Arron Nyamayaro, H-Metro Reporter
EFFORTS to address copper network thefts through a project to replace copper with fibre and other technologies less prone to vandalism are under way, a board chairperson has said.
TelOne board chairperson Dr Douglas Zimbango said this on Thursday at the company annual general meeting which was held virtually.
“While efforts have been made to improve our client experience, the business continues to experience setbacks resulting from copper network vandalism,” said Zimbango.
“We continue to be mindful of network vandalism that not only affects our reputation but has become costly to the business.
“Today TelOne held its 7th successive Annual General Meeting where its Audited Financial Results shows an inflation adjusted revenue growth of 147 percent mainly propelled by an upsurge in demand in broad band services.
“Revenue increased by 147 percent, in inflation adjusted terms from $1.9 billion in 2019 to $4.7 billion in 2020 owing to a 14 percent increase in broad-band subscribers coupled with a 22 percent increase in usage.
“The upsurge in demand for Home Broadband services was driven by the COVID-19 induced remote working model(tele-working) adopted by many corporates, accompanied by an increase in online shopping and e-learning.
“Despite the slowdown in the economy due to the COVID-19 pandemic, the company managed to post an inflation adjusted operating profit of $523million from $449million in the previous year, building on the strong performance recorded in the inaugural year of the Telecommunication Media and Technology (TMT) strategy in 2019.
“Influenced by our client centric approach, TelOne achieved an improved customer satisfaction index of 79% in 2020 as compared to 73.2 percent in 2019.
“We remain committed to enhance customer experience through new services, improved customer support and efficient customer complaints resolution,” he said.
Zimbango said TelOne remains confident of its ability to deliver their vision through the dynamic strategies that are coming through as well as the support of the shareholders.