The cable and mobile services provider Millicom has experienced revenue growth once more in the third quarter of 2017.
Organic service revenue growth for Millicom, which provides cable and mobile services to emerging markets in Latin America and Africa, improved by 1.7% or 3.0ppts compared to the second quarter of this year.
These growth figures include a 2.3% increase in Latin America, led by Paraguay at 6.5% and Bolivia at 6.1%, which contributes to the company’s plan to exceed its full year targets of an additional 3 million 4G net adds and 1 million new HFC homes. Indeed, Millicom has already added 888,000 4G net adds in this quarter and 2.2 million year-to-date to 5.6 million subscribers, and 257,000 new HFC homes passed – 1.3 million added in the last twelve months.
Finally, regarding progress in Africa, Millicom Chief Executive Officer Mauricio Ramos commented: “In Africa, we made progress toward our strategic goals by merging our business in Ghana with Airtel’s to create a strong and viable operation. We also saw a significant improvement in revenue growth trends in the region, buoyed by Tanzania, which reported its strongest rate of growth in more than one year.”
