CC Image courtesy of ArildV.
StarTimes director Maxwell Loko has announced the digital terrestrial television network has invested NGN5 billion (US$31 million) in its operations in Nigeria.
He also told newsmen in Abuja on the third anniversary of its launch in Nigeria the company currently has 1.3 million subscribers, making it the only pay-TV service in Nigeria with more than one million users.
Loko said with the additional investment, the value of the company’s investment in Nigeria now stands at NGN20 billion (US$124.2 million). On the returns on the investment, he noted that the company is focused on the long term.
“At the moment, we are still on the learning curve and therefore investing more than we are earning. We are currently in 16 major cities, but before the end of this year, StarTimes will be in all the state capitals of the 36 states and other cities,” Loko said.
He said power is the biggest challenge the company is contending with in Nigeria, along with insecurity and limited spectrum allocation. He however said these challenges will not deter the company in its determination to provide quality digital broadcasting for Nigerians.
