Telone Predicts 20% Revenue Growth In 2018
Zimbabwe’s fixed line operator TelOne says it is forecasting a 20 percent revenue growth in 2018 on the back of the full implementation of the National Broadband (NBB) project network before year-end, reports NewsDay. In 2017, TelOne achieved a 14 percent increase in revenue to USD 133.76 million on the back of an increase in broadband capacity.
For the year 2018, the company will conclude the implementation of the National Broadband Project through, which is expected to further increase broadband capacity by 50 percent, TelOne corporate communications manager Melody Harry told NewsDay. He said TelOne is targeting to bring connectivity to over 100 000 households in 2018, while the growth of the distribution footprint and extend network coverage to unserved, underserviced and vandalised areas is also a priority.
Through the NBB project, Harry said the company wants to expand its Wi-Fi network by rolling out new Wi-Fi hotspots nationwide to reach over 600 hotspots in 2018. These developments are expected to support the projected growth in revenue market share to 21 percent from the current 16 percent, she said.
In 2016, TelOne embarked on an NBB project in which the company is targeting to increase broadband contribution to 48 percent of revenue by 2020, up from 20 percent. The project is being funded to the tune of USD 98 million under a China Eximbank facility. The TelOne spokesperson said through the 40 percent discount on legacy debt promotion, the company managed to recover USD 9.65 million, bringing the total amount recovered from debtors in 2017 to USD 38,154 million.