Celtel Zambia, the country’s largest mobile firm, said on Wednesday it would list 20 percent of its shares on the Lusaka Stock Exchange next year and predicted its subscriber base would reach 2.7 million by December 2008.
Celtel Zambia is a unit of Celtel, which is owned by Kuwait’s MTC TELE.KW and runs networks in 14 African countries.
“We hope very much to list on the Lusaka Stock Exchange as early as possible in 2008 … in terms of size, we are still thinking of 20 percent of the shares,” Celtel Zambia managing director David Venn told a news conference.
Venn said Celtel Zambia’s application to list the shares was yet to be approved by the state-run Securities Exchange Commission.
From 1.3 million subscribers in January, Venn said Celtel users should reach 2 million before the end of December.
“We are still in heavy investment mode and that continues in 2008. This year our growth will be 700,000 customers and we expect the same growth for next year,” he said.
Venn said Celtel, which spent $140 million to upgrade and expand its network in 2007, would spend a similar amount next year, although this had not yet been approved by shareholders.
Demand for African mobile assets is booming as operators from South Africa, Europe and the Middle East pay fat multiples for a slice of some of the world’s last unsaturated markets.
Official data shows that only 21 percent of Zambia’s 11.5 million people currently use mobile phones.
“We (Celtel Zambia) are sure we can get to 40 percent of the population and Celtel will get most of those,” Venn added.
Celtel has 80 percent of the Zambian market and competes with MTN and Cell-Z, a subsidiary of the state Zambia Tele-communications Company Ltd.
In its release of its subscriber numbers for the quarter to end-September, South Africa’s MTN reported 194,000 subscribers in Zambia.
Thank you Mr MD.Have you not milked us enough yet?The service you provide in the so called third world is shameful,as it is the telephone population in the 14 countries if it were managed as one unit would bring the cost for your subscribers a lot.
Even the millions of dollars you claim to invest to the volume of subscibers does not make sense .
Your airtime charges are too high, yes we appreciate your investment but the running costs are much lower, why dont we share the cake as well. Lower your air time!
Celtel are thieves! My ethics do not allow me to be a part to these plunderers!!
They can list their shares but I will consider other options like I did in CEC.
I have bought my ticket for Celtel. I have tried all the networks. Some are fine in terms of network but there charges are absurd. Generally everyone wants to ride on an experienced network. I don’t like experimenting. You guys hold the backbone to Mobile Telecommunication in Zambia no arguement. All you need to do is improve the network. Sometimes we lose out our monies without really saying a word. But i know you can do better
VIVA CELTEL
For those that are negative about Celtel, substantiate with figures, Celtel is now getting into 2 million subscribers. Come with figures from the other Mobile Service Providers then an arguement is worthywhile period.
To Cel-Tel. My friend in Lusaka Zambia
+ recently is not getting my msms texts sent to Him. His 2 numbers are 0977 888 500 & 0955 22 55 37
Why is it recently Kevin Mwenda is not getting his texts ? I have spent alot of money texting and if You are not delivering the numbers than You owe me in England.
You can contact me on 00 44 077 17 64 10 94 or by e-mail at [email protected] or [email protected]
I would really like an investigation why now my texts are not being delivered to Kevin Mwenda in Lusakas’ 2 numbers I have given above ?
I will continue trying to ring Your help line number.Paul
does it means u have finally aquired the profits u wanted and try to full as by floating 20% of all the shares. what are u upto anyway? running away….