“We’re delighted to be partnering with Bryan and the team at propertymaputo. The business has a great platform in place and is moving in the right direction in what we see as a truly dynamic market in Africa. The combination of our experience and funding along with Bryan and the teams passion and commitment we think makes for a great opportunity to build a market leading business in Mozambique,” said Frontier Digital Ventures CEO, Shaun Di Gregorio.
Propertymaputo was founded by South African Bryan Wester and has focused on the English language market in Mozambique. The website is now undergoing transformational change as it extends its focus to cover the local language Portuguese language market with a revamp of its design and functionality by property portal design firm, CAV Digital Marketing Services.
Mozambique’s rapid strides over the past two decades in both political and economic arenas, has seen the country emerge as one of the world’s fastest growing economies. High speed economic reforms, including privatising thousands of state-owned enterprises whilst streamlining foreign investment procedures have catalyzed tremendous economic growth, averaging 7% GDP growth which is expected to rise to greater than 8% from 2016 onwards.
With a population of 26 million people, the country is widely regarded as one of the highest growth potential telecom markets in Africa with an existing 1.5 million Internet users and 13 million mobile users. The completion of two submarine fibre optic cables in 2009 and 2010 have connected Mozambique to the international network and lowered the cost of bandwidth, while the newly vibrant telecommunications industry ensures efficient delivery of 3G at competitive prices.
Headquartered in Kuala Lumpur, Malaysia, historically a leading frontier market, Frontier Digital Ventures has a mandate to invest in five key frontier regions: