Business Editor's Choice

Airtel to spend $50m on network

AIRTEL Networks Zambia Plc is this year expected to inject a capital of about US$50 million to enhance economic opportunities in urban and rural areas through improved network system.
Meanwhile, the company recorded a gross profit of about K1.9 million last year compared to about K1.55 million in 2015, representing a 20 percent increase.
Airtel chairperson Monica Musonda said the investment will enable the company to upgrade its operations to enhance its competitive edge.
Speaking in an interview on the sidelines of the company’s annual general meeting last week, Ms Musonda said Airtel will continue to invest heavily in improving the use of telecommunication and refined delivery of services through network optimisation.
“Despite operating in an increasingly tough environment marked by fierce competition, inflationary pressure and exchange fluctuations, overall performance of the company remained strong.
“I remain excited about the long-term prospects for the industry as well as the continued growth of the business as appetite for data, among other things, continue to grow rapidly and smartphone adoption accelerates,” she said.
Commenting on the financial overview, Ms Musonda said the business continued to improve its margins due to strong cost measures such as a reduction in operating expenses and war on waste, which aims at improving operations without necessarily compromising on the quality of services offered to customers.
“The yardstick of measure for any company’s success is, undoubtedly, profitability. It is pleasing to report that the company’s revenue grew by 10.1 percent from K1.924 million in 2015 to K2.118 million in the period under review while gross profit increased from K1.548 million in 2015 to K1.858 million in 2016,”she said.
And Airtel managing director Peter Correia said the company will continue to make substantial investments in the network by deploying high-speed wireless communication for mobile phones and data terminals to improve overall customers’ experience.

Facebook Feed