MTC TARGETS 70 MILLION SUBS AND US$6 BILLION EBITDA BY 2011
Twenty operations of the MTC Group are this week meeting in Tanzania to discuss the operator’s new growth strategy – ACE (acceleration, consolidation, expansion).
ACE will be the group's driving force to position it to take on the challenges of globalisation. Through implementation of the ACE strategy, MTC’s new goals by the year 2011 are to become a company with a market capitalisation of US$30 billion, exceeding 70 million customers and to attain a US$6 Billion EBITDA. In the nine months to end-September 2006 MTC recorded consolidated revenues of US$2.92 billion and consolidated EBITDA of US$1.43 billion, representing a margin of 49%.
“We value our customers in Africa and having this event here reinforces the commitment we have to the continent, which is central to our strategy. Africa is important to us, having invested more than US$6 billion in less than two years on the continent since we acquired Celtel International,” commented Saad Al Barrak, MTC Group managing director.