The Industrial Development Corporation (IDC) says Zamtel Plc’s increase in their number of subscribers to over three million as at June, 2019, has translated into growing its market share to 19 per cent this year.

In a statement, IDC group chief executive officer, Mateyo Kaluba stated that Zamtel’s increased number of subscribers had translated in a growth of market share to 19 per cent this year, up from just 10 per cent in 2016.

“The record increase in mobile subscribers to the Zamtel network over the past two years had increased by over 175 per cent from 1,244,117 in 2016 to 3,367,700 as at June, 2019. This translated in a growth of market share from 10 per cent in 2016 to the current 19 per cent. It is also the highest number of subscribers in the history of Zamtel and the highest market share attained by the company in a very competitive sector,” Kaluba stated in a statement released by IDC public relations manager, Namakau Mukelabai.

Kaluba attributed Zamtel’s growth to management’s “transformation agenda” in pursuit of offering consumers competitive products and services.

“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,” stated Kaluba.

“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. The IDC will render its full support to the continued growth of the business and to ensuring that Zamtel remains a key player in the telecoms sector.”