one that comprehensively weaves together connectivity and services.”

• They deploy public access points in high-traffic areas, selling bandwidth wholesale to mobile networks while offering retail access to end-users.
• The AMPPS platform bundles diverse services, from streaming to learning to fintech, into each user session, which creates layers of monetization for each user.
• By supporting microtransactions and B2B partnerships, they are building sustainable, recurring revenue streams.

“The demand for affordable data and local digital services is consistently on the rise. With AMPPS, we can intelligently deliver and monetize those services wherever we go.”

The Neutral-Host Approach

BI Africa: Your neutral-host model differentiates Wave5 from competitors. Why is this approach particularly suitable for Nigeria and similar African markets?

“Nigeria’s broadband infrastructure is limited, and traditional mobile networks face high operational costs,” explains Adálémọ. “Our neutral-host model is transformative. It allows one Wi-Fi network to serve multiple operators and services at a fraction of the cost of mobile networks.”

“Through AMPPS, telcos can integrate seamlessly, offload traffic, and authenticate users. Furthermore, content platforms can directly launch services approaching users without the burden of developing their own networks,” he continues. This fosters a collaborative ecosystem instead of a competitive one, which is vital in price-sensitive, underserved markets.

Scalability Across Borders

BI Africa: Many investors prioritize scalability. How replicable is the Wave5 model across different cities and regions?

“Our approach is incredibly replicable, thanks to AMPPS,” Adálémọ notes with enthusiasm. “Once we secure rights-of-way in any city, we can deploy quickly across clusters like markets, schools, and parks.”

“AMPPS acts as our control tower. It manages user access, partner services, payments, and analytics across thousands of nodes. Whether in Lagos, Kano, or any other city, consistency is key—AMPPS ensures a uniform user experience and service provisioning.”

“Beyond providing Wi-Fi, we’re offering programmable infrastructure,* he asserts. This flexibility is how we scale, enhancing community connectivity city by city, and eventually, country by country.”

Achievements and Partnerships

BI Africa: What milestones have you achieved so far that could serve as compelling proof points for potential investors?

“We’re well beyond the pilot stage!” beams Adálémọ. “We’ve connected 15 LAMATA bus stops, two major markets in Lagos, and initiated a Proof of Concept with 40 SMEs that delivered over 2 million ad impressions within just 150 days.”

• The AMPPS system is currently operational, actively supporting content, payment, and ad services for thousands of users.
• Moreover, we’ve secured a strategic partnership with Globacom, Nigeria’s second-largest carrier, validating our network’s quality and economic viability.

Funding and Future Aspirations

BI Africa: As you seek to scale your infrastructure, how much funding are you looking to raise, and where will these funds be allocated?

“We’re raising $3 million as part of a larger $50 million rollout plan,” Adálémọ details. “This initial tranche aims to expand our infrastructure by adding over 500 new access points in Lagos and enhancing AMPPS capabilities.”

• Funds will predominantly go towards infrastructure expansion, AMPPS development, and operational growth.

“Overall, AMPPS is a vital investment because it turns conventional infrastructure into a multiplatform service model. This facilitates not just bandwidth monetization but maximizes every interaction on the network.”

In conclusion, as Adálémọ succinctly puts it, “We’re not merely providing connectivity; we’re laying the groundwork for a vibrant digital economy that supports everyone—from individual users to local businesses.”

As we look to the future, Wave5 aspires to be the leading public access infrastructure and digital services platform, powering the aspirations of millions while ensuring attractive returns for investors.

Edited By Ali Musa
Axadle Times International – Monitoring