Zimbabwe – THE nation-wide installation of Long Term Evolution (LTE) base stations and network modernization cost US$8,5 million last year, according to state-owned fixed telecoms company TelOne.
The government has placed the telecommunications company under the direct supervision of the Mutapa Investment Fund (MIF) in order to maintain its profitability, increase its profitability if it does not already exist, and accumulate assets that are owned by the citizens.
The newly expanded and updated Sovereign Wealth Fund is what led to the creation of the MIF.
Also read: Watch | Mai Rumbie and Madzimai Emily video’s Top June Most Trending Topics
Following its annual general meeting last week, TelOne released a statement stating that it made significant capital investments to support its growth strategy drive during the year under review using money generated internally.
“TelOne continues to seek initiatives to collect funds for infrastructure development and network upgrade projects, but it needs an infusion of US$250 million to enable the deployment of digital platforms and network infrastructure.
It stated that the company has contributed US$8,5 million for system modernization and the installation of Long Term Evolution (LTE) base stations during that time.
Increased investment in fibre rollouts to replace outdated copper networks, LTE carrier aggregation in Chitungwiza, the upgrade of the Harare Metro ring to 100Gb, the successful implementation of the Service Control Gateway and Bandwidth Manager, all of which improved customer experience, are some of the major projects undertaken.
To enhance the calibre and velocity of broadband services within the network, upgrades were also made to the Broadband Remote Access Server (BRAS) located in Bulawayo and Harare.
According to TelOne, the company’s financial results were greatly damaged by foreign legacy loans, which made it more difficult to raise further funding for infrastructure projects.
The company said that despite the damage to its infrastructure, it has been steadily enhancing its network capabilities over the past year, leading to a 29% increase in volume sales of data.
The telecom company reported that its market share and business growth had increased by 32% in 2024, up from 27% in the previous year. This upward trend is anticipated to continue.
TelOne’s ongoing efforts to provide the market with a range of digital solutions are encouraging.
The company’s overall number of voice and home broadband subscribers increased by 5% to 397 278 in 2023.
Due to the convenience, affordability, and dependability of VoIP lines over traditional landlines, businesses and households have been adopting more of them, which has had a substantial impact on the increase of fixed VoIP subscriptions. Investment in network deployment, which saw an 18% increase in fibre to the home deployment and an 11% increase in the overall fibre network, helped to further support this expansion, according to TelOne.
Meanwhile, the telecom company battled rampant cable theft during the period under review.
Theft of copper cables and other essential network equipment has increased nationwide as a result of rising copper prices and a faltering economy. Vandalism is a major problem for the corporation, affecting more than 60% of its infrastructure and making it difficult for it to provide high-quality services.
“426 vandalism events affecting 44 200 clients were reported in the past year. According to the report, this led to an estimated loss of US$707,064 in restoration expenses and US$339,311 in lost revenue.
For comments, Feedback and Opinions do get in touch with our editor on WhatsApp: +44 7949 297606