News / National
Government owned Internet provider to invest $30m in network expansion
30 Mar 2013 at 10:46hrs | Views
Government owned internet provider, Powertel, has announced plans to invest close to US$30 million in network expansion this year as the firm moves towards consumer internet service provision.
The ZESA Holdings subsidiary has invested US$8 million in the business this year and is aiming to grow revenue from US$32 million to about US$100 million by 2016.
The firm has since established a fibre optic network of 5 000 kilometres connecting to the undersea cable in Mozambique and established a presence in most of the country's major cities and towns.
Speaking at a media briefing, the firm's board chairman Mr Francis Chirimuuta said the company has performed exceptionally well for the government entity.
"We would like to focus on growing our consumer business and corporate from mostly selling wholesale internet to internet providers and big corporate buyers," said Mr Chirimuuta.
The internet service provider recorded US$20.2 million in revenue last year and a 620 percent rise in profit before tax to US$31 million from US$428 000 in 2011.
The firm has become the country's 4th largest data network leveraging on existing infrastructure.
The ZESA Holdings subsidiary has invested US$8 million in the business this year and is aiming to grow revenue from US$32 million to about US$100 million by 2016.
The firm has since established a fibre optic network of 5 000 kilometres connecting to the undersea cable in Mozambique and established a presence in most of the country's major cities and towns.
Speaking at a media briefing, the firm's board chairman Mr Francis Chirimuuta said the company has performed exceptionally well for the government entity.
"We would like to focus on growing our consumer business and corporate from mostly selling wholesale internet to internet providers and big corporate buyers," said Mr Chirimuuta.
The internet service provider recorded US$20.2 million in revenue last year and a 620 percent rise in profit before tax to US$31 million from US$428 000 in 2011.
The firm has become the country's 4th largest data network leveraging on existing infrastructure.
Source - ZBC
