Africa PT allows the presence of Portugal Telecom in African continent
Wednesday, July 06, 2005
PT Investimentos Internacionais presented Africa PT. A Project which aims at consolidating and growing in the PT Group services in sub Sahara Africa.
"This is the moment” to invest in Africa. These words were said by Carlos Vasconcellos Cruz, Executive Chairman of PT Investimentos Internacionais, the holding which will join all operations of the Portugal Telecom Group in that continent.
For Miguel Horta e Costa, "the internationalisation of the PT Group is fundamental for the growth of the company ". According to the Executive Chairman in addition to Brazil there are other markets, such as the African, where there is great business potential. ".
Following the evolution of international investments in Brazil, the PT Group is going to diversify its position in markets with geopolitical and economical importance. The maturity of the international market in which the PT Group is located, mainly in Portuguese speaking countries, but not only, allows international business to have greater importance in the PT Group. Within the various international markets in which the Group is located, PT already offers a wide range of services. In the words of Carlos Vasconcellos Cruz, "Africa represents a significant number in the growth of the PT Group in the world ", in such a way that the services which will be available will allow for the increase of clients in the African continent.
In Africa there are three of the Group’s crucial operations: Angola, Morocco and Cape Verd. But Mozambique, Sao Tome, Kenya and Guinea-Bissau also register relevant growth, thus proving that there is sustained growth in the main African markets in which the PT Group believe in. Companies like Meditel (in Morocco) and Unitel (in Angola), in which the number of clients keeps increasing, are examples of the African market maturity.
The African continent will see an increase of 85,3 million clients in the telecommunications market until 2010, and in the mobile markets of Portuguese speaking countries, the number of clients should reach 5 million in the near future. At this moment for example in Angola, the PT Group is considering three business areas: fixed, mobile and Pay TV. And Angola will serve as anchor for the Africa PT project. The Chairman of PT Investimentos Internacionais stated that "Africa PT is a vehicle which aims at creating value opportunities and building organisation foundations within important African markets ". Africa PT is divided into the finance, operational, institutional and cultural areas, in this first phase, the consolidation of current operations and contact with strong local partners are some of the activities to be carried out. As underlined by Carlos Vasconcellos Cruz, "the launch of Africa PT will allow for the consolidation of the PT Group within the African continent ".
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