Bullish leo expands network

Bill Yi representing ZTE International, leo Chairman, Frans Ndoroma and Acting CEO of leo, Theo Klein, revealed the future plans for leo at Thursday’s media meeting. ZTE International will be responsible for the design, planning, supply, delivery and implementation of IMS GSM LTE network infrastructure. Photo contributedThe Acting CEO of the country’s second biggest mobile operator is confident of turning around the fortunes of the debt ridden entity after its recent acquisition by the government.
Theo Klein told journalists during the unveiling of leo’s US$46 million network extension plans Thursday that the company was targeting a 35% to 45% market share in the next five years. Currently, the financially struggling company with debts believed to be around N$250 million, has an estimated 12% market share in the local mobile telecommunications industry dominated by MTC.
A bullish Klein told The Economist that he was 100% confident about the reversal of leo’s fortunes. He added: “It is going to take some time, but we are quite confident that we will turn the company around. We are going to capture a sizeable market share that will not only make leo profitable but the whole group.”
Asked what the new management will do differently from the previous management, Klein said they have an advantage of being Namibian. He said there are a couple of things that the previous investor got wrong:“First, foreign investors underestimate the market dynamics in Namibia and maybe make wrong investment decisions. We will not make the same mistakes, we are Namibian, we know the Namibian market and we will prioritise our investment decisions so that they make economic sense.”