Zain Zambia, posted a rise of 25% in its net profit to ZMK 265 billion for the full year 2008. The company’s revenue grows by 32% to ZMK 1.217 trillion, attributed to the increase in number of subscribers, which grew by 36% during the period. Operating expenses amounted to ZMK 782 billion in comparison to 2007’s ZMK 530 billion, and EBITDA grew by 24% to ZMK 606 billion. The firm continues to dominate the sector with a market share of 73 percent but said 2009 will be a challenging year due to the global financial crisis, Zain Zambia MD David Holliday said. The incumbent reported a subscriber base of 2.7 million customers at the end of December, up from 2.3 million customers in June 2008.
Source: Wireless Federation.