Jazz Reports Strong Growth in Q1 2023 Despite Economic Challenges

This network expansion played a key role in increasing Jazz’s 4G customer base by 17.4% YoY, reaching 43.1 million, while its overall subscriber base reached 73.7 million.

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Jazz Reports Strong Growth in Q1 2023 Despite Economic Challenges

Jazz, the biggest mobile network provider in Pakistan, has released its first-quarter 2023 financial results. Despite facing sizable macroeconomic difficulties, the company is still dedicated to promoting digital inclusion and putting money into its 4G network.

As part of its “4G for all” goal, Jazz invested PKR 3.7 billion in the first quarter of 2023, bringing its overall investment in Pakistan to USD 10.4 billion. The company launched more than 1,000 new 4G sites in the previous year, bringing the total number of subscribers to 73.7 million and a 17.4% YoY increase in 4G subscribers to 43.1 million.

In response to questions about the difficult business climate and Jazz’s ongoing investments in digital infrastructure, Jazz CEO Aamir Ibrahim said, “In the current digital emergency, we are seeking urgent policy interventions to ensure that we can continue to provide robust broadband for Pakistan’s growing needs as a digitally progressive country.”

Jazz’s online financial service, JazzCash, serviced 1.4 million customers with digital loans, gained 14.6 million monthly active users, logged 2 billion transactions in the previous year, and had a gross transaction value of PKR 4.5 trillion. Jazz World, the business’ self-care app, showed a 15.9% YoY increase in monthly active users to reach 12.2 million. As a result of increased expansion, Tamasha, the company’s entertainment platform, had a 5.6x YoY rise in monthly active users to 5.6 million.

Jazz has consistently increased its revenue market share by about 1% per year over the past five years as a result of its focus on customer-centricity and innovation, as well as ongoing investments made across its value chain.

The business has also advocated for the decoupling of the spectrum price from the US dollar, spreading licence payments over ten annual installments rather than five, and adopting a regulatory strategy to support disciplined inflationary pricing in order to address the issues facing the telecom industry.

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