Millicom International Cellular (MIICF.PK) announced its strategy to grow revenues over five years to over $9 billion annually. The company said it has identified opportunities to grow over the next five years. Consumers in Africa and Latin America are increasingly adopting the digital lifestyle with demand for mobile internet, pay-TV and mobile payments rising. So, Millicom will focus on widening its portfolio of digital services. Millicom also plans to strictly limit Capex to reach 15% of revenues as early as 2016.
Millicom will focus on growing its data revenues on 3G and 4G, adding up to 18 million new mobile date subscribers to 2017. The company expects that $600 million-$1 billion in revenues could be added from Mobile Financial Services by 2017.
Millicom said it will push growth in its fixed line and TV presence in Latin America. Millicom will evaluate selective launches of TV platforms via DTH or OTT. Including the potential combination in Colombia, the company said revenues could increase in the range of $1.8 billion-$2.6 billion.
The company said, following the investment into LIH and AIH with Rocket, it will capture emerging digital opportunities in both Africa and Latin America through a newly-established unit.
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