On Tuesday, October 17, Termii’s salesperson, Olajuwon Abayomi, used a 20-minute speech to deliver an avid endorsement of the company. It hosted one of the day’s key themes, "Communications for Africans and African businesses,” on the grounds of the Better Future stage, a booth that was used during the ongoing Mobile World Congress (MWC). The message was clear: Africa is no longer on the sidelines; it is leading the charge.
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What is it that Termii has done so far? Termii’s software platform integrates a mobile messaging channel, a two-factor verification application, and, most recently, a customer support channel. This channel enables businesses to interact with their customers in real time through live chat, using various mobile messaging channels and social media platforms. And, perhaps more importantly, it provides accessible and adaptable platforms designed to cater to the needs of both technical and non-technical individuals across Africa.
"So African businesses need to actively connect with customers and gain a deep understanding of the dynamics involved in these interactions to fine-tune their communication strategies,” Ayobami said.
The company presented its robust communication platform, highlighting 600 million transactions, processing six billion wallet transactions for messaging and call services, facilitating over 13,000 businesses in terminating SMS and voice messages through their API each month. In addition, their user-friendly non-code campaign dashboard allows them to verify and engage more than 5.6 million African mobile subscribers with businesses in their network on a monthly basis.
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Yet, while there are many companies addressing wallet transactions — the main culprit in business-customer communication — only a few prioritise currency matters. In particular, there's a scarcity of solutions addressing foreign exchange challenges. It's worth noting that many of the existing solutions originate from continents like Europe and the US. This poses an issue for most of Africa, where many countries have low-value currencies. Consequently, when businesses must pay for platforms located outside the continent, it often results in huge expenses.
"And so,our goal at Termii is to offer these solutions in our local currency, ensuring that businesses can interact with customers at more reasonable expenses, ultimately helping them sustain profitability,” said Abayomi.
Their timing couldn’t have been better. Home to the youngest population in the world, African tech start-ups broke records in 2022 by raising over $3 billion. The digital revolution in the region has brought about a paradigm shift in the way business is conducted, and it is creating new opportunities for entrepreneurs, innovators, and consumers.
The African tech sector is gaining recognition, with Google committing $50 million to invest in African startups and $1 billion in tech-led initiatives over the next five years.
Hiruy Amanuel, a Silicon Valley venture capitalist and managing director of Gullít, is optimistic about Africa's potential, citing the untapped talent and the emergence of tech hubs across the continent.
Termii unveiled its announcement at the esteemed tech industry conference in Kigali. MWC caters to both the African and international technology communities interested in conducting business within Africa. It brings together businesses from a wide spectrum of technology sectors and other industries that stand to benefit from the ongoing digital transformation.
The conference typically draws a diverse audience, with attendance exceeding thousands of people representing over 984 companies, featuring 220 plus speakers, and hailing from more than 75 different countries.
Although the majority of attendees are male, the event boasts greater diversity compared to the typical tech conferences. People from various countries worldwide are participating in the conference. As you stroll through the venue, you can hear conversations in languages such as English, French, Chinese, Korean, Spanish, Italian, and Arabic.