mCel profitable

3 Jul 2007

mCel, Mozambique’s largest mobile operator, says it made a profit of MZN491 million (USD19.6 million) in 2006, while revenues reached MZN4.4 billion, a 29% increase over the 2005 figure. mCel claimed 70% of Mozambique’s cellular market, with around 1.6 million subscribers at the end of 2006 and says it is out-performing its sole competitor, South Africa-based Vodacom, which is still making heavy losses. Vodacom Mozambique reported a loss of around USD25 million in the twelve months to the end of March 2007; Vodacom’s other African operations are all running at a profit. mCel is wholly owned by Telecomunicações de Moçambique (TDM).

Mozambique, Mocambique Telecom (TMCEL, formerly TDM, mCel)