Millicom Cellular (MICC) remains one of the cheapest ways to play the mobile internet revolution and the growth in Latin America and Africa. Due to global growth and the demand for commodities, Africa is becoming a major growth story and MICC provides one of the few investment options.
MICC has cellular operations in the following 7 African countries with the associated market ranking: Chad (2), DRC (1), Ghana (2), Mauritius (2), Rwanda (3), Senegal (2), Tanzania (2). With 12.2M customers and a population under license of 169M, MICC has huge growth ahead. Cellular remains the only viable option in most of these countries.
Not surprisingly MICC is hitting a new 52 week high today. MICC will remain a solid position in the Growth Portfolio for a long time.