HARARE, January 4 (The Source) – State-owned fixed line operator, TelOne, says it sees its revenue growing by at least nine percent this year driven by an anticipated surge in broadband revenue.
TelOne has been transforming its business model to a fully converged telecoms firm, with data becoming increasingly significant.
The company is currently upgrading its fibre network under a $98 million Chinese loan.
Managing director Chipo Mutasa told The Source on Thursday that expansion of the network was 70 percent complete with full completion expected by midyear.
“We are quite excited that the broadband expansion project is being finalised because it will allow us to bring new features onto the market which can improve our revenue earnings and collections. We are expecting our numbers to be better than last year by between nine and 15 percent increase in revenue,” said Mutasa.
“At the end of last year our data revenue was more than 40 percent of total revenue, coming from a situation were voice was contributing between 60 and 70 percent of total revenue. Going into 2018 we might actually see data at between 50 and 60 percent.”
TelOne is owed more than $200 million in debts and Mutasa said that the company expects to recover a significant chunk of that amount this year.