BY PETER EGWUATU

STARCOMMS Plc has called on shareholders to exercise patience as it plans to enlarge its reach nationwide in order to make better returns in the nearest future.

The Managing Director/CEO, Starcomms Plc, Mr. Logan Pather on Tuesday in Lagos disclosed that arrangement is in place to roll out more of its outlets to cities that would add value to the company’s bottom line.

According to him, “ Starcomms value its customers greatly and has been doing everything possible to enhance its service delivery. Efficiency is what we are after as we are pioneer of most of the telecoms technology in Nigeria. We normally have monthly forum with our customers to ensure we service them better”

He lamented the high cost of doing business in Nigeria, saying “We have decided to cut our operating cost, even though our revenue is dropping. The high cost is affecting our revenue and we have to deliver efficient service to our customers. For instance diesel that cost N100 before is N162 as at today which is on a high side. So we are planning to enter into partnership with other organization that will provide alternative power supply that will be regular and less costly in order to enhance our service delivery. We cannot pass the high cost to consumers because of the competition in the industry and we cannot raise tariff so we exploring ways that we will reduce operating cost and as well provide efficient service.”

Commenting on the cost of providing its service nationwide, Pather said, “For us to provide our service nationwide it will cost about $50 million to $60 million which we don’t have.

But there is a plan that is being worked out and when successful we should be able to link the entire country without building base stations round the country.

We hope it will work out because at the moment we don’t have the huge money needed for expansion.

To this extent, he called on shareholders to bear with the company as no dividend is expected to be paid to them in the current financial year.

He said, “The expansion of the business will definitely generate greater returns for shareholders in the future.