Telikom merger resulted in profit, says CEO

TELIKOM Limited chief executive officer Amos Tepi says the merger of Telikom and bmobile last year, and support from the Government, contributed to the K28 million profit recorded in the last financial year.
Telikom, this week, paid Kumul Consolidated Holding (KCH) K3 million, the first time the company has ever paid a dividend to its sole shareholder.
“We are looking forward to doing more next year, delivering positive result,” he added.
Prime Minister James Marape yesterday praised Telikom for its good performance in the 2021 financial year. “This is the result of what we have been doing resulting in Telikom making a turnaround after many years of losses,” he said.
“We embarked on a reform agenda with all our state-owned enterprises three years ago and we are starting to see the fruits.”
Tepi said there still remained much work to be done to improve and grow the telecommunications company.
Meanwhile, according to Kumul Consolidated Holdings, more than 50 per cent of Telikom is expected to be sold to the country’s two major superfunds by the end of the year.