Econet to seek help recovering debt
TELECOMS| Aug. 4, 2012, 12:02 p.m.
Zimbabwean telco Econet says it has engaged government to help it recover USD80 million in interconnection fees owed to it by TelOne and netOne.
Econet Wireless CEO Douglas Mboweni said at the company’s AGM that delays in the payment of interconnect debts were among the challenges the telco faced. Other challenges included frequent commercial power outages, delays in approval of site permits, deteriorating access roads to sites and the proliferation of poor quality devices, which affected service.
However, the company had seen strong growth and reports significant demand for voice services as well as immense potential for further growth in data services. Mboweni said Econet also saw potential for further growth in mobile money transfer services.
He attributed the group’s strong financial performance delivered to date to improved operational performance and the introduction of innovative products and services. Among these were MMS services and EcoCash, a mobile money transfer service. Mboweni said over 1 million customers were registered for mobile money transfer within six months of launch.
Customers were also adopting data services in increasing numbers, he said, driven in part by the introduction of a wide range of affordable smartphones and tablets. Over 2 million customers are connected to data services and this growth is expected to increase as more customers gain access to data enabled devices.
He noted: “The penetration of broadband has increased to over 20% of the total market, a notable achievement within 18 months of launch.”
The Group delivered exceptional financial performance in the financial year ended 29 February 2012, with net cash flows from operating activities of USD246,4 million, an increase of 17% from the previous year. The Group maintained its market leadership and sustained over 70% of the mobile market share.
MORE TELECOMS NEWS
Vodafone Ghana provides ‘live-chat’ platform for customersVodafone Ghana says it has launched an online ‘Live Chat’ and ‘Support Centre’ to enhance its range of customer care channels that offer timely and convenient response to customers’ queries. Read More
Juwah’s tenure at NCC endsDr. Eugene Juwah’s tenure as the Executive Vice Chairman of the Nigeria Communication Commission has come to an end. Read More
Etisalat sues MTN over anti-competitive practicesEtisalat has instituted legal action against Nigeria’s dominant operator, MTN, over practices it says threaten its business. Read More
Orange increases interest in the Moroccan operator Méditel with the acquisition of an additional 9%Fipar-Holding (the Moroccan Caisse de Dépôt et de Gestion group), FinanceCom and Orange signed the final documentation increasing Orange's interest in Méditel, the Moroccan telecommunications operator, in application of the agreements they signed in December 2010. Read More
Safaricom gives network assurance ahead of Obama visitSafaricom has assured its subscribers that minimal network disruptions shall be experienced during visit of US president Barack Obama. Read More
Airtel unveils next gen enterprise solution in GhanaAirtel Ghana says it is setting the new standard for Enterprise business solutions with the launch of its business oriented sub brand, Airtel Business. Read More
Tigo Africa Customer Operations Director visits GhanaThe Customer Operations Director for Tigo Africa, Ingeborg Nieuwenhuis, has just concluded a week-long visit to Ghana. Read More
Tigo reinforces security at cell sites due to battery theftTigo says it is determined to invest to ensure a reliable and stable network for its customers despite rampant cable cuts and increasing battery theft. Read More
MTN Ghana introduces Relationship ManagersSubscribers of MTN Ghana can now get any challenges resolved quickly and amicably, thanks to the introduction of Relationship Managers at MTN Ghana’s 82 customer service points across the country. Read More
FEATURED STORYKenyan SACCOS riding on innovation to attract customers
As confidence in mainstream banks remains low due to prohibitive interest rates, customers are embracing Savings and Credit Cooperatives (SACCO) as an alternative.
BEST READ NEWS
IN DEPTHAs curtain falls on MDGs, what next?
Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.