The Industrial Development Cooperation (IDC) has commended state owned telecommunication company for crossing the three million subscriber base.
In a statement issued to Money FM News, Industrial Development Corporation Group CEO, Mateyo Kaluba says the record increase in mobile subscribers to the Zamtel network over the past two years had increased by over 175% from 1,244,117 in 2016 to 3,367,700 as at June 2019.
Mr Kaluba says this translates in a growth of market share from 10% in 2016 to the current 19%.
He adds that it is also the highest number of subscribers in the history of the state-owned company as well as the highest market share attained by the company in a very competitive sector.
Mr Kaluba further commended the Board, Management and staff of Zamtel on the attainment of the key milestones, which he said were on account of the Board and Management embracing the transformation agenda of the Industrial Development Corporation.

He further said the growth has been underpinned by innovation in designing competitive products, the ongoing network rollout across the country as well as the graduation to 4G and 4.5G in urban and suburban areas.

“I strongly urge the Board and management to continue to drive transformation from within particularly in areas of cost reduction, innovation and internal restructuring. We look forward to a growing, sustainable and profitable business “, He said.
Mr Kaluba added, that the Industrial Development Bank would render its full support to the continued growth of the business and to ensuring that Zamtel remains a key player in the telecoms sector.