State of Digital – Angola: February 2018

Africa's last telecoms Eldorado opens up


 

In the midst of an acute economic crisis, Angola has decided to open up its telecoms market in a bid to attract foreign capital. Our State of Digital report takes a look at telecoms and digital services opportunity in the Angolan market, sizing up the upsides and risks in the country's digital infrastructure, consumer and enterprise segments. We provide an in-depth assessment of the proposed fourth mobile licence and the privatization of Angola Telecom. You can download sample pages from the report here.

Even by African standards, Angola remains as tough a market as they come. We assess whether, ultimately, Africa's last Eldorado isn’t merely another investor mirage. Buy now.

Xalam Analytics 'State of Digital – Angola: February 2018'report cover

SIZING UP THE ANGOLAN ICT OPPORTUNITY
State of Digital: Angola provides an in-depth assessment of the opportunities arising from Angola’s decision to award a fourth mobile licence and privatize state-owned Angola Telecom. We analyze the current state of key segments of the Angolan ICT market – mobile, B2B and wholesale. We assess addressable demand and competitive dynamics and lay out our projections for each segment. We make the case (or lack thereof) and outline the critical risks we see for these opportunities, from OpEx and CapEx requirements to regulatory frailty, and the crucial challenge posed by Angola’s web of interlocked stakeholder relationships.

A reference report for any would-be investor in the Angolan ICT market. All in Xalam’s identifiable no-nonsense, economics-focused style. Buy now.

THE TRENDS WE SEE, THE POINTS WE MAKE

We say a lot of things in this report -always supported by data – including:

  • Angola’s economic crisis and a new president are providing the momentum for action the country has long resisted.
  • The potential is solid. This the third largest economy, and the fourth largest telecoms market in sub-Saharan Africa.
  • The B2B segment is one of the largest in sub-Saharan Africa. While not immune from the challenges that have afflicted the sector, the B2B segment has performed better than the broader market;
  • There is upside: mobile penetration is low, half of Angola’s mobile addressable market is underserved.  
  • The very nature of the Angolan mobile market creates substantial room for differentiation for a new entrant.
  • The subscriber case for the fourth licence is strong, as is the revenue case. We find the OpEx and CapEx cases to be extremely challenging.
  • Angola Telecom is a troubled business. But we see solid underlying value in its unique pool of assets; in this case, the parts look better than the whole.
  • A critical characteristic of the Angolan ICT market is its remarkable interlocking of interests. These will be difficult to break.
  • This matters, because success in the Angolan market, in our view, would require a challenging of the existing market structure, along with tangible regulatory action to foster true competition.
  • The opening of Angola’s telecoms market is welcome – but still may not go far enough for the opportunity to be truly compelling. Buy now.

 

WHAT EXACTLY IS IN THIS REPORT?

50 Pages of analysis and extensive data on the Angolan ICT market; demand, supply, key players, pricing and the business case for the fourth licence and Angola Telecom.
Supported by ~60 data Charts, maps & Visuals
50 Charts with underlying chart data in Excel format – (Premium Pack Only)
Key Sections of the report are below. 

Please download the free excerpt for full table of contents, list of charts and sample pages.

EXECUTIVE SUMMARY: AFRICA’S LAST DIGITAL ELDORADO

MACRO-ECONOMIC CONTEXT: DISTRESS SPURS ACTION

  • Overview: the third largest economy in sub-Saharan Africa
  • The Angolan economy is in a state of crisis
  • Why now: A new president, and a momentum for action

TELECOMS MARKET OVERVIEW

  • A highly concentrated ~$1.8bn ICT services market*
  • Three years of significant lost value for the Angolan ICT market
  • Summary outlook – moderate growth lies ahead
  • Angola enterprise ICT adoption – The players

THE ANGOLAN MOBILE OPPORTUNITY

  • Angola mobile: big market, punching below its weight
  • Mobile addressable market – only ~60% served to date
  • It’s not just the economy: business model and SIM registration dampen market growth
  • …but mobile broadband is a bright spot
  • The revenue side: the fourth largest market in sub-Saharan Africa
  • Breaking down the Angolan pricing model: high and higher
  • Angola’s challenging price context – higher than most, yet still falling in real terms
  • Angola’s tough revenue cycle: this is not just about inflation and FX
  • Looking for upside: incumbent operators have few options to boost the revenue base
  • Our projections: competition underpins strongly positive outlook

ANGOLA’S ENTERPRISE ICT OPPORTUNITY

  • Breaking down Angola’s B2B ICT demand
  • The fixed broadband market: Luanda, Benguela or (mostly) bust
  • The third largest ICT B2B market in sub-Saharan Africa
  • B2B is doing better than the broader ICT market
  • Angola ICT B2B – Our projections

ANGOLA WHOLESALE: THE MAKING OF A HUB

  • Angola wholesale: more dynamic internationally than domestically
  • Angola wholesale: building a traffic hub

MAKING THE CASE: ANGOLA’S GREENFIELD LICENCE

  • The greenfield licence: opportunity summary
  • The greenfield operator’s revenue case: strong
  • The greenfield operator’s revenue case: market share, ARPU and MBB
  • The greenfield operator’s cost case – challenging
  • The greenfield operator’s CapEx case – demanding

THE ANGOLA TELECOM CASE

  • The Angola Telecom opportunity: primarily a wholesale play
  • Looking for upside: Angola Telecom’s parts look better than the whole

SUMMARY RISK ANALYSIS: NO STRONG CASE WITHOUT TRUE TRANSFORMATION

  • Weight of government, maze of interlocked interests hamper ICT market growth
  • The interdependent relationships of Angolan ICT players
  • Risk analysis: macroeconomics, government intervention and tangled relationships
  • Risk analysis: a weak regulator and a dominant player make for a tough combination
  • Risk analysis: high OpEx and CapEx mean limited visibility on payback
    Buy now
.

 

HOW MUCH IS IT & HOW DO I GET IT?

The Xalam Angola Country Report is available in two versions adapted to your budget:

A Standard Version – USD 1,000 / GBP 719
1-5 Users Licence
Report Delivered in PDF Format – Including:
50 pages of analysis
56 Charts & Visuals

A Premium Version – USD 1,250 / GBP 899
Corporate Licence
Package delivered in Winzip or custom Box cloud folder, including:
Report in PDF – 50 Pages of analysis
50 Charts with underlying chart data in Excel format – (Premium Pack Only)

You can purchase by credit card or PayPal.

Buy now!


Standard Version:
1-5 Users Licence ~ report in PDF Format including: 50 pages & 56 Charts & Visuals GBP 719


Premium Version:
Corporate Licence ~ delivered in Winzip or custom Box cloud folder in PDF format: 50 pages & 56 charts with Excel chart data GBP 899

 

Table of Contents and Sample Pages for Xalam Analytics' 'State of Digital: Angola'