2. About Praxis • Praxis Partners LLC (“Praxis”) is a leading middle market investment company focused on innovatively exploring business opportunities emerging in the renaissance of Africa for capital appreciation and wealth creation • Praxis is an international company whose principals have a deep knowledge of Africa and have led diverse transactions for clients across three continents, namely Africa, Europe and North America • Trusted and relied on by scores of leading companies in Africa, Praxis brings high ethics, integrity and senior level attention to each transaction • We have developed a rich & formidable network of blue chip private and institutional investors as well as political leaders and are able to facilitate and participate in transactions ranging from USD$20m to USD$500m Praxis is an innovative, new age investment company that connects African businesses to resources on the continent and beyond, helping all the transaction stakeholders to achieve their respective business objectives seamlessly Page 2

3. eWorld Broadband Forum 2010 Keying Nigeria into Global Broadband Trends Fola Odufuwa Senior Partner, Praxis Partners LLC October 28, 2009

4. The Global Broadband Divide Less than 3 percent of Africans use the Internet Fixed broadband subscribers per 100 inhabitants Source: ITU

5. Global Submarine Cables Africa’s broadband positioning is very remote Causal relationship between global broadband distribution & submarine cables Source: Telegeography

6. Connectivity in Africa • By the end of 2008, Africa had • 32million internet users • 246 million cellular subscriptions • Annual growth in Internet & mobile communications two times faster than global average • Lower fixed line growth • Nigeria leads Africa in many areas of ICT African communications (1998 – 2008) Distribution of Mobile Subscriptions (2008) Source: ITU

7. Satellite Broadband in Africa • Africa has historically relied on satellite systems for internet connectivity • 27% CAGR1 up to 2006 of the satellite broadband industry • Growth driven by large population centers in West & East Africa • Strong, proven demand for digital content and internet broadband • a number of satellite operators (e.g. 03B Networks) plan to launch new satellites in 2010 to meet the increasing demand • Key challenges facing the satellite industry in Africa include: • lack of space segment availability, which is hampering the expansion plans of some operators • Lack of “open skies” connectivity which allows a satellite network to operate across national borders 1: COMSYS VSAT report 2007

8. Mobile Broadband in Africa • 38.7% mobile broadband penetration in developed countries compared to 3% penetration in developing countries • Europe: 220 million suscriptions • Africa: 13 million subscriptions • Nevertheless, Africa mobile broadband is growing rapidly and there seems to be more mobile than fixed broadband users Source: ITU Source: Dataxis

9. Barriers to African Broadband • Though Africa is the world’s fastest growing market for telecommunications, the continent remains a broadband laggard • Marginalized in the global economy (1.2% global trade, 1% internet traffic) • Inadequate information infrastructure - only continent not fully connected (internally or externally) to fiber optics • Highest internet communication costs in the world • Africa’s mobile revolution in the past decade has had negligible impact on internet access, speed, services and productivity • With fixed line penetration per 100 inhabitants ranging from 0.24 in the Central African to 10.77 in South Africa, the continent’s limited fixed infrastructure is a severe barrier to broadband. • There are also political, economic, and legal barriers that limit the growth of broadband in Africa

10. African Broadband Initiatives • Satellite remains the main source of Internet in Africa • On-going submarine cable initiatives include: • East Africa Marine System (TEAMS) connected Kenya with UAE • SEACOM connecting East Africa to Europe & Asia • Africa Coast to Europe (ACE) connecting Europe to South Africa via West Africa • MainONE connecting West Africa to Portugal • These subsea cables should increase Africa’s bandwidth 100-fold & replace satellite as the main source of internet access

11. Future Trends • Operators will be primary providers of broadband connections and the standalone ISP model will fade into oblivion • Massive investments need to be made into infrastructure, particularly transport technologies including fibre optics, national satellites and microwave • Consolidation of regulatory initiatives to cover all aspects of digital communications • Privatize, liberalize and regulate incumbents e.g. NITEL

12. Contact Information International Head Office: Agnita Solomon Praxis Partners (BVI) LLC Mill Mall Tower, 2nd Floor Wickhams Cay 1 P. O. Box 4406 Road Town, Tortola British Virgin Islands VG 1110 Tel: +1-284-494-3034 Fax: +1-284-494-4457 agnita.solomon@praxispartners.biz East & Central Africa: Josephine Mbuthika Praxis Partners ECA 13th Floor, Landmark Plaza P.O. Box 856 Nairobi 00606 Kenya Tel: +254-20-367-2657 Fax: +254-20-367-3232 josephine.mbuthika@praxispartners.biz West Africa: Seyi Owonubi Praxis Partners Ltd 5/7 Ademola Street South-West Ikoyi, Lagos Nigeria Tel: +234-1-271-0566 Fax: +234-1-898-0882 seyi.owonubi@praxispartners.biz