According to Steven Evans, CEO Etisalat, the company will grow its network this year by allocating a further $700 million as part of its initial planned budget of $2 billion, reports Nigeria’s publication Daily Trust.
Last year, Etisalat invested about $800 million, raising the total amount invested to $1,5 billion.
The current investment will be channeled towards renting telecoms infrastructure to cut costs and save on resources. Additional resources will be pumped into upgrading existing infrastructure.
“Overtime we hope to acquire a number of customers to generate sufficient income to make a profit”, said Evans, who expects the company to break even by 2011.
He added that the expected increase in Etisalat’s subscribers would also mean attracting existing subscribers from other network users.
