...despite the uncertainty of the economy
BTC has announced intentions to intensify efforts to improve the company’s financial and operational performance. According to BTC Chairperson, Lorato Boakgomo-Ntakhwana, the company plans to seize available opportunities in the market, despite the uncertainty of the economy. “The company will continue to drive data and value offers in the market as we accommodate the shifts in demand and usage patterns, from voice to data driven services.
We will continue to migrate customers off legacy technologies so that they can experience faster and more reliable fixed and mobile data,” said Boakgomo-Ntakhwana in the company’s financial results for the half year ended 30 September 2022. BTC says it will further drive its efficiency improvement programme as a way of optimizing cost structure and responding to changing market dynamics. In the half year, the company recorded revenue with customers of P691 million compared to P698 million recorded same period last year and a profit after tax of P22 million compared to P86 million. The company has attributed the slide in profits to copper cables theft and organizational restructuring.
“The total impact of copper cable theft amounted to P29 million,” said said Boakgomo-Ntakhwana. She said the company has since intensified efforts and increased its capital budget towards building alternative technologies to replace the copper network investments. On the other hand, the once off provision for the organisational restructuring, drove the increase in the operating expenditure and gobbled P67 million. Boakgomo-Ntakhwana further highlighted that the primary objectives of the organisational restructuring include the creation of a more fit-for-purpose organisation that supports the strategic repositioning of the business into the future.
“The exercise ensures that the Company has the right human capital in the right jobs that will contribute towards the future viability and long-term financial sustainability of the company.” Meanwhile, BTC has also reiterated its commitment to improve localities and communities through its network and services offering. “The infrastructure that BTC has invested on, from mobile, fixed, VSAT to data centre is a great foundation for driving digital services, cloud services and fintech services.
The company will continue to pursue its digital transformation programme and create more value for our customers through our services and innovative solutions,” said Boakgomo-Ntakhwana. She emphasized that BTC is focusing on driving its customers to use more digital platforms for convenience. “Efforts to build a digital culture and strengthen our human capital will continue to position our company to be more responsive to the fast-changing market landscape.”