By Emmanuel Elebeke
TOP CDMA operator, Zoom Mobile says it is targeting 10 million subscribers line through its 0707 series of numbering plan.
Executive Vice Chairman of the company, Ken Aigbinode made this known, stating that the firm has mapped out strategies to achieve the ambitious target in three years time.
According to him, forecast is expected to be accomplished in the next three years, though, this will depend on the amount of money pumped into the project.
“In the next three years, it should be possible for us to approach the 10 million mark. This will however depend on the investment money we pump into this objective. I believe that when our public offer breaks, we would have raised all the money we require to achieve this goal,” Aigbinode said.
According to him, as a CDMA operator, what the firm does is sell the handsets and given the appropriate subsidies to customers, he said it was possible for the firm to hit the mark.
“By the time we are through with the first phase of that expansion, that will be an unassailable mileage of the CDMA segment of the industry,” he said
He said that the firm had gone to Nigeria stock Exchange, NSE to raise $200 Million through private placement. The proceeds, he said would be plunged into achieving the 10 million target. “All these and proceeds from the planned public offer will go into our expansion ambition”, he added.