The achievement in Mozambique follows a 2023 milestone when Natcom – Viettel’s brand in Haiti – became the largest mobile operator in the North American country.
Over the past five years, Movitel’s service revenue in Mozambique has increased by over 20% annually.
In the first four months of 2024, Movitel posted a growth rate of 26.7%, with its subscribers hitting 11.7 million. The users of its electronic wallet service e-Mola also soared by 230% to reach nearly 6 million.
Mozambique is one of the most difficult markets to conquer for Viettel, but thanks to the changes in its strategy by using 4G as its advantage, Movitel has climbed to the top spot in the African countries after 12 years.
Viettel also rose to the number one position at astonishing speeds in many countries.
For example, Lumitel – Viettel’s brand in Burundi – clinched the top spot after only six months. To date, Lumitel accounts for 65% of the mobile service market, 81% of the electronic wallet market and 43% of the broadband market.
In Timor-Leste, it took Viettel’s brand of Telemor one year to become the largest provider in terms of both infrastructure and subscribers, while Metfone – Viettel’s presence in Cambodia – needed only two years for the top spot, which has been maintained with 42% of the mobile market and 62% of the broadband market.
A report by Viettel Global in 2023 showed that the company registered a service revenue growth rate of 22.1%, six times higher than the global average and marking the seventh consecutive year with double-digit growth.
