Satellite company Sky and Space Global (ASX:SAS) has announced it has signed its first field trial for a point of sale (POS) device with telecommunications company Paratus Group.
The company says the agreement has the potential to open the door for SAS to supply narrow band communications to thousand of point of sale (POS) devices on the Paratus network across Africa.
The point of sale (POS) device will be connected to a banking partner through an SAS IP network to help connect people throughout key African markets.
The agreement comes after the announcement in August 2017 of a binding commercial offtake contract between SAS and Sat-Space Africa, a wholly owned subsidiary of Paratus Group.
Sky and Space Global Managing Director and CEO Meir Moalem says Paratus is well established in the African market and their customer base reflects the communication needs of the people and corporate in the continent.
Shares in Sky and Space Global (ASX:SAS) are trading 2.94 per cent higher at $0.18.