Power Letters 2024: Prateek Suri, Chairman and CEO Of Maser Group

Prateek Suri, Chairman and CEO Of Maser Group

We are thrilled to share with you our remarkable journey and future aspirations that are set to redefine the landscape of consumer electronics globally. We look back on Maser’s 2023 fiscal year with pride. We achieved much and finished the year with considerable momentum.

Accomplishing 60X returns for Maser shareholders, reflecting the exceptional growth and potential of our company. Last year we topped $500m in revenue and a valuation of $1.9bn which goes to show that even at $1bn we can be profitable.

With plans to expand into other African countries, East Europe, Latin America and other regions worldwide; Maser is poised to redefine the global smart TV market along with white goods.

Founded with a mission to democratise access to affordable and high-quality consumer electronics across the African market, Maser has undergone a transformative evolution. Beginning our journey in Africa, we achieved the significant milestone of becoming a unicorn, a testament to the success of a hardware business in a dynamic and challenging market.

Our recent metaverse launch in Africa was nothing short of inspiring and successful. It marked a pivotal moment for Maser as we ventured into new realms of immersive experiences.

In our existing enterprises, we aim to fortify our competitive advantages, ensuring a continuous stride forward. In emerging domains that are pivotal to shaping future lifestyles — such as AI, IoT, robotics, and the metaverse — we remain committed to harnessing our robust technologies and capabilities. This steadfast approach enables us to adeptly address new challenges through innovative solutions.

As we step into the future, Maser is committed to filling critical gaps, from introducing innovative wearables to developing tech-enabled climate change mitigation solutions. Our goal is to become the foundation of inspiring and rich consumption of thrilling entertainment experiences globally, with a long-term vision of shaping the future of TV experiences across all platforms.

Though most startups will burn through cash to achieve valuations, at Maser our philosophy lies in creating a profit-making environment and ecosystem — and we will continue to endeavour to achieve this.

In our pursuit of excellence, we are not only focused on our core business, but we are also actively contributing to the growth of the tech ecosystem. Our partnership with the African Financial Federation is another testament to our commitment to power African entrepreneurs’ dreams, fostering digital prosperity across the continent.

MDR Investments, the investment arm of Maser Group, was unfurled in 2023, and set sail to acquire large-cap ventures in Africa, the UK and the Middle East. It is navigating into the realms of shipping, AI, and mining of natural resources. And as we chart our course into 2024, our sights are set on expansive investments and ventures, steering the course towards a future of lucrative opportunities and strategic growth. MDR Investments aims to bring innovative practices to the traditionally conservative mining industry. This move not only reflects our confidence in the sector’s potential but also underscores our commitment to reshaping industries through progressive and sustainable business practices.

As we navigate the intricate currents of the investment landscape into 2024, We stand poised to leverage these growth milestones as stepping stones towards a new horizon of success and profitability.