Movitel, a subsidiary of Viettel Group in Mozambique has been named the Gold Winner of “Fastest Growing of the Year in Middle-East and Africa” Award, at the 11th Annual International Business Awards 2014 held at the Westin Vendôme Hotel in Paris, France.
The company won the award based on its outstanding development and achievements in Mozambique and other areas. Within one year, Movitel has increased its coverage area from 60percent to 80percent and doubled the number of covered people from 35percent to 85percent. Nearly 600,000 people in at least five rural districts in Mozambique have been covered and provided telecom services for the first time in life. Movitel has had over 5 million users, taking the leading position in the mobile market.
By the end of 2012, only 6 months from launching, Movitel made total revenue of USD 69.7 million. The next year saw significant rise in revenue, USD 154.5 million, of which, USD 102.3 million was recorded in the second half of the year, which was an increase of 65.8percent year-on-year.
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Movitel has improved its successful business strategy as a caring and innovative network for every Mozambican. Especially, Movitel is becoming the favorite operator among the youth and urban dwellers.
The Stevie Awards is the second prize presented to Movitel in 2014 after the first one, “Best Mobile Innovation Award” in July In 2012. Movitel won the Rural Telecom Award of the AfricaCom Awards. In 2013, it was presented the Competitive Strategy Leadership award by The American Research and Consulting firm, Frost and Sullivan.
Viettel has been granted telecommunications in nine countries with total population of over 160 million, total investment values of USD 1.5 billion. The company has five subsidiaries in Cambodia, Laos, Haiti, Mozambique and Timor with two others coming up in Peru and Cameroon this October while the Burundi and Tanzania subsidiaries are under construction.
Total revenue from overseas business of Viettel reached USD 1 billion in 2013 with around 11.5 million subscribers, bringing in more than USD 180.5 million accumulated profits.
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