Starcomms expresses optimism, targets N15.78b in 2017

ONE of the Code Division Multiple Access (CDMA) operators in Nigeria, Starcomms Plc has restated their confidence in its new investment plan and hope to roll in $100 million, about N15,78 billion in 2017.

Despite its challenges lately, Starcomms is optimistic and that it would capitalise on its major strength, its data services which would be position to improve earnings for the company.

Starcomms is looking up to its shareholders approval to acquire Multilinks and MTS, which in turn seal up a planned capital injection from Capcom, a American investor to the tune of $210 million, about N33.14 billion.

The CDMA operator is also eyeing two million subscribers through its data service by the end of 2017.

Capcom’s Chief Executive Officer designate for Starcomms post transaction completion, Demola Elesho commenting on the deal said the aggregation of the spectrum allocations from Multi-Links and MTS, a contiguous 20MHz of spectrum in the 1900MHz range happens to be largest allocation for any telecommunications provider in Nigeria.

The spectrum allocation, Elesho said is what Starcomms will use to deliver a complete range of mobile broadband services using new generation of IP-enabled and high speed broadband 4G/LTE technology.

According to the Capcom’s CEO designate, “Capcom’s current business plan anticipates that the combined business will generate over $100m of yearly EBITDA within five years.”

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