Tigo Panama has unveiled plans to invest PAB100 million (USD100 million) in the ‘modernisation and expansion’ of its networks in 2023. The proposed spend is in addition to the PAB475 million that the company has invested in the country since Millicom International Cellular closed the takeover of Cable Onda in December 2018. Millicom went on to acquire Telefonica Moviles Panama in August 2019.
As a result of its investment, Tigo has increased its LTE coverage from 74% under Telefonica’s stewardship to 95%. This year will see mobile coverage extended to San Miguel del Yuco, Nuevo Caimitillo (East Panama); Nuevo Paraiso, Valle Risco and Deborah (Bocas del Toro); Guayaquil (Veraguas); and San Francisco de Bugaba and Blanco Arriba (Chiriqui). The company has assessed that its mobile network is ‘available for the implementation of 5G’.
In terms of fixed broadband plans, Tigo says it will deploy fibre-optic networks to 90,000 homes in Puerto Armuelles, Colon City, Panama City, Penonome, Azuero and San Miguelito.