Fixed Internet customers of the state-owned group Cabo Verde Telecom (CVTelecom) increased by 46% in the two years of the pandemic, above expectations, leading to increased coverage of the fiber optic network, indicates the 2021 report and accounts.
In the report and accounts, to which Lusa had access this Thursday, it is mentioned that “despite the constraints imposed by the current context” resulting from the Covid-19 pandemic, “namely in terms of logistics chains, which conditioned the capacity, in part of the group in responding to the increase in demand for Internet service and the expansion of the fiber network", the year 2021 has ended "with about 22 thousand homes passed [with fiber optics], thus surpassing the initial target of 20, with a strong commitment to the country's capital”.
In fact, over the last two years, the group has been gradually implementing a strategy to adjust fixed retail prices to levels that the company believes are more suitable for the Cape Verdean market”, explains the report and accounts.
The market's response to the offers presented has been surprising, forcing adjustments to the group's model and operational capacity in order to meet current levels of demand. For the second consecutive year, fixed internet growth levels were around 20% and the CVTelecom group ended 2021 with around 24 thousand customers, which represents an increase of 46% over the last two years ”, reads the document.
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Investments made in the last five years exceed US$105 million and place Cape Verde in an enviable position vis-à-vis the countries in the region where it operates. In 2021, we highlight the continuity of the technological transformation program underway at the company, which includes the continuity of the effort to improve 4G and FTTH coverage [optical fiber connection to the door of the home], but also, structuring projects that aim to reinforce the levels of resilience and availability on the network”, points out the document.
It also acknowledges that in fixed retail “there were consistent levels of customer base growth” in 2021, namely with regard to fixed internet, which the group justifies “clearly” with the strategy of adapting “to market needs, both in terms of quality and user experience, as well as in terms of pricing and simplification of the offer”.
The CVTelecom group ended 2021 with 23.982 fixed Internet customers, an increase of 19,3% over the previous year, while the number of mobile Internet users grew by 11,7% to 264.810.
The majority of the share capital of the CVTelecom group is held by the National Institute of Social Security (public institute that manages Cape Verdean pensions), at 57,9%, also counting on the state-owned Aeroportos e Segurança Aérea (20%), Sonangol Cape Verde (5%) and the State of Cape Verde (3,4%) among shareholders, as private nationals (13,7%).
