Military-run Viettel Group yesterday officially unveiled its Movitel telecom network, a joint venture with Mozambique’s SPI Co, in Mozambique’s capital city of Maputo.

Becoming operational since May 1, Movitel, 70 percent of whose stake is held by Viettel, has so far attracted 400,000 subscribers and earned US$1.2 million in revenues. The telecom network now receives averagely 30,000 new subscribers on a daily basis.

Speaking at the inauguration ceremony, President of Mozambique Armando Emillo Guebuza appreciated Viettel for its contribution to enable Mozambique to become one of the three African countries with the largest telecom infrastructure, besides South Africa and Nigeria.

Movitel is the third telecom network in Mozambique, and the second largest, which accounts for 70 percent of the total network infrastructure with 1,800 transmission stations, 12,500km of fiber optic cable, and other under-construction infrastructures.

Its services include mobile phone and internet networks, cable TV, and digital terrestrial television.

Movitel is Viettel’s fourth overseas telecom network, following those established in Laos, Cambodia, and Haiti.

The giant mobile operator has also been granted investment license in Peru, and is “eyeing investment in Kenya, Tanzania and Cameroon to establish a strong telecom network in Africa,” said Nguyen Duy Tho, CEO of Viettel International Investment SJC.

Movitel is targeting to reach 2 million subscribers with a $62-million revenue from Mozambique this year.

Last year it pocketed a total of $40 million from overseas networks, and is expecting a double figure for this year.

Tuoitre