Wednesday, July 24, 2024

BTC posts strong growth, declares dividend for 2024

Botswana Telecommunications Corporation Limited (BTCL), a leading telecommunications company listed on the Botswana Stock Exchange (BSE), has announced impressive unaudited financial results for the financial year ending 31 March 2024. The company achieved notable milestones, with revenue reaching P1.436 billion, marking a 3 percent growth compared to the previous fiscal year. This increase in revenue was primarily driven by the growth in fixed voice services and a strong demand for mobile data services. BTC reported an EBITDA of P200 million, with an EBITDA margin of 32.5 percent. The Board of Directors has declared a dividend of 15 thebe per share, and the company has paid over P1 billion in dividends since listing.

“We are pleased to announce BTC’s strong financial results for the fiscal year ending 31 March 2024,” said Anthony Masunga, Managing Director of BTC. “Our focused execution of strategic priorities has driven revenue growth and profitability, demonstrating the resilience and adaptability of our business model.”

During the fiscal year, BTC made significant investments in enhancing its network infrastructure and expanding service offerings. This strategic focus positions the company for sustained growth in Botswana’s dynamic and hyper-competitive telecommunications market. BTC remains committed to delivering superior customer experiences and innovative solutions that meet the evolving needs of consumers and businesses.

Masunga highlighted BTC’s unmatched nationwide footprint, bolstered by continuous investments in network infrastructure, which allows the company to bridge even the most challenging terrains with connectivity. He emphasized the importance of being responsive and agile in a competitive market, noting that replacing copper cables with fiber has not only enhanced the customer experience but also mitigated a major risk affecting the socio-economic imperatives of local communities.

Masunga also pointed out the correlation between investing in customer experience and achieving positive financial results. The revenue increase was driven by the growth in fixed voice services and strong demand for mobile data services. BTC aims to capitalize on emerging opportunities in digital transformation and connectivity services, leveraging its robust operational capabilities and market expertise.

Reflecting on BTC’s journey, Masunga remarked on the company’s relentless innovation and unwavering commitment to connecting Batswana over the past 44 years. He emphasized how BTC has bridged distances, empowered communities, and transformed lives. Looking to the future, Masunga affirmed BTC’s vision to pioneer new horizons in technology, empower every Motswana with the tools to thrive, and continue being the heartbeat of communication across the continent.

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