Meet Ayọ̀wándé Adálémọ, the Nigerian entrepreneur building Africa's fast-growing public Wi-Fi network — and making it profitable

Business Insider

a day ago

Nigeria's internet infrastructure is under pressure. Mobile networks are congested, data remains expensive, and for millions of Nigerians, access to reliable, high-speed internet is still a daily struggle. While telcos battle spectrum limitations and rising costs, one startup is taking a different route, literally.
Wave5 Wireless is betting on public Wi-Fi as the future of last-mile connectivity in Africa. Led by founder and CEO Ayọ̀wándé Adálémọ, the company is building a neutral-host infrastructure that enables telcos, fintechs, and content providers to deliver services over shared Wi-Fi access points in busy public spaces, including markets, schools, and bus shelters.
With its proprietary AMPPS platform and a strategic offload partnership with Globacom already underway, Wave5 is now raising $3 million to expand its reach. In this exclusive interview with Business Insider Africa, Adálémọ shares why Wave5 could be the key to unlocking affordable internet at scale, how its model creates multiple monetization paths, and why investors should take notice.
BI Africa: Wave5 Wireless has positioned itself as Nigeria's first public Wi-Fi infrastructure provider. What was the original problem you set out to solve, and how big is the market opportunity you see today?
Ayọ̀wándé Adálémọ: I and Biola Akinyemi set out to solve a major problem: affordable, high-quality internet access is still out of reach for millions in Nigeria. Mobile networks are congested, data is expensive, and digital services remain inaccessible for those who need them most.
Our goal was to offload traffic from overstretched mobile networks by building a dedicated public Wi-Fi infrastructure layer that's open, affordable, and smart enough to support more than just connectivity. That led to the creation of AMPPS, our Atmosphere Multi-Protocol Provisioning System, which allows us to layer streaming, education, fintech, and e-commerce services on top of Wi-Fi access.
The market opportunity is enormous. If even 10 million people spend ₦500–₦750 a week through Wave5 access points, we're looking at a recurring revenue engine worth over ₦370–400 billion (~$250M) annually, and that's just Lagos.
BI Africa: For potential investors, what's the simplest way to explain Wave5's business model and how it generates sustainable, recurring revenue?
Ayọ̀wándé Adálémọ: Wave5 monetizes connectivity + services at scale.
We deploy public access points in high-traffic locations and sell bandwidth wholesale to mobile networks and retail access to end-users.
Our AMPPS platform bundles services like streaming, learning, ads, and fintech into each user session, creating multiple monetization layers per user.
We support both microtransactions and B2B partnerships (e.g., telcos, banks, creators, governments), creating recurring revenue streams.
It's sustainable because the demand for affordable data and local digital services keeps growing, and AMPPS ensures we can dynamically deliver and monetize those services anywhere we deploy.
BI Africa: Your neutral-host approach is a key differentiator. Can you talk about why this model is especially well-suited for Nigeria and other African markets?
Ayọ̀wándé Adálémọ: Nigeria, like much of Africa, has limited broadband infrastructure, high spectrum costs, and low ARPU. Our neutral-host model solves this by letting one Wi-Fi network serve multiple operators and services at a fraction of mobile network costs.
With AMPPS, we make this seamless. It enables telcos to plug in, offload traffic, and authenticate users. At the same time, fintechs, edtechs, and content platforms can launch services directly to users via our captive portal without building their own networks.
This model lowers the barrier for digital inclusion and makes infrastructure collaborative, not competitive. That's essential in price-sensitive, underserved markets.
BI Africa: Investors often ask about scalability. How replicable is the Wave5 model across different cities in Nigeria and other emerging markets in Africa?
Ayọ̀wándé Adálémọ: Very replicable. AMPPS makes it possible.
Once we secure rights-of-way in any city, the rest of our system deploys rapidly in clusters: markets, schools, parks, or transit hubs. AMPPS serves as our control tower managing user access, partner services, payments, and analytics across thousands of nodes.
Whether in Lagos or Kano, AMPPS ensures consistency in user experience, service provisioning, and revenue tracking. It supports multi-tenant environments, remote updates, and plug-and-play integrations with telcos, banks, content platforms, and government portals.
It's not just Wi-Fi, it's programmable infrastructure. And that's how we scale, city by city, country by country.
BI Africa: Tell us about the traction you've achieved so far. What are the most important proof points you'd highlight to someone considering investing?
Ayọ̀wándé Adálémọ: We've moved well beyond pilots:
15 LAMATA bus stops and 2 major markets (Sabo and Iponri) in Lagos already connected.
A Proof of Concept with 40 SMEs delivered over 2 million ad impressions in 150 days via our captive portal.
AMPPS is live, powering content, payment, and ad services for thousands of users across our network.
We've signed a strategic offload partnership with Globacom, Nigeria's second national carrier.
These proof points validate our infrastructure, revenue model, and most importantly our platform's ability to integrate and monetize digital services at the edge.
BI Africa: You recently announced a partnership with Globacom. How does this collaboration serve as validation for your model, and what door does it open for expansion?
Ayọ̀wándé Adálémọ: Globacom's partnership is a game changer. It affirms the carrier-grade quality and economic logic of our network. Through our trial, they're offloading mobile traffic onto Wave5's public Wi-Fi zones, reducing pressure on their licensed spectrum while enhancing user experience.
AMPPS handles seamless user authentication, session management, and reporting, making it easy for telcos to trust and use our infrastructure. This success sets a precedent for integration with other operators and opens up state-level collaborations and nationwide scale.
It's a clear signal to the market: public Wi-Fi offload is commercially viable and Wave5 is ready.
BI Africa: Funding is critical for scaling infrastructure. How much are you seeking to raise currently, and how will those funds be deployed?
Ayọ̀wándé Adálémọ: We're raising $3 million as part of a $50 million rollout plan. This first tranche is focused on:
Infrastructure expansion: scaling to 500+ new access points in Lagos.
AMPPS development: enhancing API integrations, analytics, and fintech features.
Operations & growth: local teams, regulatory approvals, and platform partnerships.
AMPPS is a core investment area because it turns infrastructure into a multiservice platform. Allowing monetization not just of bandwidth, but of every interaction on the network.
BI Africa: Connectivity is often seen as a social good but can be tough to monetize. How does Wave5 balance affordable access for users with strong returns for investors?
Ayọ̀wándé Adálémọ: We drive revenue through volume and value-added services, not high per-user pricing.
Users pay as little as ₦100 for a daily session, or access content for free via ads or bundles. But AMPPS lets us monetize each user multiple times via ads, fintech transactions, or embedded services from partners.
Investors benefit from this multi-sided platform model. We own the pipe, the captive portal, and the provisioning engine so we capture value from access, services, and data.
Affordable for users. Scalable for partners. Profitable for investors.
BI Africa: Beyond simply delivering Wi-Fi access, what role do you see Wave5 playing in enabling other digital services and supporting local businesses?
Ayọ̀wándé Adálémọ: Wave5 is a launchpad for Africa's digital economy.
Through AMPPS, we deliver streaming, education, e-commerce, and payment solutions at the edge of the network directly to users in public spaces. Each hotspot becomes a bank branch, media hub, and digital storefront, especially for informal workers and SMEs.
We empower:
Traders to sell digitally.
Creators to earn from video, music, or education.
Fintechs to serve unbanked users with wallets, loans, and savings.
In doing so, we create a virtuous loop where digital services fund the network, and the network enables more services.
BI Africa: Looking ahead 3–5 years, what's your vision for Wave5 Wireless, and what would success look like to you and your investors?
Ayọ̀wándé Adálémọ: In five years, Wave5 will be Africa's largest public access infrastructure and digital services platform, serving tens of millions daily.
Success means:
AMPPS managing 100,000+ hotspots across Nigeria and beyond.
Seamless offload partnerships with major MNOs, MVNOs, and global platforms.
A thriving local economy where small businesses, creators, and institutions grow over Wave5 rails.
We'll be the default digital layer for cities powering inclusion, services, and opportunity. For investors, this translates to exponential growth, platform defensibility, and long-term infrastructure value.
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