Crowd Mobile Limited (ASX: CM8 & FWB-XETRA: CM3) is pleased to announce that it has continued its global rollout, executing a supply agreement to launch Crowd Mobile services into South Africa. This is the Company’s first foray into the African continent, which represents a significant growth opportunity for the Crowd Mobile business going forward.
Commenting on Crowd Mobile’s launch, Chief Executive Officer Domenic Carosa said:
“We are very excited to be entering the South African market. South Africa has a population of over 50 million people, with a smartphone penetration rate of 40%, representing a substantial growth opportunity for Crowd Mobile.
“This agreement marks the first step of further expansion by Crowd Mobile into the African region and is therefore a very significant milestone for the Company and its geographic rollout.
“South Africa has one of the largest telecommunications markets on the African continent, and mobile phone use is rapidly increasing. A recent report shows more than 60 per cent of South Africans regularly use mobile phones to access the internet.
“This agreement is consistent with Crowd Mobile’s organic geographic expansion strategy of more than doubling its m-payment distribution network. We are very excited about capitalising on the opportunities in South Africa and adding additional revenue streams to the Crowd Mobile business”, said Mr Carosa.
Crowd Mobile has in place a network of over 1,000 crowd-sourced experts based globally, and is operating in over 40 countries and 28 different languages.
For further information please contact:
Domenic Carosa Eric Kuret
Chief Executive Officer Investor relations, Market Eye
M: +61 411 19 69 79 M: +61 417 311 335
About Crowd Mobile
Crowd Mobile is a global m-Content, m-Payments, m-Commerce, mobile entertainment and micro job company that allows customers globally to crowd source answers to their much-needed questions and pay a small fee for each answer received. Crowd Mobile operates in over 40 countries and answers in 28 languages. Crowd Mobile answered more than 5.7 million questions in FY15.