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HomeAfricaRevenue of Gabon Telecom slumped by 14% in 2010 - Report

Revenue of Gabon Telecom slumped by 14% in 2010 – Report

Revenue of the Gabonese telephony company, Gabon Telecom, slumped last year by 14%, or 61.1 billion FCFA, as it feels the heat of competition, according an official statement issued on Friday in Libreville.

“The drop (in revenue) is due to huge competition in the country created by three other mobile telephony operators who continue to reduce their rates,” the statement said.

The Gabonese mobile telephony sector has grown by 36% and has more than 700,000 subscribers, but fixed telephony has dropped by 27%, with 27,000 lines.

In February 2007, the Gabonese government sold 51% of its shares at Gabon Telecom to Maroc Telecom from Morocco

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