Celsys reports 4000% jump in turnover

22 Mar 2004

Mobile phone retailer Celsys has reported a turnover of ZWD54.2 billion in the six months to the end of January 2004, a significant 4041% increase on the same period the previous year. The company has attributed the positive result mainly to its mobile reseller C-Phone, which has witnessed a strong increase in demand over the last few years. Celsys, which also operates three other divisions – Celsys IT, Celsys Print and Celsys Comms – as well as C-Phone, said that the mobile subsidiary generated around 70% of the total profit. The unit generates income by buying airtime and handsets in bulk from mobile phone networks, and then reselling them to consumers. By the end of January it had managed to distribute 1,500 handsets and claimed a 75% market share of Zimbabwe’s mobile sector.