Telkom Kenya has announced that it will shift its strategic focus in 2010 as it attempts to recover following a net loss of KES10 billion (USD124.6 million) in 2009, reports Business Daily. Telkom Kenya generated revenues of KES11 billion but turned the net loss as higher levels of competition saw industry profit levels plummet as operators dropped their prices to gain market share.
Telkom Kenya CEO, Mickael Ghossein, said the company had encountered severe conditions in the last trading year that had affected its ability to generate profits. He added: ‘We are now focusing on providing quality services, innovating and providing value for money. Our grand plan is to move the market towards true broadband connectivity, offering speeds of up to 8Mbps.’