Natcom to pay dividend in Haiti for first time

Thursday, Oct 11, 2018 15:53

A Natcom store in Haiti. Natcom is expected to achieve revenue and profit growth of 17.5 per cent and 47 per cent in 2018. — VNS Photo

Natcom - a joint venture of Viettel Group in Haiti - has paid a share dividend for 2017 of US$3 million. This is the first time Natcom has paid a dividend since the official launch of the company in September 2011.

The payment is expected to reaffirm the status of Natcom in the eyes of the Haitian Government and its people after seven years of joint venture co-operation.

According to figures released by Natcom, in the first six months of 2018, Natcom’s mobile services and fiber optic internet (FTTH) customer growth was 1.5 times and 2 times higher than in 2017.

In early August, Natcom was provided with a 1,700 Mhz frequency band used for rendering 4G services. This is considered both a "golden" frequency band as it is able to support Natcom’s terminals in Haiti at the highest rate, namely 86 per cent according to analysts’ calculations, and an important weapon for Natcom to compete with other 4G operators. At present, Natcom is in the process of importing equipment and expects to carry out nationwide infrastructure development.

Natcom has already won important contracts such as a national road network project for the Government of Haiti valued at $5.5 million; a contract with UNESCO valued at $425,000; a 4G order to serve the office of the President of Haiti, the second N-Office project for the General Department of Customs, and provision of 24 internet links to member schools of the Haiti Medical University bringing in nearly $400,000.

In addition, the Government of Haiti has agreed a tax exemption for Natcom until 2018 with respect to supplies and equipment imported in order to overcome the consequences of Super Typhoon Matthew in 2016, thereby helping the company save up to $2 million.

Ha The Duong, general director of Natcom, said: "After going through difficult times in Haiti, Viettel is on the way to achieving good business results. By making the best of the 1,700 Mhz "golden frequency band" licence, Natcom has a good chance of competing with other 4G service providers."

Natcom is known as the leading infrastructure company in Haiti with 1,800 2G/3G/4G stations, 6,000 km of fiber optic cables and the second largest market share with nearly 3.4 million customers, accounting for 35 per cent of market share.

According to the plan, Natcom is expected to achieve revenue and profit growth of 17.5 per cent and 47 per cent in 2018. — VNS


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